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:
- Property Type: Office
- Transaction Amount: $208,000,000
- Square Footage: 470,810
- Price per Square Foot: $441
- Buyer: Bradford Allen
- Seller: DWS
- Brokers: Mike McDonald, Matthew McCormack, Hermen Rodriguez, Ike Ojala, Blake Koletic, Hunter Smith & Max Lescano - JLL
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
Fort Lauderdale 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93