Wes Powell Of AIMCO Leases 11,500 Square Feet To Gioia Hospitality Group In Miami
560 Northeast 34th Street
Building Size
11,500 SF
Asset Type
Retail
Closing
Jul 7, 2026
AI
The property involved in this lease transaction is a retail asset located at 560 Northeast 34th Street, Miami, FL. The total square footage of the leased space is 11,500. The property is situated in a developing market area, specifically targeting the waterfront for a steak and seafood restaurant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Lease Size: 11,500 square feet
- Address: 560 Northeast 34th Street
- Market: Miami, FL
- Landlord: Wes Powell - AIMCO
- Tenant: Thomas Angelo & Kassidy Angelo - Gioia Hospitality Group
- Agents: Michael Silverman & Jeff Evans - The Comras Company
- Lease Timeline: Concept expected to open in late 2027 or early 2028
Michael Silverman and Jeff Evans from The Comras Company represented the landlord, AIMCO, in this lease transaction. The tenant, Gioia Hospitality Group, is led by Thomas Angelo and Kassidy Angelo, who are initiating a waterfront dining experience at the location.
Players
North East 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