Entenmann's Inc., a Delaware corporation, sold the facility, which it previously occupied. The baked goods company is moving some of its operations to south Broward County and consolidating a portion of its existing operations elsewhere. Trujillo Brothers' current location is in the eastern section of the city, where it occupies approximately 100,000 sf of space.
The company is moving due to growth, according to a broker involved in the transaction, Rafael Villamizar, vice president in the local office of Grubb & Ellis. Trujillo Brothers, which distributes spices, sauces and rice locally and to the Caribbean, is renovating its new location. The work will include office renovations and a new roof. The company plans to occupy the space in another six months, Villamizar says.<p.The building is about 40 years old and just received its 40-year recertification, meaning the building is operational according to code. Eric Person, senior vice president in the local office of Grubb & Ellis, along with Villamizar, represented Trujillo Bros. in the sale. Cesar Ruiz of Grubb & Ellis represented Entenmann's.
The deal comes at a time when sales are strong in the Miami-Dade County industrial market. A reported 900,000 sf changed hands in the third quarter, according to a quarterly industrial overview for the county released recently by Codina Realty Services Inc. Oncor International.
In close proximity, at least two other large sales occurred recently. One is the approximately 120,000-sf Gator Industries Building, which sold for more than $20 million. In addition, Rivas Family Enterprises Inc., doing business as Dependable Warehousing and Distribution Services Inc., recently bought a 230,000-sf industrial building in east Miami for close to $4.1 million.
"More local companies and regional companies are still more interested in acquiring properties as opposed to leasing properties," Villamizar says. This is due to low interest rates, and "companies want to control their own future and have an investment in place.
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