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2916 N Miami Ave, Miami, FL...

Updated Sep 9, 2024

Bilt advertisement
Mindspace Leases Office Space At The Gateway At Wynwood In Miami
LEASEDOffice

Mindspace Leases Office Space At The Gateway At Wynwood In Miami

2916 N Miami Ave, Miami, FL, 33127

Building Size

30,000 SF

Asset Type

Office

Closing

Nov 22, 2023

About this deal

AI

The property at 2916 N Miami Ave, Miami, FL, 33127 is an office asset comprising 30,000 square feet located at The Gateway at Wynwood in Miami. Mindspace has signed a lease for 435 workstations spread across the entire sixth floor of this Class A office building. The building offers flexible floorplans, a private rooftop terrace, 24/7 on-site security, and a luxury car washing service. Mindspace Gateway at The Gateway at Wynwood is set to open in spring 2023.

Summary of transaction details:

Colliers' Executive Managing Director Stephen Rutchik, Managing Director Tom Farmer, and Director Tyler de la Pena represented The Gateway at Wynwood in the lease transaction with Mindspace. R&B Realty Group developed and manages the property, with Aron Rosenberg as the landlord. Mindspace is a global flex office provider that offers unique amenities and services tailored to the specific needs of companies, aiming to provide a premium office experience for its members.

Players

Tyler de la Peña

JLL

Broker

$19.1M

vol

7 deals

Broker
Aron Rosenberg

Aron Rosenberg

R&B Realty Group

Landlord

$184.5M

vol

7 deals

Landlord

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

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