Red Phone Booth Leases Retail Space At 1010 Brickell Avenue, Suite 400/500 In Brickell - Miami
1010 Brickell Avenue, Miami, FL 33131, USA
Building Size
5,000 SF
Asset Type
Retail
Closing
Oct 15, 2021
About this deal
AI
Red Phone Booth has agreed to lease a retail space at 1010 Brickell Avenue, Suite 400/500 in the Brickell - Miami market. The retail space, measuring approximately 5,000 square feet, is owned by Mattoni Group. The lease transaction was facilitated by Jonathan Rosen of Colliers, representing Red Phone Booth, and Rafael Romero and Katie Fernandez Espinosa of JLL, representing Mattoni Group. The lease was signed on October 15, 2021, with an asking rent of $65 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: October 15, 2021
- Address: 1010 Brickell Avenue, Suite 400/500
- Market: Brickell - Miami
- Tenant: Red Phone Booth
- Landlord: Mattoni Group
- Tenant's Representative: Jonathan Rosen - Colliers
- Landlord's Representatives: Rafael Romero & Katie Fernandez Espinosa - JLL
- Asking Rent: $65 per square foot
- Square Footage: 5,000
The deal involved Red Phone Booth, a tenant looking for a retail space in the Brickell - Miami market. The tenant was represented by Jonathan Rosen of Colliers, while the landlord, Mattoni Group, was represented by Rafael Romero and Katie Fernandez Espinosa of JLL. The lease agreement was successfully negotiated, with the asking rent set at $65 per square foot for the 5,000 square foot space.
Players
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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