PGIM Real Estate Acquires Miramar Retail Property For $61.5M
12601 Miramar Parkway, Miramar, Florida 33023, United States
$61,500,000
$384/SF
Building Size
160,000 SF
Asset Type
Retail
Closing
Oct 30, 2022
AI
12601 Miramar Parkway is a retail property located in Miramar. This property spans over 22.5 acres and was recently sold in a closed transaction.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $61,500,000
- Address: 12601 Miramar Parkway
- Market: Miramar
- Size: 160,000 square feet
- Price per Square Foot: $384
The buyer in this transaction was PGIM Real Estate represented by Eric Adler, while the seller was Stiles Corporation represented by Jeff Ostrow. This deal was completed on October 31, 2022.
Players
Miramar Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93