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66 Southwest 6th Street, Mi...

Papa, Inc. Signs NNN Lease At 66 Southwest 6th Street In Miami
LEASEDOffice

Papa, Inc. Signs NNN Lease At 66 Southwest 6th Street In Miami

66 Southwest 6th Street, Miami, FL, USA

Building Size

11,420 SF

Asset Type

Office

Closing

Nov 18, 2020

AI

An office property located at 66 Southwest 6th Street in Miami has recently been involved in a closed NNN lease transaction. The deal was finalized on November 19, 2020.

Summary of transaction details

  • Property Type: Office
  • Transaction Date: 11/19/2020
  • Address: 66 Southwest 6th Street
  • Market: Miami
  • Asking Rent: $39/ft
  • Square Footage: 11,420 SF

The tenant involved in this lease transaction is Papa, Inc., while the landlord is Benzol Properties Corp. Representing the tenant on this deal were Jeff Gordon and Matthew Goodman from JLL. Tony Arellano from DWNTWN Realty Advisors acted as the landlord's representative.

Players

Jeffrey Gordon

CBRE

Broker

8 deals

Broker
Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

153 deals

Broker
JLL
JLLBrokerage

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