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315 South Biscayne Boulevar...

Polsinelli Leases Office Space In Miami's South Biscayne Boulevard From BEA Equities
LEASEDOffice

Polsinelli Leases Office Space In Miami's South Biscayne Boulevard From BEA Equities

315 South Biscayne Boulevard, Miami, FL 33131

Building Size

23,617 SF

Asset Type

Office

Closing

Aug 31, 2021

AI

A lease transaction has taken place for an office space located at 315 South Biscayne Boulevard in Miami. The tenant, Polsinelli, has entered into a 10-year lease agreement with the landlord, BEA Equities. The lease was facilitated by CBRE representatives Kevin Gonzalez, Maggie Kurtz, and Jake Freeman, who acted as the tenant's representatives. The landlord was represented by Daniel Durkin from Cresa.

Summary of transaction details

  • Property Type: Office
  • Asking Rent: $45/ft.
  • Square Footage: 23,617 SF
  • Transaction Date: 08/31/2021

The lease agreement involves a total of 23,617 square feet of office space. Polsinelli has committed to a 10-year lease term at an asking rent of $45 per square foot.

Players

Kevin Gonzalez

Colliers

Broker

16 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