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
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:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Landlord: Florida East Coast Realty
- Tenant: Wilder Zapata - Action Black
- Landlord's Rep: Ana Paula, Kevin Gonzalez & Jake Freeman - Colliers
- Tenant's Rep: Jonathan Rosen - JLL
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.
Players
Miami 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