Miami investor completes Allapattah assemblage with $5M warehouse purchase

Properties are close to Robert Wennett’s Miami Produce Center dev site

Miami /
Apr.April 27, 2021 03:30 PM
1221 Northwest 22 Street in Miami (Google Maps)

1221 Northwest 22nd Street in Miami (Google Maps)

Roland DiGasbarro completed his assemblage in the produce district of Miami’s Allapattah, buying a warehouse for $5 million.

DiGasbarro bought the building at 1221 Northwest 22nd Street, rounding off his industrial properties between Northwest 13th and 12th avenues along 22nd Street, according to Carlos Fausto Miranda of Fausto Commercial, who brokered all of the deals.

Domingo Rodriguez was the seller in the most recent purchase.

DiGasbarro, who was an early investor in Miami’s Wynwood and Overtown, bought the buildings at 1265 and 1255 Northwest 22nd Street for $3 million in 2016. Last year, he bought the building at 1201 Northwest 22nd Street for $1.45 million, according to Miranda.

The buildings, which were built in the 1960s and 1980s, amount to 21,000 square feet on 1.6 acres, according to property records. The real estate previously traded for $4.2 million, with one building selling in 1982 and the others in 2007 and 2016.

The assemblage is in the heart of the produce district, a major distribution, repackaging, shipping and wholesale hub for produce.

DiGasbarro’s assemblage is fully leased to tenants in the industry, including to Domingo Produce and Montero Produce, according to Miranda. Domingo Produce is owned by Domingo Rodriguez, who sold DiGasbarro the property at 1265 Northwest 22nd Street and fully leases it.

Allapattah’s produce district is experiencing major redevelopment and gentrification, with Robert Wennett’s Miami Produce Center leading the way. The 1.4 million-square-foot mixed-use residential project will rise across 22nd Street from DiGasbarro’s holdings.

Wennett’s project’s design features buildings rising on columns above the existing warehouses used by produce distribution tenants. Wennett bought the property in 2016 for $16 million.

DiGasbarro also has investments in Sunrise, where he is co-developing a single-family home community on the closed Sunrise Golf & Country Club.






    Related Articles

    arrow_forward_ios
    FECI's Kolleen Cobb with Countyline Corporate Park and the new sites at 4181 and 4241 West 108th Street (Google Maps)
    FECI plans Countyline Corporate Park expansion with $33M construction loan
    FECI plans Countyline Corporate Park expansion with $33M construction loan
    Andres Isaias and Alejandro Diaz-Bazan with 6385 Pinetree Drive Circle, Miami Beach (Google Maps)
    Andian Group buys waterfront Miami Beach estate for $19M
    Andian Group buys waterfront Miami Beach estate for $19M
    Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)
    Arbor Management buys multifamily dev site near Aventura for $10M
    Arbor Management buys multifamily dev site near Aventura for $10M
    Christoph Westphal and Oceana Key Biscayne (Google Maps)
    Biotech venture capitalist spends $18M on Key Biscayne penthouse
    Biotech venture capitalist spends $18M on Key Biscayne penthouse
    830 Brickell and 401 E Las Olas Blvd (Google Maps)
    Lease roundup: Thoma Bravo signs major lease in Brickell & more
    Lease roundup: Thoma Bravo signs major lease in Brickell & more
    Arnaud Karsenti and 5485 Hammock Drive, Coral Gables (Google Maps)
    Arnaud Karsenti sells lakefront Coral Gables home for $9M
    Arnaud Karsenti sells lakefront Coral Gables home for $9M
    Orhan Kilic and 1101 North Venetian Drive. (Kilic Seafood, Berkshire Hathaway Home Services)
    Turkish aquaculture magnate sells his waterfront Venetian Islands teardown for $6M
    Turkish aquaculture magnate sells his waterfront Venetian Islands teardown for $6M
    Eddie Irvine and his Hibiscus Island home. (Getty, Compass)
    Eddie Irvine drops $11M for waterfront Hibiscus Island home, plans renovation
    Eddie Irvine drops $11M for waterfront Hibiscus Island home, plans renovation
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...