Powerboat Maker Reaches Deal for HQ Buy

MIAMI-After running into difficulties with its planned build-to-suit facility in Hialeah Gardens, FL, Cigarette Racing Team LLC has purchased a different, 200,000-sf industrial facility here. The sale price was close to $5.5 million and the local facility is more than twice the size of the originally planned 75,000-sf Hialeah Gardens facility.

Cigarette Racing Team had a deal with a local developer, Carlos Martinez, to develop the build-to-suit world headquarters and manufacturing facility in Hialeah Gardens. However, after the building was substantially finished, Hialeah Gardens would not issue an occupational license for the company, saying the fiberglass would negatively impact the facility’s surroundings, according to Nick Wigoda, a broker involved in the sale of the local facility. For this reason, the company needed an alternate facility quickly.

Ultimately, Cigarette decided to buy the 200,000-sf facility from H&J Properties. The property at 4355 N.W. 128 St. once housed 500 Mako Marine employees. Now it will be home to the world-champion offshore boat builder and will continue to benefit South Florida economically.