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:
- Property Type: Office
- Transaction Amount: $67/ft
- Address: 2701 Le Jeune Ave
- Market: Coral Gables
- Landlord: Ponte Gadea
- Tenant: City National Bank
- Brokers: Cameron Tallon, Eric Groffman, Randy Carballo, Matthew Goodman, Jeffrey Gordon & Ramon Hernandez - CBRE
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
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