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830 Brickell Avenue

French-Inspired Cafe Maman Signs 10-Year Lease For Brickell Avenue Retail Space At 830 Brickell
LEASEDRetail

French-Inspired Cafe Maman Signs 10-Year Lease For Brickell Avenue Retail Space At 830 Brickell

830 Brickell Avenue

Building Size

2,590 SF

Asset Type

Retail

Closing

Dec 1, 2023

AI

The French-inspired cafe Maman from New York has signed a 10-year lease for a 2,590-square-foot space in the ground floor of 830 Brickell Avenue, Miami's first standalone office project in decades. The 55-story tower is fully leased for its office component, with Maman set to open in Q4 2023, marking its fourth location in South Florida.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not available
  • Square Footage: 2,590
  • Address: 830 Brickell Avenue
  • Market: Miami

The landlord of the property is Oko Group, represented by Vlad Doronin, and Cain International, represented by Jonathan Goldstein. Maman, represented by Elisa Marshall and Benjamin Sormonte, is the tenant. The landlord's representatives are Aaron Butler and Daniel Cardenas from Avenue Real Estate, while the tenant's representatives are Emily Green and Taryn Brandes from Brand Urban, and Michael Sullivan from Vertical Real Estate.

Players

Aaron Butler
Verified Badge

Aaron Butler

Avenue Real Estate Partners

Broker

$52.4M

vol

9 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