Sixty Vines To Open New Location In Miami Worldcenter's Retail Space
150 Northwest 8th Street Miami, Florida 33132, USA
Building Size
8,672 SF
Asset Type
Retail
Closing
Aug 31, 2023
About this deal
AI
Sixty Vines, a restaurant chain known for its wine selection and sustainable practices, is set to open a new location in Miami Worldcenter. The new retail space will be located at 150 NE 8th Street, Suite F-135 and will span across 8,672 square feet. The property includes outdoor patio seating that overlooks the development's World Square public plaza.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 150 NE 8th Street, Suite F-135
- Market: Miami
- Landlord: Miami Worldcenter Associates - Art Falcone & Nitin Motwani; CIM Group - Shaul Kuba
- Tenant: Sixty Vines
The deal involves Sixty Vines leasing the retail space in Miami Worldcenter. The landlord, Miami Worldcenter Associates, consists of Art Falcone and Nitin Motwani, while Shaul Kuba represents the CIM Group. Sixty Vines is known for its focus on sustainability and wide variety of wine offerings, making it an exciting addition to the Miami Worldcenter development.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Deal FAQ
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