Jim McGuire Of McGuire Development Acquires Fort Lauderdale Office Building For $12.1M
SOLD
$12,100,000
+ 3
Florida
See Similar DealsOffice99,870 SF
Sold 06/30/2020
SOLD
Jim McGuire Of McGuire Development Acquires Fort Lauderdale Office Building For $12.1M
7771 West Oakland Park Boulevard, Fort Lauderdale, FL, USA
See Similar DealsOffice99,870 SF
Sold 06/30/2020
+ 3
Summary
FLORIDA
Asset Type:Office
Price Per Square Foot:$121
Total Square Footage:99,870 SF
Transaction Type:Sale
The office property located at 7771 West Oakland Park Blvd in Fort Lauderdale has been sold in a recent transaction. The property, known as Atrium West, was sold on June 30, 2021.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $12,100,000
- Square Footage: 99,870
- Price per Square Foot: $121
The buyer in this transaction is Jim McGuire, representing McGuire Development Company. The seller is Axel Stepan, representing Douglas Pike Associates. The deal was facilitated by the Avison Young Team, with Brian Askey, David Duckworth, John K. Crotty, Michael T. Fay, Brian de la Fe, and Berkley Bloodworth as the brokers. Additionally, J Berkley was involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$645,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,988.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,360.17
Annual Debt Service$688,322.08
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