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2 S Biscayne Blvd Miami, FL...

CP Group Announces Five New Leasing Agreements For 32,000 SF Office Space At One Biscayne Tower Downtown Miami
LEASEDOffice

CP Group Announces Five New Leasing Agreements For 32,000 SF Office Space At One Biscayne Tower Downtown Miami

2 S Biscayne Blvd Miami, FL 33131, USA

$63

$63/SF

Building Size

32,000 SF

Asset Type

Office

Closing

May 8, 2023

AI

CP Group, Florida's largest office landlord, has announced five new leasing agreements totaling over 32,000 square feet at One Biscayne Tower, a Class A office tower in Downtown Miami. The tower is currently undergoing a multi-million-dollar capital improvement project, which includes a complete exterior makeover and upgrades to the lobby, tenant floors, and the addition of a high-end café and a new restaurant.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: N/A
  • Address: 2 South Biscayne Boulevard
  • Market: Downtown Miami

CP Group is the landlord of the property, while Fundkite, Telecom Italia Sparkle, Taylor English, Applied Value, and Valley Forge Capital Management are the tenants. The leasing agreements were facilitated by Brian Gale, Andrew Trench, Ryan Holtzman, and Lena Weeks from Cushman & Wakefield, who represented the landlord. Adam Talbot from Cresa and Tony Jones from Cushman & Wakefield represented the tenants, along with Christopher Harak from Blanca and Shay Pope from CBRE.

Players

Brian Gale

Cushman & Wakefield

Broker

$389M

vol

16 deals

Broker
CG
CP GroupLandlord

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

251793.65%

Cash-on-Cash

-71963.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93