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2200 NW 112th Ave, Miami, F...

Updated Oct 29, 2024

Badia Spices Purchases Miami Industrial Property For $44M
SOLDIndustrial

Badia Spices Purchases Miami Industrial Property For $44M

2200 NW 112th Ave, Miami, FL, 33172

$44,000,000

$140/SF

Building Size

313,000 SF

Asset Type

Industrial

Closing

Nov 3, 2020

About this deal

AI

The industrial property located at 2200 NW 112th Ave in Miami, FL, 33172, was sold for $44,000,000. The warehouse spans 313,000 square feet and is situated in the Miami market. Badia Spices acquired this Class A industrial building at approximately $141 per square foot in the Dolphin Commerce Park.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $44,000,000.00
  • Buyer: Badia Spices
  • Buyer's Representative: Steve Medwin (Newmark)
  • Seller: Tech Data
  • Previous Owner: Rich Hume, Tech Data

Newmark’s Steve Medwin and Nick Wigoda represented Badia Spices in this significant deal. Badia Spices, a renowned spices and herbs manufacturer, completed the purchase of the warehouse, expanding its operations in the South Florida region. Tech Data, a leading IT products and services distributor based in Clearwater, sold the property to Badia Spices. The acquisition marks a substantial investment by Badia Spices, showcasing the company's strategic growth in the industrial sector.

On the Map

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$44,000,000

$140/SF

Industrial

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Players

Steve Medwin

Stream Realty Partners⁠

Broker

$242.1M

vol

24 deals

Broker
BS
Badia SpicesBuyer
Bilt advertisement

Miami Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $140 per square foot on a published $44M for 313,000 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.36%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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