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1010 Brickell Avenue, Miami...

Updated Oct 28, 2024

Red Phone Booth Leases Retail Space At 1010 Brickell Avenue, Suite 400/500 In Brickell - Miami
LEASEDRetail

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.

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Players

Jonathan Rosen

Colliers

Broker

$2.6M

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Miami Retail Market Snapshot

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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

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