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Bradford Allen Acquires Office Asset From DWS At 350 & 450 East Las Olas Boulevard For $208M

Property Image
SOLD
$208,000,000
Mike McDonald
Matthew (Matt) McCormack
+ 4

Florida

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Office941,620 SF
Sold 02/12/2025
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Property Image
SOLD

Bradford Allen Acquires Office Asset From DWS At 350 & 450 East Las Olas Boulevard For $208M

350 East Las Olas Boulevard & 450 East Las Olas Boulevard

See Similar Deals
Office941,620 SF
Sold 02/12/2025
Mike McDonald
Matthew (Matt) McCormack
+ 4
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$220
Total Square Footage:941,620 SF
Transaction Type:Sale

The property asset involved in this transaction is located at 350 & 450 East Las Olas Boulevard in Fort Lauderdale. It is classified as an office type asset with a sale price of $208,000,000. The total square footage of the property is 470,810, reflecting a price per square foot of $441.

Summary of transaction details:

This transaction was facilitated by a team of brokers from JLL, comprising Mike McDonald, Matthew McCormack, Hermen Rodriguez, Ike Ojala, Blake Koletic, Hunter Smith, and Max Lescano. They played a pivotal role in representing the buyer and seller in this significant property transaction.

Players

Hermen Rodriguez
23 deals$1.8B volume(305) 448-5332
BROKER

Ike Ojala
JLL
25 deals$2B volume(305) 774-6810
BROKER

Matthew (Matt) McCormack
JLL
31 deals$2.8B volume
BROKER

Max Lescano
JLL
10 deals$982.9M volume(954) 812-6234
BROKER

Blake Koletic
JLL
17 deals$1.5B volume
BROKER

Mike McDonald
JLL
8 deals$726.5M volume(214) 777-5101
BROKER

Hunter Smith
JLL
14 deals$1.2B volume
BROKER

Cushman & Wakefield
BROKERAGE

Details

SOLD
IMAGE: Hermen Rodriguez, Blake Koletic, Ike Ojala, Hunter Smith, Matthew McCormack, Mike McDonald & Max Lescano DATE: 02/12/2025 ADDRESS: 350 & 450 East Las Olas Boulevard MARKET: Fort Lauderdale ASSET TYPE: Office BUYER: Bradford Allen SELLER: DWS BROKERS: Mike McDonald, Matthew McCormack (@InstantMack), Hermen Rodriguez, Ike Ojala, Blake Koletic (@BlakeKoletic), Hunter Smith (@HunterSmith888) & Max Lescano - JLL (@JLL) SALE PRICE: $208,000,000 SF: 470,810 ~ PPSF: $441

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$11,093,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$738,980.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$986,026.12
Annual Debt Service$11,832,313.40