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707 Northeast 3rd Avenue

Asana Partners Acquires Office Building In Fort Lauderdale For $10M
SOLDOffice

Asana Partners Acquires Office Building In Fort Lauderdale For $10M

707 Northeast 3rd Avenue

$10,000,000

$403/SF

Building Size

24,771 SF

Asset Type

Office

Closing

Jul 20, 2022

AI

The office property located at 707 NE 3rd Ave in Fort Lauderdale has been sold for $10,000,000. The property spans 24,771 square feet, resulting in a price per square foot of $404. The sale was facilitated by Jaime Sturgis of Native Realty.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $10,000,000
  • Address: 707 NE 3rd Ave, Fort Lauderdale
  • Market: Fort Lauderdale

The buyer in this transaction is Asana Partners. Represented by Terry Brown, Sam Judd, and Jason Tompkins. The seller of the property is Michael Wiggins. The sale was brokered by Jaime Sturgis from Native Realty.

Players

Jaime Sturgis

Native Realty

Broker

$243M

vol

48 deals

Broker
Terry Brown

Terry Brown

Asana Partners

Buyer

$169.4M

vol

5 deals

Buyer

Michael Wiggins

Seller

$12.8M

vol

2 deals

Seller

Minneapolis 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

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93