Amazon Leases 50300 Sq. Ft. Office Space In Miami's Wynwood Neighborhood With Tenant's Rep Savills
95 Northwest 29th Street
Building Size
50,300 SF
Asset Type
Office
Closing
Jan 27, 2025
AI
The property asset involved in this transaction is an office space located at 95 Northwest 29th Street within the Miami market. The leased space encompasses 50,300 square feet and is part of Wynwood Plaza, a mixed-use development project that will include offices, luxury apartments, retail, and a public plaza upon completion. The landlords involved in this lease transaction are David Weitz and Erik Rutter from Oak Row Equities, David Levinson and Robert Lapidus from L&L Holding, Brandon Shorenstein from Shorenstein, and Marcelo Claure from Claure Group.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 95 Northwest 29th Street
- Market: Miami
- Landlords: David Weitz & Erik Rutter - Oak Row Equities, David Levinson & Robert Lapidus - L&L Holding, Brandon Shorenstein - Shorenstein, Marcelo Claure - Claure Group
- Tenant: Jeff Bezos & Andy Jassy - Amazon
- Landlord's Representatives: Andrew Trench & Edward Quinon - Cushman & Wakefield, Bryan Lapidus - L&L Holding Company
- Tenant's Representatives: Mike Catalano & Thomas Capocefalo - Savills
Key individuals involved in this lease deal include Amazon representatives Jeff Bezos and Andy Jassy, who are significant figures in the tech industry. The transaction is marked as the largest office lease in Miami’s Wynwood neighborhood, further establishing the area as a hub for companies focusing on technology, finance, and related sectors. The development is a collaboration among multiple companies, ensuring a comprehensive mixed-use project that aims to enhance the local business landscape.
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