Now that plans for Robert Wennett’s mixed-use project in Allapattah have been unveiled, more investors are listing their nearby properties for sale.
Wennett, who sold 1111 Lincoln Road last year to German investment fund Bayerische Versorgungskammer for $283 million, is now focusing on Allapattah. His Miami Produce Center LLC is proposing a special area plan for the properties on Northwest 21st and 22nd streets, and between Northwest 13th and 12th avenues, just west of the Santa Clara Metrorail station.
That project, designed by Danish starchitect Bjarke Ingels, would include 1,200 apartments, a 227-room hotel, a 500-student special training vocational school, 74,800 square feet of retail and 231,000 square feet of office space. Wennett’s going before the Miami Urban Development Review Board on Wednesday. It marks the first major project for Allapattah, which is east of Miami International Airport and west of Wynwood.
Across the Metrorail tracks from the proposed SAP site is a warehouse owned by Miami Avenue Holding Company, controlled by Rosinella Italian Trattoria owner Tonino Doino. Doino just hired Brown Harris Stevens’ Jeff Cohen and Saad Hamdan to handle the listing, for $20 million. It was previously on the market for $21 million with broker Carlos Fausto Miranda.
The property at 1101 and 1109 Northwest 22nd Street features a two-story, 101,000-square-foot building on 80,000 square feet of land. It’s zoned for D2 industrial development and up to eight stories.
“With Allapattah, the most important thing is that we present it to the right audience. It’s not a typical land play,” said Phil Gutman, president of Brown Harris Stevens Miami. “Years back, no one wanted to touch Wynwood.”
Doino, an Italian restaurateur who also owns the Sunset Juice Cafe, Rosinella Market and Due Baci in the Sunset Harbour neighborhood, paid a combined $1.65 million for the Allapattah buildings between 2012 and 2016, and spent at least $3 million renovating the warehouses.
The Rubell Family Collection is in the midst of building its new 100,000-square-foot museum one block north at 1100 Northwest 23rd Street.
A number of other sites are also on the market in Allapattah, including a warehouse at 1395 Northwest 22nd Street, which is asking $3.85 million, according to Costar. The SunTrust bank branch building at 1400 Northwest 20th Street, just south of Wennett’s project site, is reportedly under contract. It was asking $6.85 million.
And in January, High Top Productions LLC listed the warehouse at 1034 Northwest 23rd Street for $8 million.
Besides Wennett, other new investors in the industrial neighborhood include commercial broker Lyle Stern, Michael Simkins and Wynwood developer Moishe Mana. In August, Mana added to his Allapattah assemblage with the $5 million purchase of 2301 Northwest Seventh Avenue. He now controls at least 6.6 contiguous acres on the west side of I-95.