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1435 Brickell Ave, Miami, F...

Millennium Partners Leases 1435 Brickell Ave Office Space To Bolton Global Capital
LEASEDOffice

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:

Principal Wayne Schuchts and Broker Bobby Benton from Avison Young represented the Landlord in the deal, while Tenant Bolton Global Capital was represented by SavillsSteve 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

Steve Woodworth

Savills

Broker

3 deals

Broker
MP
Millennium PartnersLandlord

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