Bark Management Acquires Office Asset From Malcolm Butters For $15.3M In Boca Raton
950 Peninsula Corp Circle
$15,300,000
$313/SF
Building Size
48,829 SF
Asset Type
Office
Closing
Mar 11, 2025
AI
The office asset located at 950 Peninsula Corp Circle in Boca Raton has an approximate square footage of 48,829 and was sold for $15,300,000, resulting in a price per square foot of $313.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $15,300,000
- Address: 950 Peninsula Corp Circle
- Market: Boca Raton
- Square Footage: 48,829
- Price Per Square Foot: $313
- Buyer: Bark Management
- Seller: Malcolm Butters - Butters Realty
- Brokers: Zach Levine, Douglas Mandel & Joshua Gilbert - Marcus & Millichap
The transaction was facilitated by brokers Zach Levine, Douglas Mandel, and Joshua Gilbert, who represent the buyer Bark Management as part of their role at Marcus & Millichap. The seller, Malcolm Butters of Butters Realty, completed the sale as part of their real estate dealings.
Players
Boca Raton 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93