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2701 Southwest 42nd Avenue

City National Bank Leases Office Space From Ponte Gadea At 2701 Le Jeune Ave
LEASEDMultiFamily

City National Bank Leases Office Space From Ponte Gadea At 2701 Le Jeune Ave

2701 Southwest 42nd Avenue

$67

$67/SF

Building Size

144,878 SF

Asset Type

MultiFamily

Closing

Jan 28, 2025

AI

The property asset involved in this transaction is an office space located at 2701 Le Jeune Ave in Coral Gables. The asset encompasses a total area of 144,878 square feet with an asking rent of $67 per square foot. This lease agreement is categorized as a Full Service Gross lease.

Summary of transaction details:

The deal involved several key individuals from CBRE, who represented the landlord and facilitated the leasing process, showcasing their collaboration and expertise in the transaction. Each broker contributed to the successful culmination of the lease agreement for the tenant, City National Bank.

Players

Jeffrey Gordon

CBRE

Broker

8 deals

Broker
PG
Ponte GadeaLandlord

Miami MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

236761.19%

Cash-on-Cash

-67667.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93