Tricera Capital And LNDMRK Development Lease Retail Space In Society Wynwood Development With Starbucks, Chama De Fogo Brazilian Steakhouse, And Nacho Daddy
2431 Northwest 2nd Avenue Miami, Florida 33127, USA
Building Size
13,571 SF
Asset Type
Retail
Closing
Aug 12, 2023
AI
Miami's Tricera Capital and LNDMRK Development have finalized leases for nearly 14,000 square feet at Society Wynwood mixed-use development located at 2431 Northwest 2nd Avenue in Miami. The project is situated in the Wynwood Art District and offers a mix of retail, residential units, and private parking. The retail space, spanning a total of 13,571 square feet, will be occupied by Starbucks, Chama De Fogo Brazilian Steakhouse, and Nacho Daddy, enhancing the real estate landscape in the area.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Square Footage: 13,571
- Address: 2431 Northwest 2nd Avenue, Miami
- Market: Miami
The lease agreements were facilitated by various representatives involved in the deal. Tricera Capital and LNDMRK Development served as the landlords, while Starbuck, Chama De Fogo Brazilian Steakhouse, and Nacho Daddy were the tenants. The landlord's representatives included Irma Figueroa, Andrew Rosenberg, and Max Gelband from Comras Company. On the tenant's side, the deal was negotiated by Elizabeth Higgins, Marty Arrivo, and Aracibo Quintana from Acre, Elizabeth Hazan from Byblos Hospitality Holdings, and Jenny Geffen and Dave Preston from Colliers.
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