SVN Commercial Realty Closes Sale Of 50,000 SF Industrial Warehouse In Miami

SVN Commercial Realty successfully closed the sale of a 50,000-square-foot, fully-leased, multi-bay warehouse at 3580 NW 54th Street in Miami.

The property, situated on 1.58 acres in Miami’s Airport East submarket, sold to a private real estate investor for $11,750,000, equating to $235 per square foot.

Joel A. Kattan, SIOR, and Anthony Peragine of SVN Commercial Realty represented the seller, Pyramid 3580, LLC (John Safi).

This sale marks the third time Kattan and Peragine have successfully sold this industrial property, which consists of eleven units ranging from 2,500 to 7,500 square feet. In 2017, they represented longtime owner Allan Herbert—a well-known Miami philanthropist—in a sale to local investors. In 2022, they again represented the owners in a transaction with real estate investor John Safi of Pyramid 3850, LLC. Over the years, Kattan and Peragine have also exclusively managed leasing for all three owners, consistently maintaining full occupancy.

Kattan shared, “My history with this property dates back to 2005 when I began handling leasing for Allan Herbert. It has been an honor for Anthony and I to represent three different owners in both leasing and sales over the past 20 years.”