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100 Southeast 2nd Street

Quest Workspaces Leases Office Space In Miami's Southeast 2nd Street With Tenant's Rep Lance Benson And Landlord's Rep Gordon Messinger & Randy Carballo Of CBRE
LEASEDOffice

Quest Workspaces Leases Office Space In Miami's Southeast 2nd Street With Tenant's Rep Lance Benson And Landlord's Rep Gordon Messinger & Randy Carballo Of CBRE

100 Southeast 2nd Street

$57

$57/SF

Building Size

13,000 SF

Asset Type

Office

Closing

Oct 11, 2023

AI

The office property located at 100 Southeast 2nd Street in Miami has recently been leased. The asset spans a total of 27,000 square feet and was leased by Quest Workspaces. The landlords of the property are DRA Advisors and CP Group, while the tenant was represented by Lance Benson from Newmark. The landlord's representatives in the deal were Gordon Messinger and Randy Carballo from CBRE.

Summary of transaction details

  • Property Type: Office
  • Asking Rent: $57.00/ft.
  • Size: 27,000 square feet
  • Address: 100 Southeast 2nd Street, Miami
  • Landlords: DRA Advisors & CP Group
  • Tenant: Quest Workspaces
  • Landlord's Representative: Gordon Messinger & Randy Carballo - CBRE
  • Tenant's Representative: Lance Benson - Newmark

The deal was brokered by Lance Benson from Newmark on behalf of the tenant, Quest Workspaces. Gordon Messinger and Randy Carballo, representing CBRE, worked as the landlord's representatives in the transaction. The leasing agreement was executed at an asking rent of $57.00 per square foot.

Players

Gordon Messinger

CBRE

Broker

$164M

vol

33 deals

Broker
DRA Advisors
DRA AdvisorsLender
DRA Advisors
DRA AdvisorsLandlord
QW
Quest WorkspacesTenant

Miami Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

278298.25%

Cash-on-Cash

-79538.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93