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3325 Northwest 70th Avenue

Ameriworld Fulfillment Center Signs 10-Year Lease For 124,000-SF Office Space At 3325 NW 70th Ave, Miami
LEASEDOffice

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

Michael Waite

The Easton Group

Broker

$5.3M

vol

6 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