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545 Northwest 26th Street, ...

NEOCIS Acquires Office Space In Wynwood For $55/RSF NNN
LEASEDOffice

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

Cameron Tallon

CBRE

Broker

8 deals

Broker
Sterling Bay
Sterling BayBrokerage
CBRE
CBREBrokerage
Sterling Bay
Sterling BayLandlord

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