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5901 Del Lago Circle

Lighthouse Of Broward Acquires BrightStar Credit Union's Former Headquarters In Sunrise For $6.2M
SOLDOffice

Lighthouse Of Broward Acquires BrightStar Credit Union's Former Headquarters In Sunrise For $6.2M

5901 Del Lago Circle

$6,200,000

$267/SF

Building Size

23,185 SF

Asset Type

Office

Closing

Oct 2, 2023

AI

A 2.02-acre office property located at 5901 Del Lago Circle in Sunrise has been sold for $6.2 million. The property consists of a 23,185-square-foot building and is situated in the Sunrise market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $6,200,000
  • Acres: 2.02
  • Address: 5901 Del Lago Circle, Sunrise
  • Square Feet: 23,185

The buyer of the property is Lighthouse of Broward, a nonprofit organization. They acquired the property from BrightStar Credit Union, who recently relocated their headquarters to Cooper City. Lighthouse of Broward intends to utilize the building for their administrative functions and programs.

Involved in the transaction are the buyer's representative, Stephen Hyatt from Berger Commercial Realty, and the seller's representatives, Chris Wood from CBRE and Zach Wendelin from JLL.

It is worth noting that the sale price of the property amounts to a rate of $267 per square foot.

Players

R. Stephen Hyatt

Berger Commercial Realty

Broker

$111.9M

vol

19 deals

Broker
LB
Lighthouse of BrowardBuyer
BU
Brightstar Credit UnionSeller

Sunrise 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

2.56%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93