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MHCommercial Real Estate Fund Acquires Office Building In Lakewood Ranch For $20.3M

Property Image
SOLD
$20,250,000
Zachary Eicholtz
Rick Brugge
+ 3

Florida

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Office101,312 SF
Sold 07/01/2020
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Property Image
SOLD

MHCommercial Real Estate Fund Acquires Office Building In Lakewood Ranch For $20.3M

9000 Town Center Parkway, Lakewood Ranch, FL, USA

See Similar Deals
Office101,312 SF
Sold 07/01/2020
Zachary Eicholtz
Rick Brugge
+ 3
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$199
Total Square Footage:101,312 SF
Transaction Type:Sale

The sale of an office asset located at 9000 Town Center Parkway in Lakewood Ranch has been completed. The property, spanning 101,312 square feet, was sold on July 1, 2021, for a total price of $20,250,000, resulting in a price per square foot of $200. The transaction involved the buyer, MHCommercial Real Estate Fund, and the seller, Dilweg Cos.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $20,250,000
  • Address: 9000 Town Center Parkway, Lakewood Ranch
  • Market: Lakewood Ranch

The deal was facilitated by a team of brokers representing both parties. Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, Zach Eicholtz, and Brooke Tulley from Cushman & Wakefield were involved in the transaction.

Players

Dominic Montazemi
90 deals$4.2B volume
BROKER

Rick Brugge
Cushman & Wakefield
65 deals$2.8B volume
BROKER

Brooke Tulley
Cushman & Wakefield
7 deals$680.9M volume
BROKER

Rick Colon
Cushman & Wakefield
55 deals$2.7B volume
BROKER

Zachary Eicholtz
Cushman & Wakefield
17 deals$1.1B volume
BROKER

Mike Davis
PSRS- Pacific Southwest Realty Services
10 deals$530.6M volume
BROKER

BUYER

Details

SOLD
IMAGE: Mike Davis, Brooke Tulley, Dominic Montazemi, Rick Brugge, Rick Colon & Zachary Eicholtz DATE: 07/01/2021 ADDRESS: 9000 Town Center Parkway MARKET: Lakewood Ranch ASSET TYPE: Office BUYER: MHCommercial Real Estate Fund SELLER: Dilweg Cos BROKERS: Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, Zach Eicholtz & Brooke Tulley - Cushman & Wakefield SALE PRICE: $20,250,000 SF: 101,312 ~ PPSF: $200

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,080,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,943.97
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,995.33
Annual Debt Service$1,151,943.97