The Real Deal Miami

Atlanta firm buys AriZona Iced Tea’s Pompano warehouse

Gourmet Foods International paid $120 psf for the warehouse
By Amanda Rabines | October 04, 2017 05:46PM

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.