State Street Realty Closes $15 Million Warehouse Sale

State Street Realty completed a warehouse sale transaction valued at $15 million. DemeTECH purchased a 156,000 square foot industrial warehouse at 5980 Miami Lakes Drive in  Miami Lakes. State Street Realty’s Vice President Frank Trelles, SIOR represented the DemeTECH in the transaction. Gabriel Garcia-Menocal and Lucia Custer of NAI Miami and Sybil Benazera of Corporate Realty Solutions represented the Seller. DemeTECH, a Miami-based medical device manufacturer, began production of American-made PPE at the beginning of the COVID-19 pandemic. DemeTECH scaled up production to be the only producer of high-quality surgical masks and N95 respirator masks in the state of Florida.  Since pivoting the company’s capability to create masks, DemeTECH has opened two additional production facilities to expand growth to address personal protective equipment needs. The company purchased the building  and anticipates adding another 500 jobs by the end of 2020.  

Luis Arguello Jr., Vice President of DemeTECH said, “We are proud to be the only facility in Florida producing American-made surgical masks and N95 respirators. We have greatly expanded our production and staffing to meet the demands that COVID-19 has placed on our heroes in the medical community.”

 

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