Starbucks Wairua And Lola And The Boys Lease 4719 Square Feet At Esplanade In Aventura
19505 Biscayne Boulevard
$1
$1/SF
Building Size
4,719 SF
Asset Type
Mixed-use
Closing
Mar 10, 2025
AI
The asset involved in the transaction is a mixed-use property located at 19505 Biscayne Boulevard in Aventura. This mixed-use lifestyle development encompasses retail, restaurants, fitness, and services, with a total of 4,719 square feet available for leasing. The rent is set at $1 per square foot, contributing to a dynamic leasing environment in the area.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: 1
- Address: 19505 Biscayne Boulevard
- Market: Aventura
- Tenant: Starbucks, Wairua Beauty, Lola and The Boys
- Landlord: Seritage Growth Properties
- Tenant's Representatives: Aracibo Quintana (Ripco), Angel Sanchez (Curated Firm)
- Landlord's Representatives: Michael Sullivan (Vertical Real Estate), Lyle Stern (Vertical Real Estate), Noah Fox (Vertical Real Estate), Riley Scharf
- Brokers: Riley Scharf (Vertical Real Estate)
- Square Feet: 4,719.0
This leasing transaction enhances Esplanade at Aventura, which features 215,000 square feet of mixed-use space, solidifying its status as a notable destination. The deal includes an impressive blend of tenants that join existing brands within this development, which further amplifies its appeal in the South Florida area.
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
15863000.00%
Cash-on-Cash
-4533694.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93