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Regus Signs 10& Year Lease For 45789 SF Office At 429 Lenox Avenue Miami Beach

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LEASED
Stephen Rutchik
Adam Bernstein
Ana Paula

Florida

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Office45,789 SF
Leased 12/10/2024
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Property Image
LEASED

Regus Signs 10& Year Lease For 45789 SF Office At 429 Lenox Avenue Miami Beach

429 Lenox Avenue

See Similar Deals
Office45,789 SF
Leased 12/10/2024
Stephen Rutchik
Adam Bernstein
Ana Paula
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$0
Total Square Footage:45,789 SF
Transaction Type:Lease

The office asset at 429 Lenox Avenue spans 45,789 square feet and is located in the Miami Beach market. Regus has signed a lease for this property, which includes replacing WeWork, following its bankruptcy filing.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 429 Lenox Avenue
  • Market: Miami Beach
  • Lease Term: 10+ years
  • Landlord: Juan Jose Zaragoza, Fernando Perez-Hickman & Ignacio Gil Casares - Azora Exan
  • Tenant: Mark Dixon - Regus
  • Landlord's Representative: Ana Paula & Stephen Rutchik - Colliers
  • Tenant's Representative: Adam Bernstein - JLL

The transaction marks Regus's 26th location in Miami-Dade County. The leasing process was managed by JLL for Regus and Colliers for Azora Exan, with the new space expected to open in the next quarter.

Players

Adam Bernstein
JLL
Adam Bernstein
7 deals
BROKER
Stephen Rutchik
Colliers
Stephen Rutchik
25 deals
BROKER
Ana Paula
Colliers
Ana Paula
7 deals(305) 297-4684
BROKER

Details

LEASED
IMAGE: Stephen Rutchik, Ana Paula, Juan Jose Zaragoza, Mark Dixon, Fernando Perez-Hickman, Adam Bernstein & Ignacio Gil Casares DATE: 12/10/2024 ADDRESS: 429 Lenox Avenue MARKET: Miami Beach ASSET TYPE: Office ~ SF: 45,789 LANDLORD: Juan Jose Zaragoza, Fernando Perez-Hickman & Ignacio Gil Casares - Azora Exan TENANT: Mark Dixon - Regus (@regusglobal) LANDLORD'S REP: Ana Paula & Stephen Rutchik - Colliers (@ColliersInternational) TENANT'S REP: Adam Bernstein - JLL (@JLL) LEASE TERM: 10+ year NOTE: Regus, a co-working brand under the International Workplace Group, signed a 10+ year lease for the 45,789 SF building at 429 Lenox Avenue in Miami Beach, replacing WeWork, which vacated after filing for bankruptcy. The lease, brokered by JLL for Regus and Colliers for Azora Exan, marks the brand's 26th Miami-Dade location. The space is set to open next quarter.

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Deal Type
Effective Rent (Annual)

$2,624,597.85

Total Lease Value

$26,245,978.49

Net Landlord Cash Flow$2,624,597.85