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350 East Las Olas Boulevard

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

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

$208,000,000

$220/SF

Building Size

941,620 SF

Asset Type

Office

Closing

Feb 12, 2025

AI

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

JLL

Broker

$1.8B

vol

23 deals

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage

Fort Lauderdale Office Market Snapshot

Boundary boundary · Office · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93