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South Florida

$10M warehouse purchase will spice up Doral

sold
Badia Spices purchased the warehouse.

Badia Spices shelled out $10 million for a 101,000-square-foot warehouse in Doral, not far from its company headquarters.

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The seller of the building, 9880 NW 25th St. Holdings LLC, led by Zafar Hussain, reportedly made a sweet profit off the deal after purchasing the building two years ago for $8.5 million. The spice company was able to make the transaction after gaining approval from the the Miami-Dade County Commission on a $10.5 million bond, according to the South Florida Business Journal.

The financing of the deal, which the company told the county was necessary in order to grow its sales, was handled by Northern Trust Co., the paper reported. [South Florida Business Journal] – Heather Grossmann

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DoralIndustrial Real Estate MarketMiami-dade County Commission