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Each office is independently owned and operated.
Sponsored By:
Each office independently owned and operated
Class A Medical Center5441 N University Dr | Coral Springs, FL 33065
JOHN DEMARCO, [email protected]
Class A+++ Medical Office Building / Professional Building➢
High-end luxury build out➢
Coral Springs Professional Campus➢
Newer Construction build in 2005➢
Perfect for your medical or professional practice➢
RE/MAX 5 STAR REALTY4151 Hollywood BlvdHollywood, FL 33020(954) 361-0000
REAL ESTATE INVESTMENT DETAILS5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Analysis
Analysis Date September 2017
Property
Property Class A Medical Center
Property Address 5441 N University DrCoral Springs, FL 33065
Year Built 2005
Financial Information
All Cash
Purchase Information
Property Type Health Care
Purchase Price $2,350,000
Tenants 1
Total Rentable Sq. Ft. 6,986
Loans
Type Debt Term Amortization Rate Payment LO Costs
All Cash
Income & Expenses
Gross Operating Income $0
Monthly GOI $0
Total Annual Expenses ($62,554)
Monthly Expenses ($5,213)
Contact Information
John DeMarco, ACP
954-678-8733
P. 2
PROPERTY DESCRIPTION5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
John DeMarco with Re/Max 5 Star Realty ispleased to present the sale of this luxury freestanding medical office / professional office buildinglocated in desirable Coral Springs ProfessionalCampus. Class A++ building with incredible highend build out. Over $300 a square foot in build out. This 7000 square foot building is currently beingused as a sports medicine and medical institute.Build out includes private exam rooms with sinks, x-ray room, marble waiting room, full bathrooms withshowers, ADA bathrooms and hallways, large gymused for rehab center, locker room with sauna andmuch more… Perfect building for high endplastic surgeon practice, surgical center, general medical, law firm etc.
This property is also a great acquisition for investors, when leased after closing at $28.33 a square foot,this property will provide an investor with a strong 7.27% capitalization rate on a pro-forma basis. Theaverage days on market in the complex for leasing on ONLY 90 days. See included pro-forma in thispackage.
The Cleveland Clinic has broken ground across the street which will be a 72,000 square foot surgicalcenter. Included in this package are recent comparable sales showing similar properties are selling onaverage at $372 a square foot ($2,600,000.00); this property is priced to sell at a below market price of $336a square foot ($2,350,000.00). The parks association covers all common area maintenance, includingpainting, roof, insurance, landscaping etc, low fee of $2964.50 per month.
Please remember to not disturb existing business, for all showings and for additional information contactlisting broker.
P. 3
PROPERTY PHOTOS5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Private Office Lobby
Therapy Room ADA Compliance Bathrooms
Gym Parking
P. 4
PRO FORMA SUMMARY5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
TENANT ANNUAL SCHEDULED INCOME
Tenant Actual Market
$0 $197,913
TOTALS $0 $197,913
ANNUALIZED INCOMEActual Market
Gross Potential Rent $0 $197,913
Less: Vacancy $0 $0
Effective Gross Income $0 $197,913
Less: Expenses ($62,554) ($26,980)
Net Operating Income ($62,554) $170,933
ANNUALIZED EXPENSES
Actual MarketHOA $30,630 $0
Maintenance $4,944 $0
Taxes - Real Estate $26,980 $26,980
Total Expenses $62,554 $26,980
Expenses Per RSF $8.95 $3.86
INVESTMENT SUMMARY
Price: $2,350,000
Year Built: 2005
Tenants: 1
RSF: 6,986
Price/RSF: $336.39
Lot Size: 7,104 sf
Floors: 1
APN: 4841 10 17
Cap Rate: -2.66%
Market Cap Rate: 7.27%
P. 5
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps SummaryLease Comps Report
Deals
6Gross Asking Rent Per SF
$28.33Gross Starting Rent Per SF
-Avg. Months On Market
3LEASE COMPARABLES
SUMMARY STATISTICS
Rent Deals Low Average Median High
Gross Asking Rent Per SF
Gross Starting Rent Per SF
Gross Effective Rent Per SF
Asking Rent Discount
TI Allowance
Months Free Rent
5
-
-
-
-
-
$25.00
-
-
-
-
-
$28.33
-
-
-
-
-
$30.35
-
-
-
-
-
-
-
-
$51.82
-
-
Lease Attributes Deals Low Average Median High
Months on Market
Deal Size
Lease Deal in Years
Floor Number
6
6
1
6
1
100
0.1
1
3
697
0.1
1
3
636
0.1
1 2
6
1,500
0.1
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P. 6
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps SummaryLease Comps Report
Property Name - Address Rating SF Leased Floor Sign Date Rent Rent Type
Lease
Type
Rents
-1 A 71,500 1st 8/28/2017 $19.00/nnn Asking
5441 N University DrNew
-2 B 4110 1st 5/3/2017 $51.82 Asking
5571 N University DrNew
-2 B 4160 1st 5/3/2017 $41.25 Asking
5571 N University DrNew
-3 5491 N University Dr1,200 2nd 2/7/2017 $25.00/mg AskingNew
-4 B 51,113 1st 10/17/2016 $25.00/mg Asking
5551 N University DrNew
-5 A 3100 1st 6/17/2016 - -
5461 N University DrNew
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P. 7
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
1 5441 N University Dr - A 7Coral Springs, FL 33067 - NW Broward/Coral Springs Submarket
RENTSAsking Rent: $19.00/NNN
PROPERTY EXPENSESTaxes: $3.86/SF (2016)
LEASESF Leased: 1,500 SFSign Date: Aug 2017Space Use: Office/MedicalLease Type: DirectFloor: 1st FloorSuite: 102
LEASE TERMStart Date: Sep 2017Lease Term: 1 Year
TIME VACANTDate Vacated: Jun 2017Date Occupied: Sep 2017Months Vacant: 3 Months
TIME ON MARKETDate On Market: May 2017Date Off Market: Aug 2017Months on Market: 4 Months
LEASING REPBox Real Estate LLC12480-12488 W Atlantic BlvdCoral Springs, FL 33071Jason Chamely (954) 857-1884
PROPERTYRentable Area: 6,986 SFStories: 1Floor Size: 6,986 SFVacancy at Lease: 0.0%Land Acres: 0.16
Property Type: OfficeStatus: Built Nov 2004Tenancy: MultiClass: BParking: Surface Spaces @ $…
MARKET AT LEASE
Vacancy Rate 2017 Q3 YOY
0.8%
1.4%
0.0%Current Building 0.0%
Submarket 1-3 Star
Metro Overall 8.7%
10.1%
Gross Asking Rent Per SF 2017 Q3 YOY
1.3%
3.2%
Current Building $30.35
Submarket 1-3 Star
Metro Overall $27.03
$22.04
-
Submarket Leasing Activity 2017 Q3 YOY
8.1
5.9%12 Mo. Leased SF 262,099
Months On Market 11.1
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P. 8
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
2 5571 N University Dr - B 4Coral Springs, FL 33067 - NW Broward/Coral Springs Submarket
RENTSAsking Rent: $51.82
LEASESF Leased: 110 SFSign Date: May 2017Space Use: OfficeLease Type: DirectFloor: 1st Floor
LEASE TERMStart Date: May 2017
TIME VACANTDate Vacated: Mar 2017Date Occupied: May 2017Months Vacant: 2 Months
TIME ON MARKETDate On Market: Mar 2017Date Off Market: May 2017Months on Market: 2 Months
LEASING REPLeton Enterprises, Inc.5420 NW 37th AveMiami, FL 33142-2716Valentino Vsanchi (954) 755-5777
PROPERTYRentable Area: 13,623 SFStories: 2Floor Size: 5,803 SFVacancy at Lease: 1.5%
Property Type: OfficeStatus: Built Mar 2005Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: Surface Spaces @ $…
MARKET AT LEASE
Vacancy Rate 2017 Q2 YOY
0.5%
1.3%
1.5%Current Building 1.5%
Submarket 2-4 Star
Metro Overall 9.2%
11.0%
Gross Asking Rent Per SF 2017 Q2 YOY
0.3%
5.3%
Current Building $45.56
Submarket 2-4 Star
Metro Overall $26.93
$22.90
-
Submarket Leasing Activity 2017 Q2 YOY
15.1
4.2%12 Mo. Leased SF 243,324
Months On Market 8.8
9/29/2017Copyrighted report licensed to Re/Max 5 Star Realty - 746067.
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P. 9
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
2 5571 N University Dr - B 4Coral Springs, FL 33067 - NW Broward/Coral Springs Submarket
RENTSAsking Rent: $41.25
LEASESF Leased: 160 SFSign Date: May 2017Space Use: OfficeLease Type: DirectFloor: 1st Floor
LEASE TERMStart Date: May 2017
TIME VACANTDate Vacated: Mar 2017Date Occupied: May 2017Months Vacant: 2 Months
TIME ON MARKETDate On Market: Mar 2017Date Off Market: May 2017Months on Market: 2 Months
LEASING REPLeton Enterprises, Inc.5420 NW 37th AveMiami, FL 33142-2716Valentino Vsanchi (954) 755-5777
PROPERTYRentable Area: 13,623 SFStories: 2Floor Size: 5,803 SFVacancy at Lease: 1.5%
Property Type: OfficeStatus: Built Mar 2005Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: Surface Spaces @ $…
MARKET AT LEASE
Vacancy Rate 2017 Q2 YOY
0.5%
1.3%
1.5%Current Building 1.5%
Submarket 2-4 Star
Metro Overall 9.2%
11.0%
Gross Asking Rent Per SF 2017 Q2 YOY
0.3%
5.3%
Current Building $45.56
Submarket 2-4 Star
Metro Overall $26.93
$22.90
-
Submarket Leasing Activity 2017 Q2 YOY
15.1
4.2%12 Mo. Leased SF 243,324
Months On Market 8.8
9/29/2017Copyrighted report licensed to Re/Max 5 Star Realty - 746067.
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P. 10
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
3 5491 N University DrCoral Springs, FL 33067 - NW Broward/Coral Springs Submarket
RENTSAsking Rent: $25.00/MG
PROPERTY EXPENSESTaxes: $1.98/SF (2011)Operating Exp.: $6.52/SF (2011)Total Exp.: $8.50/SF (2011)
LEASESF Leased: 1,200 SFSign Date: Feb 2017Space Use: OfficeLease Type: DirectFloor: 2nd FloorSuite: 202
LEASE TERMStart Date: Mar 2017
TIME VACANTDate Occupied: Mar 2017
TIME ON MARKETDate On Market: Oct 2016Date Off Market: Feb 2017Months on Market: 4 Months
LEASING REPBox Real Estate LLC12480-12488 W Atlantic BlvdCoral Springs, FL 33071Jason Chamely (954) 857-1884
PROPERTYRentable Area: 14,000 SFStories: 2Floor Size: 7,000 SFVacancy at Lease: 0.0%Land Acres: 14.19
Property Type: OfficeStatus: Built 2005Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: 50 free Surface Spa…
MARKET AT LEASE
Vacancy Rate 2017 Q1 YOY
0.9%
1.4%
0.0%Current Building 0.0%
Submarket 2-4 Star
Metro Overall 9.5%
11.0%
Gross Asking Rent Per SF 2017 Q1 YOY
0.1%
4.8%
Current Building $25.00
Submarket 2-4 Star
Metro Overall $26.55
$23.13
-
Submarket Leasing Activity 2017 Q1 YOY
14.1
57.9%12 Mo. Leased SF 312,351
Months On Market 12.5
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5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
4 5551 N University Dr - B 5Coral Springs, FL 33067 - NW Broward/Coral Springs Submarket
RENTSAsking Rent: $25.00/MG
LEASESF Leased: 1,113 SFSign Date: Oct 2016Space Use: OfficeLease Type: DirectFloor: 1st FloorSuite: 202
LEASE TERMStart Date: Dec 2016
TIME VACANTDate Vacated: Dec 2016Date Occupied: Dec 2016Months Vacant: 1 Day
TIME ON MARKETDate On Market: Aug 2016Date Off Market: Oct 2016Months on Market: 3 Months
LEASING REPBox Real Estate LLC12480-12488 W Atlantic BlvdCoral Springs, FL 33071Jason Chamely (954) 857-1884
PROPERTYRentable Area: 13,623 SFStories: 2Floor Size: 7,294 SFVacancy at Lease: 0.0%
Property Type: OfficeStatus: Built Jun 2005Tenancy: MultiClass: BConstruction: Reinforced ConcreteParking: 50 free Surface Spa…
MARKET AT LEASE
Vacancy Rate 2016 Q4 YOY
1.7%
1.4%
0.0%Current Building 0.0%
Submarket 2-4 Star
Metro Overall 9.7%
10.2%
Gross Asking Rent Per SF 2016 Q4 YOY
2.3%
6.8%
Current Building $25.00
Submarket 2-4 Star
Metro Overall $26.65
$23.83
-
Submarket Leasing Activity 2016 Q4 YOY
11.6
76.2%12 Mo. Leased SF 319,738
Months On Market 14.2
9/29/2017Copyrighted report licensed to Re/Max 5 Star Realty - 746067.
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P. 12
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Lease Comps DetailsLease Comps Report
5 5461 N University Dr - A 3Coral Springs, FL 33067 - NW Broward/Coral Springs Submarket
PROPERTY EXPENSESTaxes: $4.02/SF (2016)
LEASESF Leased: 100 SFSign Date: Jun 2016Space Use: OfficeLease Type: SubleaseFloor: 1st Floor
LEASE TERMStart Date: Jul 2016
TIME VACANTDate Occupied: Jul 2016
TIME ON MARKETDate On Market: Dec 2015Date Off Market: Jun 2016Months on Market: 6 Months
LEASING REPCentury 21 Tenace Realty1835 University DrCoral Springs, FL 33071Andres Mendez (954) 755-2100
PROPERTYRentable Area: 7,104 SFStories: 1Floor Size: 7,104 SFVacancy at Lease: 0.0%
Property Type: OfficeStatus: Built Nov 2004Tenancy: MultiClass: BParking: Surface Spaces @ $…
MARKET AT LEASE
Vacancy Rate 2016 Q2 YOY
1.4%
0.8%
0.0%Current Building 0.0%
Submarket 2-4 Star
Metro Overall 10.5%
11.6%
Gross Asking Rent Per SF 2016 Q2 YOY
0.5%
4.1%
Current Building -
Submarket 2-4 Star
Metro Overall $25.58
$22.82
-
Submarket Leasing Activity 2016 Q2 YOY
1.7
15.9%12 Mo. Leased SF 233,447
Months On Market 23.9
9/29/2017Copyrighted report licensed to Re/Max 5 Star Realty - 746067.
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P. 13
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
RentsLease Comps Report
Gross Asking Rent Per SF
$28.33Gross Starting Rent Per SF
-Gross Effective Rent Per SF
-Avg. Months Free Rent
-DEALS BY GROSS ASKING, GROSS STARTING, AND GROSS EFFECTIVE RENT
DEALS BY MONTHS FREE RENTDEALS BY ASKING RENT DISCOUNT
9/29/2017Copyrighted report licensed to Re/Max 5 Star Realty - 746067.
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P. 14
DETAILED GENERAL EXPENSES5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection byand/or with the appropriate professionals.
Description Year 1 Year 2 Year 3 Year 4 Year 5
Total Expenses ($62,554) ($62,554) ($62,554) ($62,554) ($62,554)
HOA ($30,630) ($30,630) ($30,630) ($30,630) ($30,630)
Maintenance ($4,944) ($4,944) ($4,944) ($4,944) ($4,944)
Taxes - Real Estate ($26,980) ($26,980) ($26,980) ($26,980) ($26,980)
P. 15
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
9800 W Commercial BlvdVA Sunrise MOB - VA Broward County Outpatient ClinicSunrise, FL 33351
Class B Medical Building of 107,000 SF Sold on 5/25/2017 for$49,730,000 - Research Complete (Part of Portfolio)
buyer
Healthcare Trust of America, Inc.16435 N ScottsdaleScottsdale, AZ 85254(480) 998-3478
Duke Realty Corporation600 E 96th StIndianapolis, IN 46240(317) 808-6000
seller
vital data
Sale Date: 5/25/2017Days on Market: -
Exchange: NoConditions: Bulk/Portfolio Sale
Land Area SF: 405,326Acres: 9.31
$/SF Land Gross: $122.69Year Built, Age: 2008 Age: 8
Parking Spaces: 369Parking Ratio: 3.31/1000 SF
FAR 0.26Lot Dimensions: -
Frontage: -
Comp ID: 3917466
Sale Price: $49,730,000Status: Full Value
Building SF: 107,000 SFPrice/SF: $464.77
Pro Forma Cap Rate: -Actual Cap Rate: -
Down Pmnt: -Pct Down: -
Doc No: 0045461Trans Tax: $3,691.07
Corner: NoZoning: B-3
No Tenants: 2Percent Improved: -
Submarket: Plantation
Property Type: Office
SingleTenancy:
Parcel No: -Map Page: -
Escrow/Contract: -
income expense data Listing Broker
Buyer Broker
prior sale
Date/Doc No:Sale Price:
CompID:
10/10/2012$342,000,000
2573863
financing
Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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P. 16
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
5850 Coral Ridge Dr, Unit 203Heron Bay Corporate Center 1 - Heron Bay Corporate CenterCoral Springs, FL 33076
Class A Office Condo of 514 SF Sold on 4/3/2017 for $200,000 -Public Record
buyer
Sr Properties One Llc5850 Coral Ridge DrCoral Springs, FL 33076
203 Heron Llc
seller
vital data
Sale Date: 4/3/2017Days on Market: -
Exchange: NoConditions: -
Land Area SF: 19,506Acres: 0.45
$/SF Land Gross: $10.25Year Built, Age: 2007 Age: 9
Parking Spaces: 200Parking Ratio: 4/1000 SF
FAR 2.31Lot Dimensions: -
Frontage: -
Comp ID: 3885624
Sale Price: $200,000Status: -
Condo Type: 514 SF Office CondoBuilding SF: 45,000 SF
Price/SF: $389.11Pro Forma Cap Rate: -
Actual Cap Rate: -Down Pmnt: -
Pct Down: -Doc No: 114315589
Trans Tax: -Corner: NoZoning: B-3
No Tenants: 25Percent Improved: 90.0%
Submarket: NW Broward/Coral Springs
Property Type: Office
-Tenancy:
Parcel No: 48-41-05-AA-0100Map Page: -
Escrow/Contract: -
income expense data Listing Broker
Buyer Broker
prior sale
Date/Doc No:Sale Price:
CompID:
12/1/2016$360,0003784761
financing
Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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P. 17
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
2381 NW Executive Center DrPeninsula Executive Center IBoca Raton, FL 33431
Class A Office Building of 100,000 SF Sold on 6/15/2017 for$31,924,898 - Research Complete (Part of Multi-Property)
buyer
C. Talanian Realty Co., Inc.c/o David Coughlan137-141 Newbury StBoston, MA 02116(617) 536-4655
CDR Realty, L.L.C.c/o Ed Steinhardt2424 N Federal HwyBoca Raton, FL 33431(561) 395-7588
seller
vital data
Sale Date: 6/15/2017Days on Market: -
Exchange: YesConditions: 1031 Exchange
Land Area SF: 133,267Acres: 3.06
$/SF Land Gross: $239.56Year Built, Age: 1998 Age: 18
Parking Spaces: 202Parking Ratio: 4/1000 SF
FAR 0.75Lot Dimensions: -
Frontage: -
Comp ID: 3929526
Sale Price: $31,924,898Status: Allocated
Building SF: 100,000 SFPrice/SF: $319.25
Pro Forma Cap Rate: -Actual Cap Rate: 6.00%
Down Pmnt: -Pct Down: -
Doc No: 29159-0503Trans Tax: $418,250
Corner: NoZoning: RB1
No Tenants: 3Percent Improved: -
Submarket: Boca Raton West
Property Type: Office
SingleTenancy:
Parcel No: -Map Page: -
Escrow/Contract: 120 days
income expense data
Cash Flow
$3,585,000
- Capital Expenditure- Debt Service
Net Operating IncomeEstimated Net Income
Listing Broker
HFF1450 Brickell AveMiami, FL 33131(305) 448-1333Chris Drew, Hermen Rodriguez, Ike Ojala
Buyer Broker
No Buyer Broker on Deal
prior sale
Date/Doc No:Sale Price:
CompID:
11/1/2000$33,375,000
514577
financing
Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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P. 18
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
2385 NW Executive Center DrPeninsula Executive Center IIBoca Raton, FL 33431
Class A Office Building of 87,158 SF Sold on 6/15/2017 for$27,825,102 - Research Complete (Part of Multi-Property)
buyer
C. Talanian Realty Co., Inc.c/o David Coughlan137-141 Newbury StBoston, MA 02116(617) 536-4655
CDR Realty, L.L.C.c/o Ed Steinhardt2424 N Federal HwyBoca Raton, FL 33431(561) 395-7588
seller
vital data
Sale Date: 6/15/2017Days on Market: -
Exchange: YesConditions: 1031 Exchange
Land Area SF: 116,157Acres: 2.67
$/SF Land Gross: $239.55Year Built, Age: 1999 Age: 18
Parking Spaces: 150Parking Ratio: 4/1000 SF
FAR 0.75Lot Dimensions: -
Frontage: -
Comp ID: 3929526
Sale Price: $27,825,102Status: Allocated
Building SF: 87,158 SFPrice/SF: $319.25
Pro Forma Cap Rate: -Actual Cap Rate: 6.00%
Down Pmnt: -Pct Down: -
Doc No: 29159-0503Trans Tax: $418,250
Corner: NoZoning: RB1
No Tenants: 28Percent Improved: -
Submarket: Boca Raton West
Property Type: Office
SingleTenancy:
Parcel No: -Map Page: -
Escrow/Contract: 120 days
income expense data
Cash Flow
$3,585,000
- Capital Expenditure- Debt Service
Net Operating IncomeEstimated Net Income
Listing Broker
HFF1450 Brickell AveMiami, FL 33131(305) 448-1333Chris Drew, Hermen Rodriguez, Ike Ojala
Buyer Broker
No Buyer Broker on Deal
prior sale
Date/Doc No:Sale Price:
CompID:
11/1/2000$33,375,000
514577
financing
Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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P. 19
5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Dollar Volume
Legend:
Current SurveySold Transactions 4
$109,680,000Number of TransactionsTotal Dollar Volume
294,67215.04
Total Bldg Square FeetTotal Land in Acres
655,142$27,420,000
Total Land in SFAverage Price
73,668$372.21
Average Number of SFAverage Price Per Bldg SF
$354.185.01
Median Price Per SFAverage Number of Acres
218,381-
Average Number of SF(Land)Average Price Per Unit
--
Median Price Per UnitAverage Number of Units
-Actual Cap Rate
SoldTransactions
Time Interval - Quarterly
Report Time Frame: 6/1/2017 - 9/29/2017
Trend Report
Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Trend Report2Q17 04/1-6/30/17
Number of TransactionsTotal Dollar VolumeTotal Bldg Square FeetTotal Land in AcresTotal Land in SFAverage PriceAverage Number of SFAverage Price Per Bldg SFMedian Price Per SFAverage Number of AcresAverage Number of SF(Land)Average Price Per UnitMedian Price Per UnitAverage Number of UnitsActual Cap Rate
Sold Transaction
4$109,680,000
294,67215.04
655,142$27,420,000
73,668$372.21$354.18
5.01218,381
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Copyrighted report licensed to Re/Max 5 Star Realty - 746067. 9/29/2017
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5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Cleveland Clinic Florida breaks ground on Coral Springs surgery
center Ron Hurtibise
Cleveland Clinic Florida logged another milestone in its marathon expansion through South Florida with a ceremony marking the start of construction of a new family health and ambulatory surgery center in Coral Springs.
The 72,000 square foot Family Health and Ambulatory Surgery Center, scheduled to open next year, will offer specialty care, outpatient surgical services and imaging services, clinic officials said. It will include six operating rooms, 24 prep and recovery bays, two endoscopy suites, imaging services and 40 exam rooms.
The center will enable patients throughout the region, as well as from Palm Beach County, to schedule surgeries without having to travel to the clinic’s main
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5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
campus in Weston, said Dr. Wael Barsoum, Cleveland Clinic president. The company currently has no surgical facilities in Palm Beach County, Barsoum said.
On hand for the ceremony, held inside an air conditioned tent, was a who’s who of city officials, including the mayor, vice mayor, commission members, manager and fire chief.
Mayor Skip Campbell said the expansion will provide another choice for residents of Coral Springs and surrounding communities, along with health care facilities by regional powers Holy Cross, Baptist Health, Sylvester Comprehensive Cancer Center, and Broward Health, which operates a 200-bed hospital southwest of the intersection of North University Drive and West Sample Road.
“The community will have a lot more options to consider when seeking medical care,” Campbell said.
Cleveland Clinic Florida bought the 5.3-acre site, at the southeast corner of the intersection of North University Drive and the Sawgrass Expressway, for $1.1 million in 1996, Broward County property records show.
Campbell recalled a time when it was far from clear that Cleveland Clinic would be allowed to establish any presence in South Florida, let alone its eight locations in the region.
“I was here 30 years ago when hospital politics were trying to make Cleveland Clinic non-existent in the state of Florida,” Campbell said.
The clinic has come a long way since establishing its South Florida beachhead in 1988. That was the year it opened a 76,000-square-foot outpatient center in Fort Lauderdale -- about the same size as the planned Coral Springs center.
For more than a decade, the clinic occupied the building at 3000 W. Cypress Creek Road and another it purchased in 1990 near the ocean, as it fought local healthcare organizations and state regulators who were convinced the region didn’t need more hospital beds. The state relented in 1997 and in 2001, the clinic opened its main campus in Weston, where demand for hospital services was heavy and growing.
Today, Cleveland Clinic Florida facilities are also in Parkland, Palm Beach Gardens and West Palm Beach.
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5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
Another facility is being eyed for Wellington, along with a location north of the Coral Springs site that Barsoum declined to identify.
The company still believes demand for its services exists in South Florida as the region continues to grow, Barsoum said.
“I would not say the area is saturated [with hospitals] at all,” he said. The 150-bed Weston hospital “is full almost every day, and there were days last week when the hospital had 190 patients. Transfers of really sick patients from other hospitals are increasing. Chances are if someone needs a kidney, liver or heart transplant, we are going to do it.”
He said the company is monitoring the state Legislature for enactment of a bill that would enable outpatient surgery centers to keep patients overnight. If it passes, overnight stays would take place at the new Coral Springs center, he said.
[email protected], 954-356-4071, twitter: twitter.com/ron_hurtibise
Copyright © 2017, Sun Sentinel
• Healthcare Providers • Medical Procedures • Cleveland Clinic
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DEMOGRAPHICS5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
POPULATION 1 MILE 3 MILE 5 MILE
Male 5,434 (47.33 %) 52,235 (47.75 %) 127,659 (48.07 %)
Female 6,046 (52.67 %) 57,158 (52.25 %) 137,909 (51.93 %)
Total Population 11,480 109,393 265,568
AGE BREAKDOWN 1 MILE 3 MILE 5 MILE
Ages 0-4 608 (5.30 %) 6,375 (5.83 %) 14,274 (5.37 %)
Ages 5-9 804 (7.00 %) 8,435 (7.71 %) 18,682 (7.03 %)
Ages 10-14 788 (6.86 %) 8,307 (7.59 %) 18,489 (7.03 %)
Ages 15-19 848 (7.39 %) 8,472 (7.74 %) 18,772 (7.07 %)
Ages 20-24 914 (7.96 %) 8,102 (7.41 %) 18,334 (6.90 %)
Ages 25-29 819 (7.13 %) 7,247 (6.62 %) 16,882 (6.36 %)
Ages 30-34 708 (6.17 %) 6,425 (5.87 %) 15,345 (5.78 %)
Ages 35-39 634 (5.52 %) 6,122 (5.60 %) 14,982 (5.64 %)
Ages 40-44 649 (5.65 %) 6,527 (5.97 %) 16,360 (6.16 %)
Ages 45-49 755 (6.58 %) 7,249 (6.63 %) 18,343 (6.91 %)
Ages 50-54 825 (7.19 %) 7,529 (6.88 %) 18,850 (7.10 %)
Ages 55-59 818 (7.13 %) 7,278 (6.65 %) 18,046 (6.80 %)
Ages 60-64 699 (6.09 %) 6,325 (5.78 %) 15,627 (5.88 %)
Ages 65-69 514 (4.48 %) 4,853 (4.44 %) 12,341 (4.65 %)
Ages 70-74 344 (3.00 %) 3,496 (3.20 %) 9,223 (3.47 %)
Ages 75-79 228 (1.99 %) 2,400 (2.19 %) 6,744 (2.54 %)
Ages 80-84 182 (1.59 %) 1,568 (1.43 %) 4,916 (1.85 %)
Ages 85+ 343 (2.99 %) 2,683 (2.45 %) 9,358 (3.52 %)
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DEMOGRAPHICS5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
Median Income $89,588 $72,809 $66,762
Less than $10,000 140 1,190 3,941
$10,000 -$14,999 111 1,157 3,294
$15,000 - $19,999 235 1,656 3,985
$20,000 -$24,999 152 1,317 4,607
$25,000 - $29,999 255 1,437 3,627
$30,000 - $34,999 245 1,422 5,000
$35,000 - $39,999 251 1,768 4,679
$40,000 - $44,999 168 1,485 4,489
$45,000 - $49,999 94 1,328 3,981
$50,000 - $59,999 151 2,878 7,834
$60,000 - $74,999 275 3,504 10,510
$75,000 - $99,999 538 5,125 13,674
$100,000 - $124,999 535 4,086 9,850
$125,000 - $149,999 386 2,493 5,717
$150,000 - $199,999 334 2,871 5,729
Greater than $200,000 314 3,899 5,958
HOUSING 1 MILE 3 MILE 5 MILE
Housing Units 4,689 41,000 107,479
Occupied Units 4,197 37,481 97,056
Owner Occupied Units 3,162 25,673 70,085
Renter Occupied Units 1,035 11,808 26,971
Vacant Units 492 3,519 10,423
RACE DEMOGRAPHICS 1 MILE 3 MILE 5 MILE
Population Non Hispanic White 8,952 78,198 195,293
Population Black 1,342 19,039 41,974
Population Am In/Ak Nat 1 25 141
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LOCATION MAP5441 N University Dr | Coral Springs, FL 33065
The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteedand should be personally verified through personal inspection by and/or with the appropriate professionals.
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