Vital Pharmaceuticals, the maker of Bang energy drinks and other health-focused products, acquired a new distribution warehouse in western Pembroke Pines for $35 million.
South Florida Distribution Center Building A LLC, a partnership between Atlanta-based Core5 Industrial Partners and Helms Development, led by Scott Helms, sold the 224,572-square-foot warehouse at 20311 Sheridan Street to Sheridan Real Estate Investment A LLC, managed by John H. Owoc, the head of Weston-based Vital Pharmaceuticals, also known as VPX.
The owner of a new logistics center near Interstate 55 in Horn Lake will immediately start planning and erecting the last three buildings, totaling another 1.5 million square feet, now that the first two warehouses have been either sold or filled.
It was just in October when Core5 Industrial Partners announced construction was completed for the first two buildings of its 175-acre DeSoto 55 Logistics Center.
On Wednesday, the Atlanta-based firm announced the 581,475-square-foot Building A had sold to an undisclosed Fortune 500 company, which will use it as a key facility in its distribution network.
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Construction Slated to Begin Q2 2109 on Three Additional Buildings Totaling 1.5 MSF in Business Park
ATLANTA, February 20, 2019 – Atlanta-based Core5 Industrial Partners announced today the sale of a 581,475-square-foot building located in Desoto 55 Logistic Center, a 173-acre park situated at US Highway 51 in DeSoto County along the I-55/I-69 corridor in the greater Memphis industrial market. The initial cross-dock facility, located at 1241 Commerce Drive, Horn Lake, MS, and known as Building A, was sold to a Fortune 500 company to use as a key facility in their distribution network. Elliot Embry with NAI in conjunction with NAI Global Corporate Solutions represented the undisclosed buyer.
The second existing building in the park, Building B, is a 300,145-square-foot rear-load building that has been fully leased to DSV Solutions, LLC and EPE Industries USA which will both occupy in first quarter 2019. DSV Solutions was represented in-house and EPE Industries was represented by Jacque Beeson of CBRE.
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