CBRE’s Dinner, O’Loughlin, & Genet Negotiate $40 Million Warehouse Sale

Jan 28, 2020 No Comments by

CBRE, Inc. Senior Vice Presidents Larry Dinner, Tom O’Loughlin and Larry Genet and negotiated a sale of a 249,005-square-foot warehouse located within South Florida Distribution Center at 20351 Sheridan Street in Pembroke Pines on behalf of seller South Florida Distribution Center Building B, LLC, a partnership between South Florida based Helms Development and Atlanta-based Core5 Industrial Partners.

The buyer, Weston, Florida-based Vital Pharmaceuticals (VPX), the parent company of Bang Energy drinks, paid $40,377,000 for the warehouse. The deal closed January 22.

JLL’s Sky Groden represented VPX in the transaction.

Back in February 2019, Sheridan Real Estate Investment A LLC, an entity managed by John H. Owoc, the head of VPX, purchased the neighboring 224,572-square-foot warehouse at 20311 Sheridan Street for $35 million. Dinner, O’Loughlin, and Genet and represented the seller and Groden represented VPX in that deal as well.

CBRE Larry Dinner Tom O'Loughlin Larry Genet

 

“We are pleased to have completed our second transaction with VPX, and it’s founder and CEO, Jack Owoc,” commented Scott Helms of Helms Development. “We look forward to working with them again and to continuing this track record of success on our other projects across Florida.”

South Florida Distribution Center is a three-building state-of-the-art logistics park situated on 66 acres less than one-half mile from U.S. 27, a popular shipping corridor, and less than four miles from I-75. The site, which is the former home of a women’s prison, was approved for a total of 744,344 square feet.

 

 

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