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20807 Biscayne Boulevard

Ted Pick Of Morgan Stanley Renews 42422 SF Office Lease At Aventura Corporate Center
LEASEDOffice

Ted Pick Of Morgan Stanley Renews 42422 SF Office Lease At Aventura Corporate Center

20807 Biscayne Boulevard

Building Size

42,422 SF

Asset Type

Office

Closing

Feb 16, 2025

AI

The property involved in this transaction is located at 20801, 20803 & 20807 Biscayne Boulevard in Aventura, FL. It comprises a total square footage of 42,422 within a 250,000 SF Class A campus known as Aventura Corporate Center. The market for this asset type is Aventura.

Summary of transaction details:

This deal reflects the ongoing trend of financial firms reinforcing their South Florida foothold, facilitated by key representatives in the leasing process. The transaction was brokered effectively by Christina Stine Jolley, representing the landlord, while Adam Bernstein and Zach Wendelin represented Morgan Stanley as the tenant's representatives.

Players

Adam Bernstein

JLL

Broker

8 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