PEBB Enterprises Acquires Office Building In Boca Raton For $14.5M
$14,500,000
SOLD
$14,500,000
Florida
See Similar DealsOffice77,340 SF
Sold 07/15/2020
$14,500,000
SOLD
PEBB Enterprises Acquires Office Building In Boca Raton For $14.5M
5900 Broken Sound Parkway Northwest, Boca Raton, FL 33487, USA
See Similar DealsOffice77,340 SF
Sold 07/15/2020
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$187
Total Square Footage:77,340 SF
Transaction Type:Sale
The property located at 5900 Broken Sound Parkway NW in Boca Raton is an office asset sold for $14,500,000. The total square footage of the property is 77,340, with a price per square foot of $187. The transaction occurred on July 15, 2021.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $14,500,000
- Buyer: PEBB Enterprises
- Seller: 5900 Broken Sound LLC
- Broker: Jeff Kelly - CBRE
The deal involved key individuals Jeff Kelly, representing the broker CBRE, in facilitating the transaction between the buyer, PEBB Enterprises, and the seller, 5900 Broken Sound LLC. This collaboration resulted in the successful transfer of ownership for the office property.
Players
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BUYER
SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$773,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77
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