Joe Echevarria Of UHealth Leases 11243 Square Feet At 8375 Northwest 53rd Terrace In Miami
Northwest 53rd Terrace
Building Size
11,243 SF
Asset Type
Retail
Closing
Jan 24, 2025
AI
The property is 11,243 square feet located at 8375 Northwest 53rd Terrace in the Miami market. This retail asset is part of a larger 25,000-square-foot retail expansion by Codina Partners.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Ana-Marie Codina & Armando Codina - Codina Partners
- Tenant: Joe Echevarria - UHealth
- New Facility: Bascom Palmer Eye Institute and physical therapy services
- Additional Tenants: Sweat 440 and Pura Vida
- Groundbreaking Date: Q1 2025
Joe Echevarria represents UHealth in the leasing of the property, while Ana-Marie Codina and Armando Codina represent Codina Partners as the landlords. This collaboration marks a significant addition to the retail offerings in Downtown Doral.
Players
Miami Springs 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