Investor tied to rum maker buys Gordon Food Service site in Flagami: $7M

Property last sold for $3.6M in 2002

Jun.June 22, 2016 04:00 PM

Gordon Food Service Marketplace in Miami

A company tied to rum manufacturer Matusalem Rum bought a Gordon Food Service Marketplace in the Flagami neighborhood of Miami.

GFS Flagler Street paid $6.7 million for the 17,431-square-foot grocery store at 5600 West Flagler Street, records show.

The company is controlled by Claudio I. Alvarez with an address that matches Matusalem Rum. The building, completed in 2002, sits on a 45,100-square-foot lot just south of Miami International Airport.

Marcus & Millichap’s Ronnie Issenberg, Gabriel Britti, Scott Sandelin and Al Palacios brokered the deal. It was on the market for a little more than $7 million, according to CoStar.

Flamengo Enterprises Inc. sold the property, which includes 38 parking spaces. The company paid $3.6 million for the building in 2002.

GFS has more than 170 locations across the United States, and has seven years left on its double-net lease.

Nearby, a pair of Miami developers bought a development site at 61 Northwest 37th Avenue and will build a new apartment complex there.

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