Nuveen Real Estate & Allianz Group Lease Office Space In Miami
161 Northwest 6th Avenue Miami, Florida 33128, USA
Building Size
76,200 SF
Asset Type
Office
Closing
Jul 3, 2023
AI
A lease transaction has taken place at 161 Northwest Sixth Street in Miami's Waterford Business District. The office space, which spans 76,200 square feet, has been leased to multiple tenants including HNTB, Ready Mortgage Lenders, John Paul USA, The Prudential Insurance Company of America, Miami Herald, and Toyota Tsusho America, Alca Trading, Diaspora Talktime, Bristol Hospice, CareCloud Health, Jamaica Tourist Board, and Terra Flowers Miami.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 161 Northwest Sixth Street
- Market: Miami
The landlord for this lease is Nuveen Real Estate and Allianz Group, and they were represented by Tere Blanca, Juan Ruiz, and Andres del Corral from Blanca Commercial Real Estate. The tenants involved in the lease were represented by David Browne from Savills, Adam Talbot from Cresa, Grant Killingsworth from CBRE, Chris Toth from JLL, Danet Linares from Blanca Commercial, Tony Jones from Cushman & Wakefield, Ana Paula from Colliers, Connor Cella from Pope Corporation, Adam Bernstein from JLL, and Andrew Easton from Easton & Associates.
In addition to the new tenants, existing tenant Toyota Tsusho America has also renewed their lease, securing their presence in the Waterford Business District near Miami International Airport.
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