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
About this deal
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.
On the Map
Office
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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