@GLOSSLAB Signs Lease For New Location At CocoWalk In Coconut Grove
3015 Grand Avenue, Miami, Coconut Grove, FL 33133, USA
Building Size
12,300 SF
Asset Type
Retail
Closing
Aug 1, 2020
AI
Located at 3015 Grand Avenue in Coconut Grove, the retail property at CocoWalk has seen a new tenant - @GLOSSLAB, a membership-based nail studio operator. This marks @GLOSSLAB's 9th location in the U.S. and their first in Miami. The opening of their Miami location at CocoWalk was made possible through a lease agreement.
Summary of transaction details
- Property Type: Retail
- Tenant: @GLOSSLAB
- Tenant Representative: Lyle Stern & Robin Weiner - Koniver Stern
- Landlord Representative: Irma Figueroa - Senior Director of Real Estate @ComrasCompany
- Address: 3015 Grand Avenue
- Market: Coconut Grove
This lease agreement was facilitated by the tenant representatives, Lyle Stern and Robin Weiner of Koniver Stern, and the landlord representative, Irma Figueroa, who is the Senior Director of Real Estate at Comras Company.
@GLOSSLAB has raised $7 million thus far, with investments from various individuals and entities including @DaveGrutman, @LiveNation, Keke Palmer, @AlexPall, @DrewTaggart, @Mark_Sanchez, Amar’e Stoudemire, @PatrickSchwarzenegger, Elias Davis, and @JaredGoff.
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