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19505 Biscayne Boulevard

Starbucks Wairua And Lola And The Boys Lease 4719 Square Feet At Esplanade In Aventura
LEASEDMixed-use

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:

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

Lyle Stern

Vertical Real Estate

Broker

$44.3M

vol

11 deals

Broker
Seritage Growth Properties
Seritage Growth PropertiesLandlord
Starbucks
StarbucksTenant

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