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
About this deal
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.
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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