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The Becker Organization Acquires Retail Property In Boca Raton For $18.25M

Property Image
SOLD
$18,250,000
Scott O'Donnell
Michael (Mike) Ciadella
+ 2

Florida

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Retail68,389 SF
Sold 06/29/2022
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Property Image
SOLD

The Becker Organization Acquires Retail Property In Boca Raton For $18.25M

1351 NW Boca Raton Blvd, Boca Raton, FL 33432

See Similar Deals
Retail68,389 SF
Sold 06/29/2022
Scott O'Donnell
Michael (Mike) Ciadella
+ 2
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$266
Total Square Footage:68,389 SF
Transaction Type:Sale

The Becker Organization, represented by Bryan Becker, Joseph Zito, and Scott Glauberg, has acquired a retail property located at 1351 NW Boca Raton Blvd in Boca Raton. The seller of the property is MB-BW Boca, represented by Malcolm Butters. The transaction was facilitated by Scott O'Donnell and Mike Ciadella from Cushman & Wakefield.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: $18,250,000
  • Address: 1351 NW Boca Raton Blvd
  • Market: Boca Raton
  • Buyer: The Becker Organization - Bryan Becker, Joseph Zito, and Scott Glauberg
  • Seller: MB-BW Boca - Malcolm Butters
  • Brokers: Scott O'Donnell and Mike Ciadella - Cushman & Wakefield
  • Square Footage: 68,389
  • Price Per Square Foot: $267

This transaction highlights the successful collaboration between The Becker Organization and MB-BW Boca, as well as the expertise and representation provided by broker representatives Scott O'Donnell and Mike Ciadella. The acquisition of this retail property in Boca Raton further strengthens The Becker Organization's portfolio and demonstrates their commitment to expansion and investment in the market.

Players

Scott O'Donnell
32 deals$581M volume
BROKER

Michael (Mike) Ciadella
Cushman & Wakefield
34 deals$590M volume
BROKER

Scott Glauberg
2 deals$24.1M volume(973) 707-2366
BROKER


BUYER


Malcolm Butters
13 deals$344.1M volume
SELLER

Details

SOLD
IMAGE: Scott Glauberg, Mike Ciadella, Bryan Becker, Scott O'Donnell & Joseph Zito DATE: 06/29/2022 ADDRESS: 1351 NW Boca Raton Blvd MARKET: Boca Raton ASSET TYPE: Retail BUYER: The Becker Organization (@TheBeckerOrg) - Bryan Becker (@BBex1), Joseph Zito (@The1jaz) & Scott Glauberg (@SGlauberg) SELLER: MB-BW Boca - Malcolm Butters BROKERS: Scott O'Donnell & Mike Ciadella - Cushman & Wakefield SALE PRICE: $18,250,000 SF: 68,389 ~ PPSF: $267

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

$973,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$64,838.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$86,514.31
Annual Debt Service$1,038,171.73