UPP Global Leases Development Site At 255 Northeast 1st Street Miami For $24 Million

The property is a development site located at 255 Northeast 1st Street in Miami. It has an asking rent of $9 per square foot and spans a total of 257,712 square feet. The lease is structured as a NNN Lease with a term of 10 years.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24 million
• Tenant: UPP Global
• Broker: Shai Ben Ami - Urban Core
• Lease Term: 10 years
• Asking Rent: $9/ft

Shai Ben Ami from Urban Core represented the interests of the asset in this transaction. The deal is supported by a premier national parking operator secured under the lease, indicating strong income potential and future growth prospects due to substantial development rights associated with the property.