Pelican Bays LLC Acquires Office Property In Davie For $50M
4990 Southwest 52nd Street, Davie, Florida 33314, United States
$50,000,000
$253/SF
Building Size
197,000 SF
Asset Type
Office
Closing
Jul 11, 2022
AI
An office property located at 4990 SW 52nd St in Davie has been sold for a total price of $50,000,000. The transaction took place on 07/12/2022 and involved a total square footage of 197,000. The property was sold by Charles Rowar, Trustee to Pelican Bays LLC. The sale price per square foot was calculated at $254.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $50,000,000
- Address: 4990 SW 52nd St, Davie
- Market: Davie
- Buyer: Pelican Bays LLC
- Seller: Charles Rowar, Trustee
- Brokers: Alan Levy & Josh Levy - Levy Realty Advisors
- Square Footage: 197,000
- Price Per Square Foot: $254
Alan Levy & Josh Levy from Levy Realty Advisors served as the brokers in this deal, representing both the buyer, Pelican Bays LLC, and the seller, Charles Rowar, Trustee. This transaction signifies a significant investment in the office market in Davie.
Players
Davie 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93