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2101 Park Center Dr, Orland...

Unknown LLC Acquires Orlando Property At 2101 Park Center Dr For $32.5M With Seller's Rep Chip Wooten
SOLDOffice

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

Ronald Rogg

CBRE

Broker

$524.7M

vol

14 deals

Broker
UL
Unknown LLCBuyer

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