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201 S Biscayne Blvd

Cactus Club Cafe Signs 10,000-Square-Foot Lease At Downtown Miami's Citigroup Center
LEASEDRetail

Cactus Club Cafe Signs 10,000-Square-Foot Lease At Downtown Miami's Citigroup Center

201 S Biscayne Blvd

Building Size

10,000 SF

Asset Type

Retail

Closing

Oct 18, 2023

AI

Canadian restaurant chain Cactus Club Cafe has signed a lease for its first U.S. location in Downtown Miami's Citigroup Center. The 10,000-square-foot space, located at 201 S Biscayne Boulevard, will mark the restaurant's entry into the American market. Cactus Club Cafe is known for its global fusion cuisine, offering a unique dining experience to customers.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 10,000
  • Address: 201 S Biscayne Boulevard
  • Market: Miami

The lease deal was facilitated by a collaboration between several key individuals and companies. The landlords for the space are CP Group, represented by Angelo Bianco, and Monarch Alternative Capital, represented by Michael A. Weinstock. On the landlord's side, the deal was overseen by Lyle Stern and Sara Wolfe from Vertical Real Estate. Cactus Club Cafe was represented by Emily Green and Taryn Brandes from Brand Urban, as well as Michael Sullivan and Sam Singer from Vertical Real Estate. This team worked together to ensure a successful lease agreement for the restaurant chain's expansion into the American market.

Players

Sara Wolfe

Vertical Real Estate

Broker

3 deals

Broker

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