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3750 NW 87th Ave, Doral, FL...

Quest Workspaces Leases Office Space In Doral From Banyan Street Capital & Independencia Asset Management
LEASEDOffice

Quest Workspaces Leases Office Space In Doral From Banyan Street Capital & Independencia Asset Management

3750 NW 87th Ave, Doral, FL 33178, USA

Building Size

23,454 SF

Asset Type

Office

Closing

Nov 30, 2022

AI

A lease transaction has taken place at 3750 NW 87th Avenue in Doral. The office property has been leased by Quest Workspaces. The property spans 23,454 square feet and the asking rent was $38.50 per square foot.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not Applicable (Lease)
  • Address: 3750 NW 87th Avenue, Doral
  • Tenant: Quest Workspaces
  • Asking Rent: $38.50/ft.

The landlords involved in this lease transaction are Banyan Street Capital and Independencia Asset Management. They were represented by CBRE brokers Gordon Messinger and Randy Carballo. On the tenant side, Quest Workspaces was represented by Lance Benson from Newmark.

This lease transaction highlights the collaborative efforts between the landlords, Banyan Street Capital and Independencia Asset Management, and the tenant, Quest Workspaces. The negotiation process was facilitated by CBRE's brokers, Gordon Messinger and Randy Carballo, representing the landlords, and Lance Benson from Newmark, representing the tenant.

Players

Banyan Street Capital
Banyan Street CapitalLandlord
QW
Quest WorkspacesTenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93