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Florida & Gulf Coast  + South Florida  + Industrial  |  May 27, 2021
David Cohen
By: David Cohen

Colliers Brokers $5M Sale of Allapattah Industrial Property

Colliers South Florida has arranged the $4.5 million sale of 868 NW 21st Terrace, a 21,840-square-foot warehouse in Miami’s Allapattah submarket. Mitash Kripalani of Colliers represented the undisclosed seller in the transaction. The buyer was also undisclosed.

The 45,700-square-foot site is located with direct access to major highways and public transit, as well as nearby amenities such as the Health District, Miami International Airport, Downtown Miami, and Brickell.

Asking lease rates in Miami-Dade County increased 1.3 percent quarter-over-quarter, reaching $10.14 per square foot and overall vacancy rate decreased to 4.7 percent, according to the Colliers Q1 Industrial Market Report. In the coming year, Colliers expects the Miami-Dade County industrial asking lease rate to increase as new quality products are delivered to market and demand continues to grow.

Read More News Stories About: Colliers
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Colliers’ Kripalani

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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