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12500 SW 88th St, Miami, FL...

Lucky's Market Leases 23000 Square Feet At 12500 SW 88th St Miami With Sterling Organization
LEASEDRetail

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:

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

Aaron Labovitz

ABL Real Estate Partners

Broker

$66.9M

vol

9 deals

Broker
Sterling Organization
Sterling OrganizationLandlord

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