Spirit Realty L.P. Acquires Retail Property In Fort Lauderdale & West Palm Beach For $49.5M
827 South State Road 7, Plantation, FL, USA
$49,500,000
$535/SF
Building Size
92,384 SF
Asset Type
Retail
Closing
Sep 17, 2020
About this deal
AI
The recently closed property transaction in Fort Lauderdale and West Palm Beach involved the sale of a retail asset located at 827 South SR 7 & 1200 South Congress Avenue. The property has a total area of 92,384 square feet and was sold for a price of $49,500,000, equivalent to a price per square foot of $536. The transaction took place on September 18, 2020. The seller of the property was Off Lease Only Real Estate Holdings LLC.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: $49,500,000
Spirit Realty L.P., represented by Jackson Hsieh, acted as the buyer in this transaction. In the role of buyer's representative, Jackson Hsieh played a key role in facilitating the deal. Please note that no additional information was provided regarding the buyer or their representative.
Players
Plantation 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93