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Jones Lang Lasalle Americas, Inc. ("JLL") is pleased to present the generational opportunity to acquire 555 Washington (the “Property,”) a 65,746 square foot, boutique, mixed-use asset whose irreplaceable location has cemented it as one of South Beach’s most recognizable Properties. Built in 2001 and renovated in 2015, the Property is currently 82% leased to 11 industry leading tenants with a 7.9 year weighted average lease term. The Property offers a diverse income stream that includes national and boutique office tenancy, credit-rated retail tenancy, and an in-place parking lease with significant upside potential. As one of three buildings accessible to users on foot from the South of Fifth neighborhood, 555 Washington is uniquely positioned to capitalize on the positive momentum of the Miami Beach office market.
- Class A, Institutional-Quality, Asset
- Office Space Has 6.6 Year WALT with Less Than 4% Rollover Before 2024
- In-Place Office Rents Are 20% Below Market
- Credit Retail Tenancy with Potential for Considerable Growth Through Lease-Up
- Market Leading 3.8/1,000 Parking & with Significant Revenue Upside
- Unparalleled Location on Miami Beach
- Revitalization of Washington Avenue Driven by Goodtime Hotel
- High Barriers to Entry