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
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