The Maercks Institute Leases Office Space At 3050 Biscayne Blvd In Edgewater, Miami
3050 Biscayne Boulevard, Miami, Florida 33137, United States
Building Size
11,000 SF
Asset Type
Office
Closing
Feb 28, 2022
About this deal
AI
The Maercks Institute has recently signed a lease agreement for an office space located at 3050 Biscayne Blvd in the Edgewater market of Miami. The property, owned by Crescent Heights, spans 11,000 square feet and is being leased at an asking rent of $45 per square foot. The lease transaction was facilitated by Marber Arellano from LoKation®️ Real Estate.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Lease
- Address: 3050 Biscayne Blvd
- Market: Edgewater, Miami
Marber Arellano from LoKation®️ Real Estate played a pivotal role as the broker representing The Maercks Institute in this lease transaction. The deal reflects the growing demand for office spaces in the Edgewater market, as evidenced by the competitive asking rent of $45 per square foot.
Players
Miami Office Market Snapshot
Boundary boundary · Office · Lease transactions
Loading comparables…
Deal FAQ
Browse Florida office leases on Traded.
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