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
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:
- Property Type: Office
- Transaction Amount: Not Applicable
- Tenant: Liebler, Gonzalez & Portuondo
- Landlord: Brickman
- Square Feet: 14,875
- Tenant's Reps: Ryan Levy (Cushman & Wakefield), Tony Jones (Cushman & Wakefield)
- Landlord's Rep: Tere Blanca (Blanca Commercial Real Estate)
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.
Players
Miami 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