Updated Oct 29, 2024
Tricera Capital Leases 17,929-SF Office Space To Palm Beach Atlantic University
2751 South Dixie Highway West Palm Beach, Florida 33405, USA
Building Size
17,929 SF
Asset Type
Single Family
Closing
Aug 18, 2023
About this deal
AI
Tricera Capital has completed a lease transaction with Palm Beach Atlantic University in West Palm Beach. The leased property is located at 2751 South Dixie Highway and spans a total area of 17,929 square feet. The office space will be utilized by Palm Beach Atlantic University for a new medical program.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not provided
- Address: 2751 South Dixie Highway
- Market: West Palm Beach
- Tenant: Palm Beach Atlantic University
- Landlord: Tricera Capital
- Broker: Robert Anderson - Tortoise Realty Group
Robert Anderson from Tortoise Realty Group represented Palm Beach Atlantic University in this lease deal.
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Single Family
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93