IShowSpeed buys a black Miami-Dade warehouse for a studio

Darren Jason Watkins Jr., the streamer known as IShowSpeed, paid nearly $11 million for a 26,600-square-foot warehouse at 8700 Northwest Seventh Avenue in unincorporated Miami-Dade, and plans to convert it into a content creation studio. The building, completed in 1969, is painted entirely black including its windows.

Why it matters

Strip out the celebrity and this is a pricing story about infill industrial. Nearly $11 million on 26,600 square feet is a number no logistics tenant in that submarket would underwrite. It is a use-driven price, paid by a buyer who needs a specific box in a specific place and is not solving for rent per foot.

That is a category agents and owners of older Miami-Dade warehouses should take seriously. Production and creator capital has been quietly bidding for infill boxes with clear span, power and parking, and it competes on a different math than a 3PL. When the highest and best use of a 1969 warehouse becomes a studio rather than storage, the comp set for every similar building on the corridor gets messier in the owner’s favor.

The submarket context matters too. This sits near West Little River, where we covered the 4,040-unit HueHub proposal under Live Local a week ago. Industrial parcels there are increasingly being bid by people who are not industrial users.

The numbers

Nearly $11 million paid. 26,600 square feet on 1.8 acres, built 1969. The seller, an entity managed by Edgar and Farid Guanuna, paid $8 million for it in 2022, buying from the nonprofit Miami Rescue Mission, which puts appreciation at roughly 37 percent in four years. The public listing record for the property carried a $12.2 million ask, so the trade appears to have cleared about 10 percent under. Jordan Karp represented the buyer and declined to comment.

What’s next

The exact price, the buying entity and the deed date have not been confirmed in the public record, and we could not read the originating report directly. Treat the price as approximate until the Miami-Dade deed posts. More South Florida coverage.