Lucky's Market Leases 23000 Square Feet At 12500 SW 88th St Miami With Sterling Organization
12500 SW 88th St, Miami, FL, 33186
Building Size
23,000 SF
Asset Type
Retail
Closing
Oct 17, 2018
AI
A 23,000-square-foot lease was executed for a grocery store retailer at the Shops of Kendall located at 12500 Southwest 88th Street in Miami, FL 33186. The market for this property is Miami.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 12500 SW 88th St, Miami, FL, 33186
- Tenant: Lucky’s Market
- Landlord: Sterling Organization
- Tenant's Representative: Aaron Labovitz (ABL Real Estate Partners)
- Landlord's Representative: Adrian Jimenez (Sterling Organization)
- Square Feet: 23,000
This transaction highlights the involvement of Lucky’s Market as the tenant, which is expected to open in spring 2019. The landlord, Sterling Organization, is represented by Adrian Jimenez, while Aaron Labovitz from ABL Real Estate Partners represents the tenant.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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