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161 Northwest 6th Avenue Mi...

Nuveen Real Estate & Allianz Group Lease Office Space In Miami
LEASEDOffice

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

Nuveen
NuveenLender
Nuveen
NuveenLandlord

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