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8801 Northwest 87th Avenue

First Industrial Leases 55648 Square Feet At First Park Miami With Tenant's Rep Colliers
LEASEDIndustrial

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:

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

Devin White

CBRE

Broker

$461.7M

vol

22 deals

Broker

Peter E. Baccile

First Industrial Realty Trust

Landlord

$55.4M

vol

8 deals

Landlord

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