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1100 Brickell Bay Drive

Updated Dec 4, 2024

Wilder Zapata's Action Black Secures Lease At 1100 Brickell Bay Drive, Miami
LEASEDRetail

Wilder Zapata's Action Black Secures Lease At 1100 Brickell Bay Drive, Miami

1100 Brickell Bay Drive

Building Size

8,501 SF

Asset Type

Retail

Closing

Jun 7, 2024

About this deal

AI

The retail property located at 1100 Brickell Bay Drive in Miami, spanning 8,501 square feet, was leased for a 10-year term. The landlord, Florida East Coast Realty, secured Wilder Zapata's fitness concept, Action Black, as the tenant for this space in Brickell’s Panorama Tower.

Summary of transaction details:

Action Black, a fitness concept from Medellín, Colombia, is expanding globally with Miami being its next destination. Offering various fitness activities like boxing, bootcamp workouts, cycling, yoga, and dance, the gym is scheduled to open in the first half of 2025 with plans for 150 clubs worldwide, including the U.S. and Spain.

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Players

Kevin Gonzalez

Colliers

Broker

18 deals

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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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