Badia Spices buys Sweetwater warehouse for $44M
November 3, 2020
Badia Spices is set to ramp up its production after purchasing a warehouse in Sweetwater for$44 million.
Clearwater-based Tech Data Corp. sold the312,456-square-foot warehouse at 2200 N.W.112th Ave. to Badia Spices, a family-owned manufacturer and distributor of spices, seasoning, marinades, sauces and more. The price equated to $141 per square foot.
The buyer was represented by Steve Medwin and Nick Wigoda of Newmark. They said it was the largest warehouse sale to anend-user in Miami-Dade County in the past four years.
The warehouse last traded for $19.13 million in 2003. It was built on the 15.7-acresite just north of the Dolphin Mall and east of Florida’s Turnpike in 2002.
“This is one of the largest warehouses in Doral/Sweetwater and also one of the largest single building sales to take place in South Florida this year,” Medwin said. “We are encouraged to see a local business expanding despite these challenging times. This significant sale further validates the strength of the South Florida industrial market.”
There’s been strong demand for warehouse space in South Florida from distribution and e-commerce companies in recent years, although the Covid-19 pandemic has caused a moderate increase in the industrial vacancy rate in the region.