HKS Leases 12,132 SF Office Space At 2020 Salzedo St, Coral Gables
2020 Salzedo St, Coral Gables, FL, 33...
Building Size
12,132 SF
Asset Type
Office
Closing
Oct 11, 2017
About this deal
AI
2020 Salzedo St in Coral Gables, FL, is a new mixed-use development where worldwide architectural design firm HKS recently signed a lease for 12,132 square feet. Additionally, tech company Ilumno Management also leased 9,294 square feet, bringing the building's occupancy to 95 percent.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not provided
- Tenant's Rep: Tony Jones (Cushman & Wakefield)
- Landlord: Codina Partners
- Square Feet: 12,132
- Market: Coral Gables
Alexander Cahlin at Blanca Commercial Real Estate represented Ilumno Management in the leasing deal, while Tony Jones from Cushman & Wakefield represented HKS in the transaction.
On the Map
Office
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Players
Coral Gables 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