The affiliate of K.B. Toys of Florida Inc. leased 4,500 sf of retail space at 6700 Main Street from the Graham Cos. This submarket commands about $19 per sf, net of utilities.
Typically, lease terms in this submarket also require additional fees of $7.60 per sf for common area maintenance, property taxes and marketing dues.
Using those averages, the total estimated annual value of lease is worth at least $1.4 million, or possibly $7.18 million on a mid-term lease of five years.
Steve Style, Graham Cos. vice president of marketing, retained Mitch Boxer, a broker with Miami-based Terranova Corp., to represent the owner. Marty Hennessy, a broker with Katz & Associates Corp., negotiated for the tenant.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
