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2916 N Miami Ave, Miami, FL...

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

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