Investors launch leasing for Allapattah micro offices

30 units asking between $621 to $1,190 a month

TRD MIAMI /
Mar.March 11, 2019 04:30 PM

804 Northwest 21st Terrace

A Miami investment group is beginning leasing of a micro office development in Allapattah as the area heats up with new projects.

Central Commercial Real Estate launched leasing at the Allapattah Building, a renovated 14,520-square-foot building at 804 Northwest 21st Terrace in Miami, just west of Wynwood. Monthly rents, which are double net, start from $621 and go up to $1,190, according to a property flier. Units range from 274 square feet to 525 square feet.

Ari Dispenza, Diamela Burguera and Eric Gonzalez of Central Commercial Real Estate are handling leasing.

The Turris Group, which owns more than 4.6 acres of land and over 100,000 square feet of building space in Allapattah, owns the building. Property records show TTH23 804 AP LLC, managed by Luis Percovich, Ivan X. Gallegos and Alejandro Torres, paid $2 million for the building in October 2017. It was built in 1925 on a 14,543-square-foot lot.

The just-completed Allapattah Building includes a conference room, common area lounges and courtyards. The 30 offices each include a kitchenette and full bathroom.

Allapattah has attracted investment from Robert Wennett, Jorge Pérez, Lissette Calderon, the Rubell family, Michael Simkins, Lyle Stern, Moishe Mana and others. Wennett, who developed 1111 Lincoln Road, hired architect Bjarke Ingels to design plans for a residential, office, retail and hotel project between Northwest 21st and 22nd streets, and between Northwest 13th and 12th avenues.

In November, Pérez paid $2.7 million for the warehouse at 2270 Northwest 23rd Street where he’s planning a mixed-use complex focused around art.


Related Articles

arrow_forward_ios
Steven Hurwitz and Ryan Severino

JLL’s top economist forecasts low probability of a recession

From top left, clockwise: Wynwood 28, the Allapattah apartment building, Miami Riverside Center, and the Target-anchored mixed-use project in Miami’s Overtown

Mixed-use projects from Swerdlow, Kushner, TSG Group proposed in Miami

1800 Southwest 27th Avenue

Freshwater Group buys Miami office building

Malcolm Butters, 950 Peninsula Corporate Circle in Boca Raton

Butters buys Boca Raton office building

From left: 3225 Aviation Avenue and 3250 Mary Street; Roberto Susi and Jose Sasson (Credit: Google Maps)

Madison Marquette pays $47M for Coconut Grove office buildings

2001-2005 West Cypress Creek Road, Alex D. Zylberglait

Office complex near Fort Lauderdale airport sells for $7M

Rendering of 119 Washington Avenue, Amit Egan Datwani of The Global Consulting Organization and Cyril Bijaoui of The Company Real Estate (Credit: Palma Architecture)

South Beach building near Joe’s Stone Crab hits market for $45M

There were plenty of offices leased in 2019 (Credit: iStock)

South Florida’s biggest office leases of 2019

arrow_forward_ios
Loading...