Zaragon Inc. Acquires Orlando Office Building For $19M
SOLD
$19,000,000
Florida
See Similar DealsOffice82,086 SF
Sold 12/01/2020
SOLD
Zaragon Inc. Acquires Orlando Office Building For $19M
3500 Quadrangle Boulevard, Orlando, FL, USA
See Similar DealsOffice82,086 SF
Sold 12/01/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$231
Total Square Footage:82,086 SF
Transaction Type:Sale
Zaragon Inc. has recently purchased an office property in Orlando for $19,000,000. The property is located at 3500 & 3626 Quadrangle Boulevard and spans 82,086 square feet. The sale price equates to approximately $231 per square foot.
Summary of Transaction Details:
- Property Type: Office
- Transaction Amount: $19,000,000
- Date: 12/01/2020
- Seller: Owen Realty Capital - Robert Owens
- Buyer: Zaragon Inc.
- Broker: JLL
- Market: Orlando
The sale was facilitated by JLL, representing both the buyer and the seller in the transaction. This acquisition highlights Zaragon Inc.'s investment in the Orlando office market and showcases the expertise of JLL in facilitating such deals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,013,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32
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