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5220 Summerlin Commons Boul...

Evan Berlin Revocable Trust Acquires Office Property In Fort Myers For $10.3M
SOLDOffice

Evan Berlin Revocable Trust Acquires Office Property In Fort Myers For $10.3M

5220 Summerlin Commons Boulevard, Fort Myers, Florida 33907, United States

$10,250,000

$190/SF

Building Size

53,893 SF

Asset Type

Office

Closing

Jul 6, 2022

AI

The office property located at 5220 Summerlin Commons Blvd in Fort Myers has been sold in a transaction valued at $10,250,000. The property spans 53,893 square feet and was sold at a price of $190 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $10,250,000
  • Date: 07/07/2022
  • Address: 5220 Summerlin Commons Blvd, Fort Myers

The buyer in this transaction is the Evan Berlin Revocable Trust, while the seller is Mick Vorbeck. The deal was facilitated by brokers Gary Tasman & Shawn Stoneburner from Cushman & Wakefield.

Players

Gary Tasman

Cushman & Wakefield

Broker

$105.3M

vol

8 deals

Broker
RT
Revocable TrustBuyer

Mick Vorbeck

Seller

$12.8M

vol

2 deals

Seller

Fort Myers 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

1.55%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93