Vital Pharmaceuticals pays $35M for Pembroke Pines warehouse
Helms Development and Core5 Industrial Partners sold the site, formerly home to a state prison
Vital Pharmaceuticals paid $35 million for a new warehouse in Pembroke Pines, which it plans to use as its new headquarters.
The sports supplement company purchased the 224,572-square-foot industrial property for $155 per square foot from Helms Development and Core5 Industrial Partners, records show.
The 11.6-acre site at 20311 Sheridan Street formerly housed a women’s state prison.
CBRE’s Larry Dinner, Tom O’Loughlin, Larry Genet represented the seller in the transaction. Vital Pharmaceuticals was represented by Sky Groden with JLL.
Vital Pharmaceuticals, currently based in Weston, secured a $75 million loan from BB&T for the acquisition, records show.
The warehouse is part of the 750,000-square-foot South Florida Distribution Center which was developed by Helms Development and Core5 Industrial Partners in 2017.
Vital Pharmaceuticals, led by Jack Owoc, manufactures and distributes sports supplements under the brand name VPX. Its products include Power Rush and Bang, a popular sports energy drink.