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95 Northwest 29th Street

Amazon Leases 50300 Sq. Ft. Office Space In Miami's Wynwood Neighborhood With Tenant's Rep Savills
LEASEDOffice

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:

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

Andrew Trench

Cushman & Wakefield

Broker

$299M

vol

15 deals

Broker

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