Adding flavor: Badia Spices pays $44M for Sweetwater warehouse

Tech Data Corp. sold the 313K sf building

Miami /
Nov.November 03, 2020 04:30 PM
Rich Hume and Joseph Badia with 2200 Northwest 112th Avenue in Sweetwater (Google Maps; Tech Data; Twitter/BadiaSpices)

Rich Hume and Joseph Badia with 2200 Northwest 112th Avenue in Sweetwater (Google Maps; Tech Data; Twitter/BadiaSpices)

Talk about mixing sugar and spice.

Badia Spices bought a warehouse in Sweetwater for $44 million.

The Doral-based spices and herbs manufacturer paid about $141 a square foot for the 313,000-square-foot building at 2200 Northwest 112th Avenue in Dolphin Commerce Park, according to a press release.

It is the largest warehouse sale by both size and price to a user-occupier in South Florida in the past four years, according to Newmark, which brokered the deal.

Newmark’s Steve Medwin and Nick Wigoda represented Badia, according to the release.

Tech Data, a publicly traded IT products and services distributor based in Clearwater, sold the warehouse. The Class A industrial building was completed in 2002 and sits on nearly 16 acres, according to the release.

Tech Data, led by Rich Hume, acquired the building in 2017 as part of a $156 million deal to buy six properties it leased from SunTrust Bank, including its headquarters, according to documents filed with the U.S. Securities and Exchange Commission. The documents did not break down the value of each building. The other properties were in Texas, California, Georgia, New Jersey and Indiana.

Badia Spices manufactures, packages and distributes spices, seasoning blends, marinades, sauces, teas, health items and other products to more than 70 countries around the world, according to the release. The company is led by Joseph “Pepe” Badia.

In 2018, Badia bought a Doral warehouse for $9.5 million.

In 2017, Pepe Badia paid $12.4 million for a waterfront Coconut Grove estate.

Other industrial deals in South Florida include a company tied to motivational speaker and author Tony Robbins buying a West Palm Beach warehouse for $4.4 million and Blackstone buying eight industrial properties in Miami-Dade County from Elion Partners as part of a $93.5 million South Florida portfolio deal.


Related Articles

arrow_forward_ios
FECI's Kolleen Cobb with Countyline Corporate Park and the new sites at 4181 and 4241 West 108th Street (Google Maps)
FECI plans Countyline Corporate Park expansion with $33M construction loan
FECI plans Countyline Corporate Park expansion with $33M construction loan
CubeSmart CEO Christopher Marr (Google Maps, LinkedIn via CubeSmart)
CubeSmart buys Weston self-storage for nearly $12M
CubeSmart buys Weston self-storage for nearly $12M
Valerio Spinaci and 1506 Collins Avenue (Google Maps)
Triarch buys Dania Beach industrial property for $10M
Triarch buys Dania Beach industrial property for $10M
Edward Easton and rendering of Doral warehouse at 1500 Northwest 97th Avenue
Easton Group scores $12M construction financing for Doral spec warehouse
Easton Group scores $12M construction financing for Doral spec warehouse
Alliance HP founders Richard Previdi and Clay Hamlin III with 7233 Seacrest Boulevard, Lake Worth (Alliance)
Alliance spends $17M on Lake Worth industrial property
Alliance spends $17M on Lake Worth industrial property
3690 Northwest 62nd Street, Hialeah
Grocery wholesaler buys Hialeah warehouse for record $12M
Grocery wholesaler buys Hialeah warehouse for record $12M
David Martin with a rendering of Natura Gardens
Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
The lot of space at Pompano Beach. (Broward County)
Owner of Pompano industrial park to triple warehouse space to 100K sf
Owner of Pompano industrial park to triple warehouse space to 100K sf
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...