Angler Properties Acquires West Palm Beach Office Portfolio For $19.5M
340 Columbia Drive, West Palm Beach, Florida 33409, United States
$19,500,000
$178/SF
Building Size
109,237 SF
Asset Type
Office
Closing
Jan 3, 2022
AI
The office property located at 340, 360, 380, 400, 420, 440 & 500 Columbia Drive in West Palm Beach was recently sold in a closed transaction. The property spans a total area of 109,237 square feet and is classified as an office asset. The sale took place on 01/03/2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $19,500,000
- Price per Square Foot: $179
- Address: 340, 360, 380, 400, 420, 440 & 500 Columbia Drive, West Palm Beach
- Market: West Palm Beach
The buyer in this transaction was Angler Properties, while the seller was 340-500 Columbia Drive LLC. The deal was facilitated by Darryn Dunn and Tom Gibson, who represent Asset Specialists.
Players
West Palm Beach 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
0.81%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93