facebook

traded

+ Submit
Home

/

Deals

/

Florida

/

Office

/

Lease

/

333 Avenue of the Americas ...

Greenberg Traurig Renews 128,450 SF Office Lease At Wells Fargo Center In Miami
LEASEDOffice

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

Brian Gale

Cushman & Wakefield

Broker

$389M

vol

16 deals

Broker
MI
MetLife IncLandlord
GT
Greenberg TraurigTenant

Miami Office Market Snapshot

Boundary boundary · Office · Lease transactions

Loading comparables…

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