Miramar's Manor Development Signs Retail Tenants Sweat440, Crema Gourmet Espresso Bar, And The Spot Barbershop
1 Main Street Miramar, Florida 33025, Usa
Building Size
7,400 SF
Asset Type
Retail
Closing
Jul 27, 2023
AI
The Manor Miramar mixed-use development in Miramar, Florida, has signed its first retail tenants, marking an important milestone for the project. The retail space, which spans over 20,000 square feet, will house a fitness center, a coffee shop, and a barbershop. Located at 1 Main Street, the development also includes a 393-unit apartment complex. The anticipated opening of this vibrant retail destination is set for later this year.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 1 Main Street, Miramar, Florida
- Market: Miramar
- Square Footage: 20,000
- Landlord: Related Group
- Tenant: Sweat440, Crema Gourmet Espresso Bar & The Spot Barbershop
- Landlord's Representative: Jonathan Rosen (JLL)
- Tenant's Representatives: Josh Reich (Real Property Management Miami), Angel Sanchez (Curated Firm), Alex Espinola (IMA Real Estate)
This exciting development has attracted a diverse range of retail tenants. Sweat440, a fitness center, will offer a wide array of workout options to residents and visitors of the Manor Miramar. Crema Gourmet Espresso Bar will provide a cozy and inviting atmosphere for coffee enthusiasts to enjoy their favorite beverage. The Spot Barbershop will offer high-quality grooming services, catering to the grooming needs of the community. The Manor Miramar is set to become a vibrant hub where residents and visitors can access a variety of amenities and services.
Players
Cambridge Retail Market Snapshot
Boundary boundary · Retail · 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