Nuveen Real Estate Leases 24,000 SF Office Space At 701 Brickell To Apollo Global Management
701 Brickell Avenue, Miami, FL, USA
Building Size
24,000 SF
Asset Type
Office
Closing
Nov 22, 2021
AI
An office property located at 701 Brickell in Miami has been leased. The lease was finalized on November 22, 2021. The asset spans a total size of 24,000 square feet. The landlord for this property is Nuveen Real Estate, while the tenant is Apollo Global Management, specifically Marc Rowan. The lease term for this transaction is 10 years.
Summary of transaction details
- Property Type: Office
- Transaction Date: 11/22/2021
- Address: 701 Brickell, Miami
- Tenant: Apollo Global Management - Marc Rowan
- Tenant's Representative: Neil Goldmacher & Mitchell Millowitz - Newmark
- Landlord: Nuveen Real Estate
- Landlord's Representatives: Brian Gale, Ryan Holtzman & Andrew Trench - Cushman & Wakefield
- Asking Rent: $80/ft.
- Lease Terms: 10-year lease
The deal involved multiple representatives from different companies. Brian Gale, Ryan Holtzman, and Andrew Trench from Cushman & Wakefield acted as the landlord's representatives, while Neil Goldmacher and Mitchell Millowitz represented the tenant, Apollo Global Management - Marc Rowan. Together, they facilitated the successful lease agreement for the office space at 701 Brickell in Miami.
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