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44 W Flagler St, Miami, FL,...

Updated Sep 9, 2024

Liebler, Gonzalez & Portuondo Renews Lease At Courthouse Tower, Miami
LEASEDOffice

Liebler, Gonzalez & Portuondo Renews Lease At Courthouse Tower, Miami

44 W Flagler St, Miami, FL, 33130

Building Size

14,875 SF

Asset Type

Office

Closing

Jul 20, 2017

About this deal

AI

The property involved in the lease transaction is Courthouse Tower, a 162,510-square-foot office tower located at 44 W Flagler St, Miami, FL, 33130. The asset is currently undergoing a $5 million capital improvement program that includes upgrades to the building’s facade, signage, lobby, corridors, elevator lobbies, and amenity spaces. Courthouse Tower features a conference room, fitness center, storage, and a Sabadell Bank branch and ATM.

Summary of transaction details:

Cushman & Wakefield facilitated a long-term lease renewal between Liebler, Gonzalez & Portuondo and Courthouse Tower. The law firm will continue to occupy a space on the building’s 24th and 25th floors after the negotiation. The deal showcases the commitment of key industry professionals such as Ryan Levy, Tony Jones, and Tere Blanca in ensuring a successful lease renewal for the law firm.

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Players

Tere Blanca

Blanca Commercial Real Estate

Broker

$111.4M

vol

21 deals

Broker
BA
Brickman AssociatesLandlord
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Miami Office Market Snapshot

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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

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