Heidi Eckes-Chantre, Kim Tabet And Christopher Brown Lease 34000 Sq Ft At 2222 Ponce De Leon Blvd
2222 Ponce De Leon BLVD, Miami, FL...
Building Size
34,000 SF
Asset Type
Office
Closing
Nov 20, 2023
AI
A 34,000 square feet lease has been finalized at 2222 Ponce De Leon Boulevard in Coral Gables, Florida. This property is part of Giralda Place, a mixed-use project currently under construction that will feature both office and retail space. The location is positioned in a pivotal area of downtown Coral Gables and includes amenities tailored for co-working, such as private offices, conference rooms, and community spaces.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 2222 Ponce De Leon BLVD, Miami, FL
- Market: Coral Gables
- Landlord: Heidi Eckes-Chantre, Kim Tabet, and Christopher Brown
- Landlord's Representative: Gordon Messinger (CBRE)
- Tenant: WeWork
- Square Feet: 34,000
This deal represents a significant step for WeWork as it will occupy the first floor and floors 3 to 7 of the eastern office tower. The developers, Heidi Eckes-Chantre, Kim Tabet, and Christopher Brown, have implemented a design that integrates office space with retail components, enhancing the overall utility of the building within the community. WeWork is expected to provide spaces for up to 550 members, catering to a growing demand for flexible office solutions in the area.
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