Site Centers Acquires Delray Beach Retail Property For $40M
16800 Jog Road, Delray Beach, FL, USA
$40,000,000
$714/SF
Building Size
56,000 SF
Asset Type
Retail
Closing
May 18, 2020
About this deal
AI
The retail property located at 16800, 16850 & 16950 South Jog Road in Delray Beach has been sold for $40,000,000. The property spans over 56,000 square feet, resulting in a price per square foot of $714. It sits on 7 acres, with a price per acre of $5,714,286. The transaction took place on May 18, 2021.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $40,000,000
- Address: 16800, 16850 & 16950 South Jog Road
- Market: Delray Beach
- Square Footage: 56,000
- Price per Square Foot: $714
- Acres: 7
- Price per Acre: $5,714,286
The buyer of the property is Site Centers, represented by David Lukes. The seller, Azure Development, was represented by Richard Caster and Brian Grossberg.
Players
Delray Beach 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93