Ameriworld Fulfillment Center Signs 10-Year Lease For 124,000-SF Office Space At 3325 NW 70th Ave, Miami
3325 Northwest 70th Avenue
Building Size
124,000 SF
Asset Type
Office
Closing
Dec 18, 2023
AI
The Ameriworld Fulfillment Center has obtained a 10-year lease for their 124,000-square-foot office facility located at 3325 Northwest 70th Avenue in Miami's Airport West. The lease was brokered by Mike Waite from Easton & Associates, with a total value of $25.17 million. The decision to secure a long-term lease was driven by the frothy industrial market and anticipated rent increases.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $25.17 million
- Square Footage: 124,000
- Address: 3325 Northwest 70th Avenue, Miami
- Tenant: Ameriworld Fulfillment Center
- Tenant Representative: Julian Rubio
- Broker: Mike Waite - Easton & Associates - The Easton Group
Mike Waite, the Vice President at Easton & Associates, represented Ameriworld Fulfillment Center in this lease transaction. The decision to secure a long-term lease was driven by the frothy industrial market and anticipated rent increases. By partnering with Easton & Associates, Ameriworld Fulfillment Center successfully negotiated a ten-year lease for their office facility.
Players
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