Butters Construction & Development Acquires Office Building In Boca Raton For $13M
950 Corporate Centre, Boca Raton, Florida, USA
$13,000,000
$273/SF
Building Size
47,585 SF
Asset Type
Office
Closing
Jan 23, 2020
About this deal
AI
An office property located at 950 Peninsula Corporate Circle in Boca Raton has been sold for $13,000,000. The property spans a total area of 47,585 square feet, resulting in a price per square foot of $273. The transaction took place on January 24, 2020. The seller of the property was D'Arcy Realty, LLC.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $13,000,000
- Address: 950 Peninsula Corporate Circle, Boca Raton
- Market: Boca Raton
- Buyer: Butters Construction & Development - Malcolm Butters
- Seller: D'Arcy Realty, LLC
The buyer, Butters Construction & Development represented by Malcolm Butters, acquired the property. The deal was facilitated by brokers Douglas K. Mandel and Tyler Kuhlman from Marcus & Millichap.
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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93