Sara Wolfe Of Vertical Real Estate Secures Lease Deal In Miami Mixed-Use Development
3385 Pan American Dr, Miami, FL, 331...
Building Size
15,000 SF
Asset Type
Mixed-use
Closing
Nov 22, 2023
AI
The property at 3385 Pan American Drive in Miami, FL, is a mixed-use asset encompassing 15,000 square feet of space. It is situated within the Regatta Harbour development, a 9.5-acre mixed-use project in Miami. Anatomy, a fitness community integrating exercise with wellness and beauty, has opened its fourth South Florida location at Regatta Harbour, making it the first tenant at this location.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: Not specified in the context
- Landlord: The TREO Group
- Landlord's Representative: Sara Wolfe (Vertical Real Estate)
- Market: Miami
Lyle Stern and Sara Wolfe, from the Koniver Stern Group, are overseeing the leasing of the commercial space at Regatta Harbour. The TREO Group, a Miami-based real estate investment firm, owns the property and is involved in the development of the project. The location offers various amenities such as "The Sanctuary," cardio and strength equipment, group fitness classes, outdoor workout programming, and a Kids Club, catering to both fitness enthusiasts and families.
Players
Miami Mixed-use Market Snapshot
Boundary boundary · Mixed-use · 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