The Real Deal Miami

Gun maker pulls the trigger on Miami Gardens building

Company tied to appliance wholesaler Kalorik purchased the warehouse
By Keith Larsen | December 11, 2018 04:30PM

Taurus International CEO and 16175 NW 49th Ave, Hialeah

Gun manufacturer Taurus International just sold a warehouse in Miami Gardens for $12.2 million to a company tied to the home appliance wholesaler Kalorik.

Taurus International sold the 120,739-square-foot facility at 16175 Northwest 49th Avenue for about $100 per square foot, property records show. The buyer, Sunway Holdings, is managed by David Murad, who is a principal of the home appliance wholesaler, Kalorik. Sunway Holdings financed the purchase with a $9.7 million loan from Citibank.

Taurus specializes in making pistols, rifles and revolvers and is an affiliate of a publicly traded company based in Brazil called Taurus Armas S.A.

Taurus bought the 6.2-acre property through bankruptcy in 2012 for $2.4 million.

Buyers are increasingly seeking out industrial properties in Miami-Dade County as land and developable sites become more scarce. Over the past five years, average prices per square foot for warehouse buildings in South Florida have increased by 65 percent, according to Colliers International South Florida.