Playboy amends Miami lease and leases additional floor space through 2037

Playboy, Inc.

Original lease amended: delivery date moved to Jan 1, 2027; term extended to Nov 30, 2037; rent abated from Jan–Jul 2027 then escalates from $176,479/month.
New lease for additional 5,696 RSF on same floor: term to Nov 30, 2037; base rent $49,840/month from Mar 2027 (abated through Feb 2027); $600K letter of credit required.
Both leases contain cross-default provisions; Playboy now leases the entire sixth floor.
Landlord must complete amenities (lobby, speakeasy, gym) by Aug 31, 2026 or face rent abatement and potential termination rights for Tenant.
Tenant has two five-year renewal options under the new lease.

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