Unknown LLC Acquires Orlando Property At 2101 Park Center Dr For $32.5M With Seller's Rep Chip Wooten
2101 Park Center Dr, Orlando, FL, 328...
$32,500,000
$177/SF
Building Size
182,753 SF
Asset Type
Office
Closing
Apr 26, 2016
AI
The transaction involved a two-building office portfolio located at 2101 Park Center Drive in Orlando, FL, sold for $32,500,000. The total square footage of the property is 182,753. The portfolio includes Windsor at Metrocenter and Berkshire at Metrocenter, both providing access to the downtown area and the Florida Turnpike. The Class A office buildings were 89 percent leased at the time of the sale to a total of 11 tenants.
Summary of transaction details:
- Property Type: Office Portfolio
- Transaction Amount: $32,500,000
- Square Footage: 182,753
- Address: 2101 Park Center Dr, Orlando, FL, 328...
- Market: Orlando
- Seller's Representative: Chip Wooten, CBRE
- Buyer: Unknown LLC
- Leased Percentage: 89%
- Number of Tenants: 11
CBRE represented the undisclosed seller in this transaction, with Chip Wooten and Ron Rogg involved in the negotiations. The buyer was identified as Metrocenter Office LLC, a locally based limited liability company. Both properties contribute to the overall commercial property market in Orlando.
Players
Orlando Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93