First Industrial Leases 55648 Square Feet At First Park Miami With Tenant's Rep Colliers
8801 Northwest 87th Avenue
Building Size
55,648 SF
Asset Type
Industrial
Closing
Nov 4, 2025
AI
The property involved in this transaction is located at 8801 Northwest 87th Avenue, Medley. This industrial asset encompasses a total of 55,648 square feet and is part of First Park Miami, a new Class A industrial park.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 8801 Northwest 87th Avenue
- Market: Medley
- Landlord: Peter E. Baccile - First Industrial
- Landlord's Representative: Devin White - CBRE
- Tenant's Representatives: Erin Byers, Lauren Pace & Frankie Castellanos - Colliers
In this lease transaction, Colliers’ representatives Erin Byers, Lauren Pace, and Frankie Castellanos acted on behalf of the tenant, facilitating the agreement for the space in the industrial park. Devin White represented the landlord, First Industrial, ensuring the property was successfully leased.
Players
Medley Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93