The Easton Group Acquires Frito-Lay's Miami-Dade County Warehouse For $16.8M

The Easton Group has acquired a 6.5-acre industrial property located at 12850 Northwest 113th Court in Medley, Miami-Dade County. The property is a 45,022-square-foot warehouse, formerly owned by Frito-Lay. The sale price for this transaction was $16.8 million, equivalent to a price per square foot of $373. The property's market value and address make it a valuable addition to The Easton Group's portfolio.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $16,800,000
• Address: 12850 Northwest 113th Court, Medley, Miami-Dade County
• Market: Medley
• Acres: 6.5

The buyer in this transaction is The Easton Group, represented by Edward Easton. The seller of the property is Frito-Lay, represented by Steven Williams. Jeff Hartsook from Cresa acted as the broker in this deal. Grove Bank provided the financing for the transaction.

It is worth noting that despite the sale, Frito-Lay will remain as a tenant in the warehouse for the time being. However, the company has plans to relocate to a larger facility. Frito-Lay has already signed a lease for a 131,411-square-foot space at Bridge Point Doral, which is expected to be completed in 2024. This move indicates Frito-Lay's growth and future expansion in the industrial sector.