Cosmetics Manufacturer Purchases 84,000 SF Distribution Facility

CBRE arranged the sale of an 83,623-square-foot manufacturing distribution building located at 1341 West Newport Center Drive in Deerfield Beach.
Mafer Holding, LLC acquired the property, formerly occupied by Pylon Manufacturing, from Weekley One Deerfield, LLC for $7,050,000, or $84.31 per square foot.
CBRE represented the seller.
“This purchase further supports a trend of manufacturing expansion that is occurring in South Florida,” said CBRE’s Harry Tangalakis. “It’s another signal that the industrial recovery is on solid footing.”
Located off and adjacent to I-95 at SW 10th Street, the property was built in 1981 and expanded with an addition in 1989. It was acquired as an investment with Pylon Manufacturing as a tenant. Pylon vacated the property in early 2013 and the property was offered by CBRE for sale or lease.
The property includes 151 car parking spaces on 6.4 acres of land and is located in the master planned business park Newport Center.
Mafer Holding, doing business as Cosmo International, will utilize the facility to manufacture its cosmetic products. Cosmo also owns and occupies a 37,000-square-foot free-standing building at 601 Fairway Drive in Deerfield Beach.
The CBRE team representing the seller included Tangalakis, Tom O’Loughlin and Larry Genet. Cushman & Wakefield’s Rick Etner, Chris Metzger and Christopher Thomson and CRESA’s Sky Groden represented the buyer in the transaction.
CBRE is a Corporate Sponsor of the South Florida Manufacturers Association and Tangalakis is a Board Member.