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1501 Biscayne Boulevard

Key Point Academy Leases 62,349 SF Office Space At 1501 Biscayne Blvd, Miami
LEASEDOffice

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

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

Pablo Camposano

Colliers

Broker

$17.5M

vol

3 deals

Broker

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