Industrious Signs Lease For 45000 Square Feet At 1150 Brickell Bay Dr Miami With Parkway Properties
1150 Brickell Bay Dr, Miami, FL, 33131
Building Size
45,000 SF
Asset Type
—
Closing
Nov 20, 2023
AI
The property asset involved in this transaction is located at 1150 Brickell Bay Dr, Miami, FL, 33131. It encompasses 45,000 square feet within the Miami market, under the ownership of Parkway Properties.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 1150 Brickell Bay Dr, Miami, FL, 33131
- Market: Miami
- Square Feet: 45,000
- Landlord: Parkway Properties
- Tenant: Industrious
- Landlord's Representatives: John Guitar (Blanca Commercial Real Estate), Jonathan Carter (Colliers International)
The deal involves tenant Industrious leasing the premises with Parkway Properties as the landlord. John Guitar and Jonathan Carter represent the landlord in this transaction, facilitating the lease agreement between the involved parties.
Players
Miami CRE Market Snapshot
Boundary boundary · CRE · 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