Badia Spices, Inc., represented by Tom Kimen and Dalton Easton of Easton & Associates, purchased the building from Lagunita Holdings, Inc., for $9,500,000, or $175 per square foot.
The deal closed August 1, 2018.
Badia Spices, Inc. is currently located at 1400 Northwest 93 Avenue in Miami which totals +/- 88,284 square feet. The new property will serve as an additional warehouse distribution location.
“Badia was very interested in the property due to a need for expansion and the short supply of free-standing Industrial warehouses in the Miami Airport West submarket,” explained Zuñiga. “They realized the value of the building and where able to secure a closing in short order.”
The newly-purchased 1989-built warehouse, which is located within Miami International Commerce Center (MICC), is situated on 2.74 acres. It features a private truck court, 10 dock doors, and 1 ramp. The property is ideally located at the corner of NW 82 Avenue and 21 Street, just west of the Miami International Airport.
Badia Spices is a manufacturer of spices and herbs that began in 1967. The spices are manufactured in Doral, Florida, where the company was founded and maintains its headquarters.
The company was started by José Badía, a Cuban exile who fled the island nation in the 1960s. Though he had a hardware business in Cuba, started the spice business in a small shop in the Little Havana neighborhood of Miami. In 1970, José hired his son, Joseph “Pepe”, to manage daily operations, and “Pepe” is now the majority owner and president of Badia Spices, Inc.
Today, Badia Spices sells over 120 products, including raw spices and herbs, blended spices, and dried chili peppers, throughout the United States and in 67 other countries.