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100 W Cypress Creek Rd, For...

DRA Advisors Leases 10075 Square Feet At 100 W Cypress Creek Rd Fort Lauderdale
LEASEDOffice

DRA Advisors Leases 10075 Square Feet At 100 W Cypress Creek Rd Fort Lauderdale

100 W Cypress Creek Rd, Fort Lauder...

Building Size

10,075 SF

Asset Type

Office

Closing

Feb 7, 2018

AI

The property asset involved in this transaction is a 10-story, 10,075-square-foot office space located at 100 W Cypress Creek Road, Fort Lauderdale, within the Floyd market. The building is part of Trade Center South, a Class A office building comprising 215,000 square feet and completed in 1984. The property has undergone cosmetic renovations in 1991 and 2011.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 100 W Cypress Creek Rd, Fort Lauderdale
  • Market: Floyd
  • Landlord: DRA Advisors
  • Landlord's Representative: Greg Martin (Move Forward Real Estate)
  • Square Feet: 10,075

The negotiations for this lease involved the team of Principal Greg Martin and Vice President Peyton Moore, representing the landlord, DRA Advisors. The property has been under the ownership of DRA Advisors since November 2011.

Players

Sal Bonsignore

Colliers

Broker

$62M

vol

5 deals

Broker
DRA Advisors
DRA AdvisorsLandlord

Floyd Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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