MIAX Signs Lease For 38,409-Square-Foot Office Space In Miami's Wynwood Area
545 Northwest 26th Street
Building Size
38,409 SF
Asset Type
Office
Closing
Nov 6, 2023
About this deal
AI
Sterling Bay Properties has leased a 38,409-square-foot office space in the 545wyn office building located at 545 Northwest 26th Street in Wynwood, Miami. The lease agreement was signed with MIAX (Miami International Holdings), a securities exchange firm. The new office is expected to open in the second half of 2024 and will include a trading floor for MIAX Sapphire.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not available
- Address: 545 Northwest 26th Street
- Market: Miami
- Tenant: MIAX (Miami International Holdings) - Thomas P. Gallagher
- Landlord: Sterling Bay Properties - Andy Gloor
MIAX, represented by Thomas P. Gallagher, has secured a lease for the office space in the 545wyn office building. This lease will add to MIAX's existing Miami office and is expected to provide a trading floor for MIAX Sapphire. The new office is set to open in the second half of 2024 and will support MIAX's business operations.
Players
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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