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200 Biscayne Boulevard

White & Case Extends Office Lease At Southeast Financial Center In Miami
LEASEDOffice

White & Case Extends Office Lease At Southeast Financial Center In Miami

200 Biscayne Boulevard

Building Size

81,603 SF

Asset Type

Office

Closing

Apr 9, 2024

AI

The office property located at 200 Biscayne Boulevard in Miami encompasses 81,603 square feet across the 48th through 51st floors. The lease was secured by White & Case, a global law firm, from the landlord, Amancio Ortega of Zara, aiming to accommodate increased executive presence in Florida and better serve regional business interests.

Summary of transaction details:

White & Case's decision to extend and expand their office space at Downtown Miami's Southeast Financial Center aligns with a trend of notable tenants, including Morgan Stanley and BTG Pactual, leasing space in the skyscraper. The transaction was facilitated by brokers from JLL and Blanca Commercial Real Estate, showcasing a strategic move by the law firm to enhance its operations and services in the region.

Players

Greg McCavera

JLL

Broker

2 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