Millennium Partners Leases 1435 Brickell Ave Office Space To Bolton Global Capital
1435 Brickell Ave, Miami, FL, 33131
Building Size
21,000 SF
Asset Type
Office
Closing
Oct 7, 2019
AI
Located at 1435 Brickell Ave, Miami, FL, 33131, the property involved in the transaction is an office asset spanning 21,000 square feet. The lease was closed between the Tenant Bolton Global Capital and the Landlord Millennium Partners in the vibrant Miami market.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant's Representative: Steve Woodworth(Savills), Tyler Wyant(CBRE)
- Landlord: Millennium Partners
- Market: Miami
- Square Feet: 21,000
Principal Wayne Schuchts and Broker Bobby Benton from Avison Young represented the Landlord in the deal, while Tenant Bolton Global Capital was represented by Savills’ Steve Woodworth and Tyler Wyant from CBRE. The property, situated at the Four Seasons Tower, is now at 96% occupancy, with notable tenants such as HSBC, Urban Real Estate, and various law companies including Avison Young. Additionally, the Brickell submarket boasts the lowest Class A office vacancy rate in Miami-Dade County and commands the highest rents at $55.3 per square foot.
Players
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93