An aerial photo of warehouses at Pembroke Pines' South Florida Distribution Center. Photo: Smith Aerial PhotosBang Energy Drink Parent Buys Second Pembroke Pines Warehouse for $40 Million
Both of Bang Energy's properties are at the South Florida Distribution Center industrial park.
January 27, 2020 at 10:37 AM
2 minute read
Bang Energy drink's parent bought a second warehouse for over $40.4 million in a new industrial park in Pembroke Pines.
Weston-based Vital Pharmaceuticals Inc., also called VPX Sports, bought a 249,005-square-foot warehouse at the South Florida Distribution Center from the development partnership Jan. 22.
Seller South Florida Distribution Center Building B LLC is a partnership between industrial real estate companies Helms Development LLC, based in Fort Lauderdale and led by L. Scott Helms, and Core5 Industrial Partners LLC, based in Atlanta.
The duo is building the three-building industrial center on 66 acres northeast of Sheridan Street and U.S. 27. The park is less than half a mile from U.S. 27 and within four miles of Interstate 75.
The developers are building the third warehouse after completing two at 20351 and 20311 Sheridan St.
VPX Sports, a nutritional supplement and drink company best known for its high-caffeine Bang Energy drinks, bought the first building last year for $35 million.
The latest transaction breaks down to $162 a square foot.
VPX Sports was founded and is led by Jack Owoc.
CBRE Inc. senior vice presidents Larry Dinner, Tom O'Loughlin and Larry Genet in Fort Lauderdale closed the transaction on behalf of the seller, and JLL managing director Sky Groden in Miami represented the buyer.
Overall, the South Florida industrial market is driven by demand fueled by e-commerce growth and the scarcity of land available for new warehouses.
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