CenterSquare Investment Management Acquires Retail Property In Boca Raton For $24.55M
19102 Northwest 2nd Avenue, Miami, FL 33169, USA
$24,550,000
$533/SF
Building Size
46,000 SF
Asset Type
Retail
Closing
Oct 29, 2021
AI
CenterSquare Investment Management has acquired a retail property in Boca Raton for $24,550,000. Located at 9940 Yamato Road, 19102, 19110 & 19120 South State Road 7, the property spans approximately 10.8 acres. The transaction was facilitated by the seller, Power Center I - Martin Osher, and the buyer was represented by Douglas K. Mandel of Marcus & Millichap.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $24,550,000
- Square Footage: 46,000
- Price per Square Foot: $534
- Address: 9940 Yamato Road, 19102, 19110 & 19120 South State Road 7, Boca Raton
- Market: Boca Raton
The property acquisition by CenterSquare Investment Management was made possible through the representation of Douglas K. Mandel from Marcus & Millichap. This transaction showcases the investment firm's strategic move in the retail sector of Boca Raton.
Players
Miami 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
0.65%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93