NEOCIS Acquires Office Space In Wynwood For $55/RSF NNN
545 Northwest 26th Street, Miami, Florida 33127, United States
Building Size
38,409 SF
Asset Type
Office
Closing
Feb 28, 2022
AI
An office space located at 545 NW 26th St in Wynwood has been leased. The property, with a size of 38,409 square feet, was leased by NEOCIS. The landlord, Sterling Bay, was represented by Randy Carballo and Juan Ruiz of Blanca Commercial Real Estate. The tenant, NEOCIS, was represented by Cameron Tallon of JLL. The asking rent for the lease was $55 per square foot NNN.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Market: Wynwood
- Landlord: Sterling Bay
- Tenant: NEOCIS
The lease transaction for the office space at 545 NW 26th St in Wynwood was facilitated by Randy Carballo and Juan Ruiz of Blanca Commercial Real Estate representing the landlord, Sterling Bay. Cameron Tallon of JLL represented the tenant, NEOCIS.
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