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
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