Win-Win-Win in This Coral Springs Investment Deal!

The Commercial Real Estate Team of Brian T. Ahearn, CCIM and JC Conte have successfully sold the Aspen Office Building in Coral Springs, Florida! The team represented the seller in this transaction.

The seller owned the building for around 30 years or so, and had originally planned for a surgical center. Unfortunately, the plans didn’t come to fruition due to uncontrollable events. However, the seller was able to rent the medical offices throughout the building, which was perfect usage of the space and an even better way to capture income.

When asked how this transaction differed from others, Brian says,

“Due to the asset being in the seller’s portfolio for such a long time, gathering the financials for all of the individual leases, which were all different lease types, and being able to arrive at an NOI took some time,” Brian continues, “It wasn’t your typical NNN one off sale where the financials are straight forward. This building had various types of leases which required manual review and input for accuracy.”

The three-story 18,400-square-foot office building sold for three million dollars and was approximately 82% leased at the time of closing.

“This was a transaction where we had a happy seller and a happy buyer. It was absolutely a fair transaction and we’re glad we closed at the time that we did,” says Brian.

Seller Laura Haimes had this to say about the transaction:

“I am very pleased that Brian & JC found the perfect local buyer who recognized the long term value add opportunity that this unique asset represented. I know this was a win-win for all parties.”

About Brian T.  Ahearn, CCIM
Professional Experience
Prior to joining Butters Realty & Management, Mr. Ahearn served as Senior Commercial Advisor for Coldwell Banker Commercial NRT for over 11 years. At Coldwell Banker Commercial NRT Mr. Ahearn specialized in sales and leasing of industrial, office and investment properties. Brian was consistently recognized as one of the top 10 commercial agents for Coldwell Banker Commercial NRT in Florida. Some of the National awards he received while at Coldwell Banker Commercial NRT were Commercial Elite, Gold Circle of Distinction & Presidents Award. His prior client list is extensive and includes Advance Auto Parts, Wells Fargo Bank, Quanta Services Inc., Irby Construction Company, Florida International Marketing, DOKA USA, DR Horton, DHI Mortgage, Bertling Logistics, NitroFill, Tricab, ID & Design International and many others.

 Education and Current Responsibilities
Mr. Ahearn received a Bachelor of Science Degree in Business Administration from the H. Wayne Huizenga School of Business and Entrepreneurship at Nova Southeastern University in Fort Lauderdale, Florida. Mr. Ahearn was the 2019 President of the Broward County CCIM District and is currently on the Board of Directors where he has served since 2016. A CCIM (Certified Commercial Investment Member) is a recognized expert in the commercial and investment real estate industry. Mr. Ahearn is an integral part of the Industrial Brokerage Services Team for Buildings E, F, G and H at Hillsboro Technology Park in Deerfield Beach, Lyons Exchange Center in Coconut Creek and Cabot at 16th Street in Pompano Beach to name a few.

Traducción en español esta disponible:

¡Ganador-ganador-ganador en una transacción de inversión en Coral Springs!

¡El equipo de bienes raíces comerciales de Brian T. Ahearn, CCIM y JC Conte han vendido el edificio de oficinas Aspen en Coral Springs, Florida! El equipo representóo a la vendedora en esta transacción.

La vendedora había sido dueña del edificio por alrededor de unos 30 años, y originalmente había querido usar el edificio para un centro de cirugía. Desafortunadamente, los planes no se convirtieron reales por eventos fuera de su control. Pero, la dueña rento las oficinas medicas en el edificio que era un uso perfecto y también una manera para ella poder recibir ingresos.

Cuando le preguntamos a Brian como esta transacción era diferente de otras, el dijo, “Como la posesión capital estuvo en el portfolio de la vendedora por tanto tiempo, tener que buscar toda la información financiera de todos los contratos de alquiler – que por lo cual eran todos de distintos tipos de inquilinos – y poder llegar a un NOI tomo bastante tiempo,” Brian continua, “No era tu contrato de alquiler típico de NNN, dóonde las ventas son sencillas. Este edificio había tenido varios tipos de arrendamientos que requerían una repaso manual y precisa.”

El edificio de tres pisos que mide 18,400 pies cuadrados, vendió por tres millones de dólares y estaba casi al 82 porciento alquilado en el día de cierre.

“Esta fue una transacción doónde tuvimos una vendedora contenta, un comprador contento. Era absolutamente una transacción justa y estamos contentos que la cerramos cuando la cerramos,” dice Brian.

Vendedora, Laura Hames, dijo esto sobre la transacción: “Estoy bien contenta que Brian y JC encontraron un comprador local que pudo reconocer el valor y la oportunidad a largo plazo de esta propiedad única. Yo se que esta transacción era un “win-win” para todos los que estaban envueltos.”