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8750 Northwest 36th Street

Citibank, N.A. Leases Office Space At Doral Center For $72.00 Per Sq.Ft
LEASEDOffice

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

Gordon Messinger

CBRE

Broker

$164M

vol

33 deals

Broker

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