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545 Northwest 26th Street

MIAX Signs Lease For 38,409-Square-Foot Office Space In Miami's Wynwood Area
LEASEDOffice

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

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

Andy Gloor

Sterling Bay

Landlord

$993.9M

vol

16 deals

Landlord

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