Investors launch leasing for Allapattah micro offices

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

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.

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