Florida East Coast Realty Secures Five New Leases At 1101 Brickell Avenue Miami
1101 Brickell Avenue
Building Size
13,252 SF
Asset Type
Office
Closing
Aug 8, 2024
AI
The asset involved in the transaction is an office property located at 1101 Brickell Avenue in Miami, comprising a total area of 13,252 square feet. The property is currently under the ownership of Florida East Coast Realty.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1101 Brickell Avenue
- Market: Miami
- Square Footage: 13,252
- Landlord: Jerome Hollo & Austin Hollo - Florida East Coast Realty
- Tenants: Moroccan Consulate (6,525 SF); Marc Swanson - United Parks & Resorts (3,139 SF); Leonardo Reis - American English Academy (1,785 SF); Rob Stephenson - Thrive Networks (1,065 SF); Frank Cruz - World Trade Corporation (738 SF)
- Landlord's Representative: Ana Paula, Jake Freeman & Kevin Gonzalez - Colliers
- Tenant's Representatives: Adam Bernstein - JLL; Natalia Betancur - Casa Florida Group; Sam Singer - Vertical Real Estate; Shary Thur - Thur Retail; Alex Joch - Realty Hub
Florida East Coast Realty has successfully secured five new leases totaling 13,000 square feet at its office property. The leasing team from Colliers, consisting of Ana Paula, Kevin Gonzalez, and Jake Freeman, is offering additional contiguous office space ranging from 1,000 to 39,000 square feet, indicating future opportunities in the property.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93