Atlanta firm buys AriZona Iced Tea’s Pompano warehouse

Gourmet Foods International paid $120 psf for the warehouse

TRD MIAMI /
Oct.October 04, 2017 05:46 PM

2450 West Copans Road and AriZona Iced Tea (Credit: Google Maps)

The nation’s leading supplier of iced tea is cashing out on its Pompano Beach location.

Property records show an affiliate of AriZona Beverages USA sold the building at 2450 West Copans Road to an Atlanta-based food wholesaler, Gourmet Foods International Inc., for $9.1 million.

The national food distributor paid about $120 per square foot for the roughly 75,000-square-foot warehouse. Russell McCall, founder of Gourmet Foods International, financed the deal with a $9.9 million loan from JPMorgan Chase Bank, records show. The two-story warehouse, built in 2001, sits on a 5-acre lot.

AriZona Iced Tea’s F&V Properties LLC paid $4.5 million for the property in 2003.

Gourmet Foods International has locations in Georgia, Texas, Colorado, Wisconsin, New Jersey and another in Pompano at 1100 Northwest 33rd Street. A spokesperson for the company could not immediately be reached for comment.

Nearby in Pompano, Farmers New World Life Insurance, a subsidiary of the Swiss insurance company Zurich Insurance Group, paid about $15 million, or nearly $120 per square foot, for a distribution center at 4000 North Dixie Highway in August.

Earlier this year, Restaurant Depot, a New York-based wholesale food distributor, acquired land in the Gulf Coast with plans for a 60,000-square-foot development.


Related Articles

arrow_forward_ios
Shlomo Khoudari, Managing Partner at Elion Partners, and Stephen A. Schwarzman, CEO of the Blackstone Group, with 1800-1880 North Commerce Parkway, Weston, and 3400-3450 Park Central Boulevard, Pompano Beach (Credit: Google Maps)

Blackstone pays $46M for Broward industrial properties

Blackstone pays $46M for Broward industrial properties
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis

“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
Rendering of development

Pompano Beach multifamily development with workforce housing advances

Pompano Beach multifamily development with workforce housing advances
Josh Zegen, Madison Realty Capital, Invesca CEO Chris Longsworth

Invesca scores $102M construction loan for two SoFla apartment projects

Invesca scores $102M construction loan for two SoFla apartment projects
Cusano’s Italian Bakery at 6806-6814 North State Road 7 (Credit: Google Maps)

Cusano’s Italian Bakery buys out landlord for $14M

Cusano’s Italian Bakery buys out landlord for $14M
South Florida’s industrial market could benefit from the coronavirus pandemic

A safe bet: South Florida’s industrial market could boom after pandemic

A safe bet: South Florida’s industrial market could boom after pandemic
Rendering of Siena at Palm Aire (Credit: Stellar Communities)

Stellar Communities scores loan for Pompano Beach townhomes

Stellar Communities scores loan for Pompano Beach townhomes
18770 Northeast Sixth Avenue

Miami warehouse leased to Southeast Frozen Foods sells for $31M

Miami warehouse leased to Southeast Frozen Foods sells for $31M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...