Key Point Academy Leases 62,349 SF Office Space At 1501 Biscayne Blvd, Miami
1501 Biscayne Boulevard
Building Size
62,349 SF
Asset Type
Office
Closing
Jan 22, 2024
AI
Located at 1501 Biscayne Boulevard in Miami, the 1501 Omni Building is an office property spanning 62,349 square feet. The recent lease transaction involved Key Point Academy, with Peter Idagu signing a lease agreement to relocate the academy from 609 Brickell Ave to this new location.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Peter Idagu - Key Point Academy
- Brokers: Dave Preston, Jonathan Carter & Pablo Camposano - Colliers International
Colliers International played a pivotal role in the lease negotiations, representing both the landlord, Resorts World Omni, and the tenant, Peter Idagu and Key Point Academy. The relocation signifies a strategic move for Key Point Academy as they settle into their new 62,349-square-foot space in the 1501 Omni Building in Miami.
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