HomeMy WebLinkAboutDowntown Office Lease Comps 01-30-18COMMUNITY DEVELOPMENT SPACE COMP.ARABLES
Purpose: The purpose of this market survey was to have an idea of the market price for leasing space within a half mile radius of the Miami Riverside Center. The 33 Downtown Building was identified as a suitable
location to move the Department of Community Development and we were able to negotiate a price per square foot of'$20.00 with contiguous space totaling 12,506 SF.
1
Building Name
Concord 66 Building
Address•
66 West Flagler
Street
Proximity
�IIZC
0.3 Miles
Asking Rent
$24.00 PSF
Parking Cost
N/A off site
Operating
Expenses
N/A Full
Service
Commentsto
Has a maximum of 6. 280 Sf of contiguous space available which is not enough to meet the needs of CD.
2
33 Downtown Building
33 SW 2nd Ave
0.2 Miles
$24.00 PSF
$35.00/month
per space
N/A Full
Service
Due to the proximity to the MRC and the ability to lease enough contiguous space to meet the needs of
CD, this was the most desirable space to move CD.
3
Courthouse Tower
44 W Flagler Street
0.3 Miles
$30.00 PSF
N/A off site
N/A Full
Service
Price point is too high.
4
Courthouse Plaza
24-28 W Flagler
Street
0.3 Miles
$16.00 PSF
N/A off site
N/A Full
Service
Has a maximum of 3,590 Sf of contiguous space available which is not enough to meet the needs of CD.
The building has a total of 10,425 SF available spread out on 5 different floors which would not be
conclusive to a proper work environment.
5
One Flagler Building
14 NE i st Ave
0.5 Miles
$25.00 PSF
$100.00/month
per space
N/A Full
Service
Has 11,091 SF of contiguous space available.
6
200 Building
200 SE 1st Street
0.6 Miles
$32.00 PSF
$163.00/month
.er space
N/A Full
Service
Has a maximum of 3,814 Sfofcontiguous space available which is not enough to meet the needs of CD.
Price point is too high.
'7
Chase Bank Building
150 SE 2nd Ave
0.5 Miles
$26.00 PSF
N/A off site
N/A Full
Serr ice
Has a maximum of 3394 St -el -contiguous space available which_is not enough to meet the needs of CD.
Information as of 113o/01 e
Page 1 of 1
Lease Availability Report
66 W Flagler St - Concord 66 Building
Miami, FL 33130 - Downtown Miami Submarket
BUILDING
Class B Office Co...
Tenancy. Multiple
Year But; 1964
RBA: 76,083 SF
Floors 13
Tvpscal Floor' 5,853 SF
AVAILABILITY
Mn Civisule 100 SF
Max Contig 6,280 SF
Total Availabx.. 29,240 SF
Asking Rent: $$22.00 - $40.00IFS
EXPENSES PER SF
$1.99 (2016)
SPACES
Floor Suite Use Type SF Avail Fir Contig Bldg Contig Rent Occupancy Term
E 4th 4 Office Refet 6,280 6,280 6.280 524.00/FS 30 Days Negotiable
P 5th 502 Office Refer 2,581 2,581 2,581 524,00/FS Vacant 1 - 5 Yrs
P 7th Office Relet 6,200 6,200 6.200 523.00/FS Negotiable Negotiable
P 9th Office Relet 100 - 500 500 500 $26.40 - 40.00/FS Vacant 1 - 3 Yrs
P 10th Office Relet 800 800 800 522.00/FS Vacant 1 - 5 Yrs
SALE
Condo Unit CU3 01A/B Sold on Aug 9, 2017 for 5519,000 (5233.47/SF)
AMENITIES
Bus Line, Restaurant, Security System
TRANSPORTATION
Tran>>G 3ix•,^.ay 2 minute walk to Miami Avenue Transit Stop (Metromover Downtown Loop)
Commuter R:•iil 10 minute drive to Hialeah Market Commuter Rail (TN -County Commuter)
Airport: 24 minute drive to Miami International Airport
Walk Score o, Walker's Paradise (99)
Transit Score : Rider's Paradise (100)
Copyrighted report licensed to City of Miami Dept. of Real Estate & Asset Mgmt. -
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Lease Availability Report
66 W Flagler St - Concord 66 Building
Miami, FL 33130 - Downtown Miami Submarket
KEY TENANTS
Van Ness Law Firm Pa
Andrews International
Cinotti LLP
6.280 SF
4.682 SF
3,000 SF
Brickell Travel Management
Rivkind Pedraza & Margulies
Hoffman & Hoffman P.A.
6,100 SF
3,442 SF
3,000 SF
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Lease Availability Report
33 SW 2nd Ave - 33 Downtown
Miami, FL 33130 - Downtown Miami Submarket
BUILDING
Class B Office
Ten n.v: Multiple
Year Suil`. 1926; Renov 2012
RBA: 96,978 SF
.Floors: 14
Typical Fig' or 5,513 SF
AVAILABILITY
Max .cage
794 SF
58,338 SF
60,344 SF
$522.00 - $26.00/FS
EXPENSES PER SF
$2.14 (2016)
.....................
$7.52 (2014)
SPACES
Floor Suite Use Type
P 2nd 202 Office New
P 2nd 201 Office New
P 3rd 302 Office New
P 3rd 301 Office New
P 4th 401 Office New
P 4th 403 Office New
P 4th 404 Office New
P 5th 502 Office New
P 5th 501 Office New
P 6th 602 Office New
P 6th 601 Office New
P 8th 801 Office New
P 9th 901 Office New
P 10th 1001 Office New
P 11th 1101 Office New
P 12th 1201 Office New
SALE
SF Avail
Fir Contig Bldg Contig
5,242 6,244 58.338
1,002 6,244 58,338
5,092 6,068 58,338
976 6,068 58.338
1,635 1,635 58,338
1,212 1,212 1,212
794 794 794
5,147 6,159 58,338
1,012 6,159 58,338
5,131 6,143 58,338
1,012 6,143 58.338
5,983 5,983 58,338
6,400 6,400 58,338
6,455 6,455 58,338
6,630 6,630 58,338
...........
6,621 6.621 58,338
Rent Occupancy Term
$22.00/FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.001FS Vacant 3 - 5 Yrs
$26.00/FS Vacant 3 - 5 Yrs
$26.00/FS 30 Days 3 - 5 Yrs
$26.00/FS 30 Days 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.001FS Vacant 3 - 5 Yrs
522.00/FS Vacant 3 - 5 Yrs
522.001FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
$22.001FS Vacant 3 - 5 Yrs
$22.00/FS Vacant 3 - 5 Yrs
f..,t rat Sold on Jun 30, 2017for $2,500,000 ($51.56/SF)
Copyrighted report licensed to Crty of Miami Dept. of Real Estate & Asset Mgmt. -
382728.
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Lease Availability Report
33 SW 2nd Ave - 33 Downtown
Miami, FL 33130 - Downtown Miami Submarket
AMENITIES
Bus Line. Controlled Access, Metro/Subway. Property Manager on Site
TRANSPORTATION
..APiikk Scare < Walker's Paradise (96)
Transit Scarf ,,.. Rider's Paradise (100)
KEY TENANTS
YTECH International
Confesa USA, LLC
W Tech Intl
6.046 SF 33 Downtown 3,000 SF
3,000 SF State Farm Insurance 2,437 SF
1,200 SF Ytech international 1,200 SF
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Lease Availability Report
44 W Flagler St - Courthouse Tower * ****
Miami, FL 33130 - Downtown Miami Submarket
BUILDING
Class B Office
Tenancy: Multiple
Year Built. 1974; Renov 2010
RBA: 164,771 SF
Floors 26
Typical Floc 6,275 SF
AVAILABILITY
DivisL le
Max Contig.
Total Avaitabe
Asking Rent
400 SF
6,749 SF
46,552 SF
$S31.50 - $36.00/FS
EXPENSES PER SF
Total Expenses $10.42 (2016)
SPACES
Floor Suite Use Type
E 3rd 300 Office Relet
P 6th 650 Office Relet
P 6th 600 Office Relet
P 7th 700 Office Relet
P 7th 750 Office Sublet
P 9th 950 Office Relet
P 10th 1050 Office Relet
P 14th 1450 Office Relet
E 16th 1600 Office Relet
E 18th 1800 Office Relet
P PENT 2600 Office Relet
SALE
SF Avail
Fir Contig Bldg Contig
6,549 6,549 6.549
2,795 2.795 2.795
3,571 3,571 3.571
3,310 3,310 3.310
400 400 400
4,335 4.335 4.335
2,965 2,965 5.930
2,440 2,440 2,440
6,706 6.706 6,706
6,732 6,732 6,732
6,749 6,749 6.749
Rent Occupancy Term
531.50/FS Vacant Negotiable
532.00/FS Vacant Negotiable
532.00/FS Vacant Negotiable
S33.00/FS Vacant Negotiable
S36.00/FS Vacant Thru Sep 2022
S32.001FS Vacant Negotiable
S33.00/FS 30 Days Negotiable
533.001FS Vacant Negotiable
S32.00/FS Vacant Negotiable
534.00/FS Vacant Negotiable
S34.O0IFS Aug 2018 Negotiable
Sold on Mar 2, 2016 for S27,500,000 (S166.90/SF) at 4.00% Cap
AMENITIES
24 Hour Availability, Banking, Central Employment Area, Controlled Access, Fitness Center, Mail Room, Property Manager on Site. Security
System, Storage Space, Storage Units
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Lease Availability Report
44 W Flagler St - Courthouse Tower
Miami, FL 33130 - Downtown Miami Submarket
TRANSPORTATION
Ratio of 0.00/1,000 SF
Transit^Subway. 2 minute walk to Miami Avenue Transit Stop (Metromover Downtown Loop)
Commuter Rail. 10 minute drive to Hialeah Market Commuter Rail (Tri-County Commuter)
Airport: 23 minute drive to Miami International Airport
Walk Score Walker's Paradise (99)
Transit Score Rider's Paradise (100)
KEY TENANTS
Liebler, Gonzalez & Portuondo
Florida Mediation Group, Inc.
Roig Lawyers
14,875 SF
6,917 SF
6,250 SF
Angones McClure & Garcia
Sabadell United Bank NA
City Year Inc.
6,938 SF
6,900 SF
6,000 SF
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382728.
1/29/2018
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Lease Availability Report
28 W Flagler St - Courthouse Plaza * * * * *
Miami, FL 33130 - Downtown Miami Submarket
BUILDING
Class B Office
Tenancy: Multiple
Year Built: 1968
RBA 74,820 SF
Floors 13
Typical Floor 5,700 SF
AVAILABILITY
Min Divisible 95 SF
Max Contig: 3,590 SF
Total Available: 14,531 SF
Asking Rent $$16.00 - $63.16/FS
EXPENSES PER SF
Taxes: $1.63 (2016)
Opex: $5.65 (2009)
SPACES
Floor Suite Use Type
P lst 100 Office Relet
P 4th 405/40e Office Relet
P 4th 450 Office Relet
P 7th 708 Office Relet
P 7th 701 Office Relet
P 9th 902 Office Relet
P 9th 909 Office Relet
P 9th 908 Office Relet
P 12th 1200C Office Relet
SALE
SF Avail
Fir Contig Bldg Contig
3,590 3,590 3.590
1,772 1,772 1,772
650 650 650
543 543 543
155 155 155
1,600 1.600 1,600
120 120 120
95 95 95
1,900 1,900 1,900
Rent Occupancy Term
516.00/FS Vacant Negotiable
516.00/FS Vacant Negotiable
516.00/FS Vacant Negotiable
516.00/FS Vacant Negotiable
530.97/FS Vacant Negotiable
516.00/FS 30 Days Negotiable
550.00IFS 30 Days Negotiable
$63.16/FS 30 Days Negotiable
$17.50/FS 30 Days Negotiable
Last Salo Sold on Dec 1, 2010 for $2,800.000 ($37.42/SF)
AMENITIES
Bus Line, Commuter Rail, Controlled Access, Metro/Subway, Property Manager on Site, Restaurant
TRANSPORTATION
Parkin. Ratio of 2.00/1,000 SF
Walk Score u;. Walker's Paradise (99)
Transit Score '; Rider's Paradise (100)
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Lease Availability Report
28 W Flagler St - Courthouse Plaza
Miami, FL 33130 - Downtown Miami Submarket
KEY TENANTS
Cathodic Legal Services. Archdiocese of Miami, Inc
Ouellette & Mauldin
Gary S. Glasser, PA.
5,700 SF
2.594 SF
1,900 SF
Bryant Law Firm
Warren Gammill & Associates. P.L.
Jeannie Reporting
3,800 SF
2,003 SF
1,900 5F
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Lease Availability Report
14 NE 1st Ave - One Flagler
Miami, FL 33132 - Downtown Miami Submarket
SPACES
Floor Use Type
P 2nd Office Relet
SF Avail
Fir Contig Bldg Contig
1,000 - 10,813 10,813 10,813
BUILDING
Type: Class B Office Co...
Tenancy: Multiple
Year Built: 1952
RBA: 147,100 SF
Floc:::, 15
T',ip cai Roof: 11,000 SF
AVAILABILITY
MniDivisb€e:
1 <ax Contig:
Total Avabie:
A;7king Ebert:
112 SF
11,091 SF
55,679 SF
$25.001FS
EXPENSES PER SF
Tex; s $5.77 (2018)
Rent Occupancy
$25.00/FS Vacant
Term
1 - 5 Yrs
Lasz;,:; Condo Unit 1101 Sold on Oct 28, 2016 for 5545,000 (S733.51ISF)
AMENITIES
24 Hour Availability, Air Conditioning, Banking, Bus Line, Concierge, On Site Management
TRANSPORTATION
Parking: Covered Spaces @ $100.001mo; Ratio of 0.00/1,000 SF
Transi' Subwvayr 3 minute walk to Miami Avenue Transit Stop (Metromover Downtown Loop)
Commuter Rsi! 11 minute drive to Hialeah Market Commuter Rail (Tri-County Commuter)
............................
Airport:
Wok co Walker's Paradise (100)
Transit: Score, Rider's Paradise (100)
KEY TENANTS
24 minute drive to Miami International Airport
Ideal Personnel Services
Immigrate USA
Grand Estate Realty LLC
4,000 SF
3.518 SF
3,000 SF
Tenhagen, Joseph W Gemstones Inc
Benchmark Realty
Klouros Armandeh
3,600 SF
3,000 SF
3,000 SF
Copyrighted report licensed to City of Miami Dept. of Real Estate & Asset Mgmt. -
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Lease Availability Report
200 SE 1st St - 200 Building
Miami, FL 33131 - Downtown Miami Submarket
BUILDING
Tf; a Class B Office
Tenancy: Multiple
Year Built: 1970; Renov 1998
RBA: 141,687 SF
Floors: 12
Typical Floor: 11,807 SF
Core F: 15°
AVAILABILITY
Min Dmss~Ie 129 SF
Max Contig. 3,814 SF
Total Available: 21,306 SF
Asking Rent $$28.00 - $34.00/FS
EXPENSES PER SF
Total Expenses: $10.00 (2016-Est)
SPACES
Floor Suite Use Type
P 3rd 305 Office Relet
P 3rd 301 Office Relet
P 4th 402 Office Relet
P 4th 401 Office Relet
P 4th 404 Office Relet
P 5th 503 Office Relet
P 5th 504 Office Relet
P 6th 600 Office Reiet
P 6th 601 B Office Reiet
P 7th 705 Office Reiet
SALE
SF Avail
Fir Contig Bldg Contig Rent Occupancy Term
1,276 1,276 1.276 $30.00 - 34.00/FS Vacant Negotiable
129 129 129 $28.00 - 32.00/FS Vacant Negotiable
3,224 3,224 3,224 $30.00 - 34.00/FS Vacant 3 - 10 Yrs
134 134 134 $30.00 - 34.00/FS Vacant Negotiable
3,495 3,495 3,495 $28.00 - 32.00/FS Vacant 3 - 10 Yrs
2,354 2,354 2,354 $28.00 - 32.00/FS Vacant 3 - 10 Yrs
908 908 908 $28.00 - 32.00/FS Vacant 3 - 10 Yrs
1,520 1,520 1,520 $30.00 - 34,00/FS Vacant 3 - 10 Yrs
3,814 3,814 3,814 $28.00 - 32.00/FS Vacant 3 - 10 Yrs
3,202 3,202 3,202 $30 00 - 34,00/FS Vacant 3 - 10 Yrs
Last Sale Sold on Feb 11, 2016 for $33,850,000 ($238.91/SF) at 5.00% Cap
AMENITIES
Atrium, Banking, Bus Line, On Site Management, Property Manager an Site, Security System
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Lease Availability Report
200 SE 1st St - 200 Building
Miami, FL 33131 - Downtown Miami Submarket
TRANSPORTATION
2O0 Covered Spaces @ $163.001mo; Ratio of 3.00/1,000 SF
Transit/Subway; 3 minute walk to First Street Transit Stop (Metromover Brickell Loop, Metromover Downtown Loop, Metromover Omni Loop)
Commuter Ra[l 11 minute drive to Hialeah Market Commuter Rail (Tri-County Commuter)
Airport- 24 minute drive to Miami International Airport
Walk Score `: Walker's Paradise (99)
Transit Score : Rider's Paradise (100)
KEY TENANTS
Levei3 24,508 SF National Parkinson Foundation 12,397 SF
Ocean Bank 12,254 SF R J Reynolds Tobacco Co 7,632 SF
Cogent Communications 5,368 SF On The Map, Inc 3,939 SF
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Lease Availability Report
150 SE 2nd Ave - Chase Bank Building
Miami, FL 33131 - Downtown Miami Submarket
BUILDING
Tenancy'
Year BL.-
RBA
Floors:
Typ+cal Roo'
Coro Factor
AVAILABILITY
Class B Office Co...
Multiple
1965; Renov 1996
140,000 SF
14
9,990 SF
19%
Min Divis ,'45
Max Cont.3;.
Total Avaitabte:
Asking Rent:
90 SF
3,394 SF
30,711 SF
$525.00 - $38.4OIFS
EXPENSES PER SF
Taxes:
(.apex.
SPACES
$4.41 (2016)
$7.30 (2014)
Floor Suite Use
P 4th 401 Office
P 4th 402 Office
P 5th 503 Office
P 9th 901 Office
P 10th 1003 Office
P 10lh 1005 Office
P 14th 1409 Office
P 14th 1411 Office
P 14th Office
P 14th 1404 + Office
P 14th 1410 Office
P PENT PH-5 Office
SALE
Type
Relet
Relet
Relet
Relet
Relet
Relet
Relet
Relet
Relet
Relet
Relet
Relet
SF Avail
2,909
2,743
843
1,640
439
555
683
1,390
687
1,448
1,524
1,213
Fir Contig
2,909
2,743
843
1,640
439
555
683
1,390
687
1,448
1,524
1,213
Bldg Contig
2,909
2,743
843
1,640
439
555
683
1,390
687
1,448
1,524
1,213
Rent
$26.00IFS
$25.00/FS
531.00/FS
$31.001FS
531.00IFS
531.00IFS
S31.001FS
$31,001FS
531.001FS
$38.001FS
$31.001FS
538.001FS
Occupancy
30 Days
30 Days
30 Days
Vacant
Vacant
Vacant
Vacant
Vacant
Vacant
Vacant
Vacant
30 Days
Term
1 - 5 Yrs
1 - 5 Yrs
1 - 5 Yrs
3 - 5 Yrs
Negotiable
Negotiable
1 - 5 Yrs
1 - 5 Yrs
1 - 5 Yrs
Negotiable
Negotiable
Negotiable
Condo Unit 906 Sold on Jul 26, 2017
AMENITIES
Banking, Bus Line, Metro/Subway. On Site Management, Security System
Copyrighted report licensed to City of Miami Dept. of Real Estate & Asset Mgmt. •
382728.
1 /29/2018
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Lease Availability Report
150 SE 2nd Ave - Chase Bank Building
Miami, FL 33131 - Downtown Miami Submarket
TRANSPORTATION
590 Covered Spaces are available; Ratio of 1.20/1,000 SF
Transit/Subway: 3 minute walk to Knight Center Transit Stop (Metromover Brickell Loop, Metromover Downtown Loop, Metromover Omni Loop)
Commuter tail; 10 minute drive to Hialeah Market Commuter Rail (Tri-County Commuter)
Airport 24 minute drive to Miami International Airport
Walk Scare • Walker's Paradise (99)
Transit Score Rider's Paradise (100)
KEY TENANTS
Hamilton & Miller PA
Next Workspaces
Integra Real Estate, LLC
12,120 SF
6,800 SF
3,000 SF
Chase Bank
BH Investment Group
Tache Bronis
7,500 SF
3,000 SF
3,000 SF
Copyrnghted report licensed to City of Miami Dept. of Real Estate & Asset Mgmt, -
382728.
1/29/2018
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