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201 S Biscayne Blvd

CP Group Leases 38,731 SF Office Space At Citigroup Center In Miami
LEASEDOffice

CP Group Leases 38,731 SF Office Space At Citigroup Center In Miami

201 S Biscayne Blvd

Building Size

38,731 SF

Asset Type

Office

Closing

Nov 30, 2023

AI

The CP Group has finalized leasing deals totaling 38,731 square feet at the 34-story Citigroup Center in downtown Miami. The transactions include six new tenants and two renewals. The property, located at 201 South Biscayne Boulevard, offers a newly renovated lobby, café, valet service program, and health and wellness initiatives for tenants.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Market: Miami
  • Address: 201 South Biscayne Boulevard
  • Size: 38,731 square feet

The tenants involved in the leasing deals are Trion Properties represented by Max Sharkansky, Lithium Capital Management, Kili Topco Ltd, Marex Solutions, Pisec Group represented by Karl Pisec, and the Miami Downtown Development Authority. The leasing transactions were facilitated by Douglas Okun, Madeline Fine, and Steven Hurwitz from JLL.

Players

Steven Hurwitz

JLL

Broker

5 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93