PEBB Enterprises And Banyan Development Acquire Boca Raton Office Building For $37.5M
SOLD
$37,500,000
Florida
See Similar DealsOffice308,305 SF
Sold 04/28/2022
SOLD
PEBB Enterprises And Banyan Development Acquire Boca Raton Office Building For $37.5M
3600 Fau Boulevard, Boca Raton, Florida 33431, United States
See Similar DealsOffice308,305 SF
Sold 04/28/2022
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$121
Total Square Footage:308,305 SF
Transaction Type:Sale
Located at 3600-3998 FAU Blvd in Boca Raton, this office property was recently sold in a transaction. The sale was facilitated by Keith O'Donnell from Avison Young.
Summary of transation details
- Property Type: Office
- Transaction Amount: $37,500,000
- Square Footage: 308,305
- Price per Square Foot: $122
- Market: Boca Raton
The property was purchased by PEBB Enterprises, represented by Ian Weiner, and Banyan Development, represented by Jason Sher. The deal was successfully closed on April 28, 2022.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,999,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$133,229.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$177,769.13
Annual Debt Service$2,133,229.58
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