CP Group Leases Nearly 30,000 Square Feet To Multiple Tenants At The Landing At MIA
Building Size
28,587 SF
Asset Type
Office
Closing
Nov 13, 2024
AI
The property asset involved in the transaction is an office space located at 7415 Corporate Center Drive in Miami. The total square footage of the asset is 28,587. The property is part of The Landing at MIA, a comprehensive office campus comprising 1.1 million square feet with immediate access to Miami International Airport.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 7415 Corporate Center Drive
- Market: Miami
- Landlord: Angelo Bianco - CP Group
- Tenant: Butler, Buckley, Deets Inc.; CVS Health; Trane Inc.; Harding Retail; Patagonia Sea Farms; Nomi Health; The Ashvins Group; FleetMasters
- Broker: Gordon Messinger & Randy Carballo - CBRE
CP Group, recognized as Florida’s largest office landlord, successfully secured nearly 30,000 square feet in leasing agreements through this transaction. CBRE's Gordon Messinger and Randy Carballo played a pivotal role in facilitating all eight transactions, which included both new leases and a renewal, highlighting a collective effort in the deal.
Players
Market 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