The tenants will occupy a combined 7,400 square feet at the soon-to-be-completed mixed-use development.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
The tenant is doubling its office space, adding a second floor to its previous lease at the mixed-use development, bringing the company’s total footprint to about 37,000 square feet.
Designed to provide a single-family home experience, the residences range from 3,300 to nearly 13,000 square feet and offer in-unit elevator access and a private parking garage with each unit.
The newly formed partnership is moving forward on highly anticipated mixed-use development
The project will feature 304 apartments, more than 18,000 square feet of retail, and 63,000 square feet of office space.
This transaction underscores a paradigm shift in rates and market fundamentals and sets a new bar for the Miami office market.
The project is expected to cost over $500 million to develop.
The leases total 22,000 square feet.
Miami’s urban core markets generated $1.2 billion in retail property sales last year, according to a recent CIASF commercial real estate report. CLICK ON THE HEADLINE FOR MORE
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