Greenberg Traurig Renews 128,450 SF Office Lease At Wells Fargo Center In Miami
333 Avenue of the Americas Miami, Florida 33131, USA
Building Size
128,450 SF
Asset Type
Office
Closing
Sep 6, 2023
AI
Cushman & Wakefield has facilitated a substantial 128,450-square-foot office lease renewal at Wells Fargo Center in downtown Miami. The landlord, MetLife Inc, is a MetLife affiliate. The tenant, global law firm Greenberg Traurig, has renewed its lease for five floors, making it Miami's largest office lease in the past five years.
Summary of transaction details
- Property Type: Office
- Transaction Amount: N/A
- Square Feet: 128,450
- Address: 333 Avenue of the Americas, Miami
- Market: Miami
The landlord's representatives for this deal were Brian Gale, Ryan Holtzman, Andrew Trench, and Edward Quinon from Cushman & Wakefield. They successfully negotiated the lease renewal on behalf of the landlord, a MetLife affiliate. The tenant's representatives were Michael Shuler, Jeremy Hakala, and Clay Sidner from Newmark.
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