Pizza Pity Signs 10-Year Ground Lease On Wynwood Development Site

A ground lease deal has recently been closed in Wynwood, Miami. The property involved is a development site located at 25 NW 23rd St. The transaction took place between Forte Capital Management, the landlord, and Pizza Pity, the tenant. The lease terms are for 10 years, with an asking rent of $50 per square foot for a total of 3,000 square feet.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: N/A
• Address: 25 NW 23rd St
• Market: Wynwood, Miami
• Landlord: Forte Capital Management
• Tenant: Pizza Pity
• BROKERS: Josh Augenbaum - Augenbaum Realty ; Alfredo Pineda , Monica Rojas & Jeanine Correa - Realty ONE Group Evolution
• Lease Type: Ground Lease
• Lease Terms: 10 years

Josh Augenbaum from Augenbaum Realty and Alfredo Pineda, Monica Rojas, and Jeanine Correa from Realty ONE Group Evolution represented the parties involved in this deal. This ground lease agreement marks an important milestone for both the landlord and the tenant, providing a long-term leasing solution for Pizza Pity in the highly desirable Wynwood market.