The Real Deal Miami

GLL Real Estate Partners buys industrial building in Weston

Vital Pharmaceuticals has its HQ in the building
By Amanda Rabines | June 12, 2018 03:30PM

1600 Northpark Drive and CBRE’s Chris Riley

GLL Real Estate Partners just bought a nearly 13-acre industrial facility in Weston for about $30 million, according to a source close to the deal.

Munich-based GLL is the real estate equity investment arm for Macquarie Infrastructure and Real Assets, a division of the Macquarie Group. GLL Real Estate Partners was acquired by MIRA in February.

The facility at 1600 Northpark Drive sits within the Weston Park of Commerce. It was sold by Becknell Industrial and an institutional partner, according to a press release. Records show the partners bought the site in 2006 for $20 million. Becknell, a Carmel, Indiana-based real estate firm, specializes in industrial development and management.

CBRE’s Christian Lee, Chris Riley, José Lobón, and David Wigoda represented the seller.

The 226,400-square-foot facility is fully leased to two tenants, with half the building serving as the headquarters for Vital Pharmaceuticals, a maker of sports beverages and supplements. The other half is leased to snack food and beverage distributor Mondelez International.

In October, Becknell sold a neighboring warehouse for $8.1 million to real estate investor Leo Ghitis, who plans to convert the 90,620-square-foot warehouse at 1500 North Park Drive into a self-storage facility.