MIAMI LAKES, FL-K.B. Toys Express has leased a prime spot at Main Street and Northwest 67th Avenue in this master-planned community that the locally based Graham Cos. developed about 39 years ago.

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.

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