The Real Deal Miami

Badia Spices peppers its portfolio with the $9.5M purchase of a Doral warehouse

The spice company paid $175 psf for the warehouse
By Keith Larsen | August 15, 2018 03:30PM

Photo of the warehouse at 2101 Northwest 82 Avenue Pepe Badia

Badia Spices is peppering its portfolio with the purchase of a Doral warehouse for $9.5 million.

The global spice company headquartered in Doral purchased the 54,361-square-foot warehouse at 2101 Northwest 82nd Avenue from Lagunita Holdings, records show. The price equates to $175 per square foot for the warehouse, which sits on a 119,535-square-foot lot.

Lagunita Holdings, led by Holy Rincon, vice president of the logistics company Clover Group, purchased the property in 1988 for $780,918. The warehouse was built in 1989, according to property records.

Badia also owns five other warehouse properties in Doral, including one at 1400 Northwest 93rd Avenue and one at 1571 Northwest 93rd Avenue, according to property records.

Badia Spices was founded in 1967 by Jose Badia, a Cuban exile. His son Pepe Badia is now the majority owner and president. Today, the company manufactures and distributes spices, seasoning blends, marinades, sauces, teas, health items and other products to more than 70 countries, according to its website.

In March 2017, Pepe Badia paid $12.4 million for a ritzy, six-bedroom, 14,097-square-foot waterfront Coconut Grove estate at 3575 Stewart Avenue.