State Of Florida Department Of Revenue Leases Office Space In Doral
3750 Northwest 87th Avenue
$36
$36/SF
Building Size
29,000 SF
Asset Type
Office
Closing
Aug 17, 2022
AI
The leased property at 3750 NW 87th Ave in Doral has been acquired by Banyan Street Capital and Independencia Asset Management. This office space transaction involves the State of Florida Department of Revenue as the tenant. The leasing arrangement was facilitated by Gordon Messinger from CBRE. The property spans a total square footage of 29,000 and was leased at an asking rent of $36.50 per square foot on a gross basis.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not provided
- Market: Doral
- Landlord: Banyan Street Capital & Independencia Asset Management
- Tenant: State of Florida Department of Revenue
- Broker: Gordon Messinger - CBRE
- Asking Rent: $36.50/ft. Gross
- Square Footage: 29,000
This lease deal brings together key players in the real estate industry. Banyan Street Capital and Independencia Asset Management took on the role of landlords, while the State of Florida Department of Revenue became the tenant. Acting as the representative for the tenant, Gordon Messinger, from CBRE, facilitated the leasing agreement. This transaction highlights the demand for office space in the Doral market.
Players
Doral 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
440638.89%
Cash-on-Cash
-125935.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93