Franklin Street Properties Corp. Leases Office Space To Unique Vacations, Inc. At 5505 Blue Lagoon Drive, Miami
5505 Blue Lagoon Drive, Miami, Florida 33126, United States
Building Size
53,120 SF
Asset Type
Office
Closing
Mar 1, 2022
About this deal
AI
Unique Vacations, Inc. has signed a lease agreement for office space at 5505 Blue Lagoon Drive in Miami. The property, owned by Franklin Street Properties Corp., offers a total area of 53,120 square feet. Gordon Messinger from CBRE represented Unique Vacations, Inc. as their broker in this transaction.
Summary of transaction details:
- Property Type: Office
- Transaction Date: 03/02/2022
- Address: 5505 Blue Lagoon Drive, Miami
- Landlord: Franklin Street Properties Corp.
- Tenant: Unique Vacations, Inc.
- Broker: Gordon Messinger - CBRE
- Asking Rent: $40/ft.
- Total Square Footage: 53,120
Gordon Messinger, from CBRE, represented Unique Vacations, Inc. as their broker in this lease agreement. This transaction signifies the successful collaboration between Unique Vacations, Inc. and Franklin Street Properties Corp., resulting in Unique Vacations, Inc. securing office space at 5505 Blue Lagoon Drive in Miami.
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