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701 Brickell Ave Miami, FL ...

Holland & Knight Renews Lease At 701 Brickell Avenue In Miami
LEASEDOffice

Holland & Knight Renews Lease At 701 Brickell Avenue In Miami

701 Brickell Ave Miami, FL 33131, USA

$110

$110/SF

Building Size

121,032 SF

Asset Type

Office

Closing

Jun 21, 2023

AI

Holland & Knight has renewed its lease at 701 Brickell Avenue in Miami, marking the law firm's continued presence at this location since 1992. The office space, totaling 121,032 square feet, is situated in the bustling Brickell market, which attracts both established firms and new financial giants. The property is owned by Nuveen Real Estate.

Summary of transaction details

The lease renewal agreement was facilitated by CBRE's Todd Lippman and Shay Pope, who represented Holland & Knight in the transaction. On the other side, Cushman & Wakefield's Brian Gale and Edward Quinon acted as the representatives for Nuveen Real Estate, the property's landlord. While no additional financial details were disclosed, the agreement underscores the appeal of the Brickell market and its ability to retain prestigious tenants.

Players

Brian Gale

Cushman & Wakefield

Broker

$389M

vol

16 deals

Broker
Nuveen
NuveenLender
Nuveen
NuveenLandlord

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

144209.09%

Cash-on-Cash

-41215.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93