Citibank, N.A. Leases Office Space At Doral Center For $72.00 Per Sq.Ft
8750 Northwest 36th Street
$72
$72/SF
Building Size
11,005 SF
Asset Type
Office
Closing
Jun 10, 2024
AI
The office property located at Doral Center, 8750 NW 36th Street in Doral, was involved in a lease transaction between Banyan Street Capital & Independencia Asset Management as the landlords and Citibank, N.A. as the tenant. The property boasts an asking rent of $72.00 per square foot for a total space of 11,005 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not Applicable
- Address: 8750 NW 36th Street, Doral
- Market: Doral
- Landlord: Banyan Street Capital & Independencia Asset Management
- Tenant: Citibank, N.A.
- Landlord's Rep: Gordon Messinger & Randy Carballo - CBRE
- Asking Rent: $72.00/ft.
- Square Footage: 11,005
Randy Carballo and Gordon Messinger from CBRE served as the landlord's representatives in this lease deal, facilitating the agreement between Banyan Street Capital & Independencia Asset Management as the landlords and Citibank, N.A. as the tenant. This lease transaction highlights the collaborative effort among the key individuals and companies involved in the negotiation.
Players
Doral 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
220319.44%
Cash-on-Cash
-62967.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93