A Turkish cosmetic firm spent $6M on a Sweetwater lot. It’s planning US headquarters
A Turkish cosmetic company is coming to the United States. Its home base? Sweetwater.
The firm Farmasi bought a 3.72-acre site for $6 million, or $37 per square foot, at 10751 N.W. 25th St. on Thursday, according to a CBRE press release. The firm is new-to-market and will build an 80,000-square-foot headquarters and fully automated distribution center in Sweetwater, said a CBRE spokesperson. The company currently rents a warehouse location across the street in Doral.
CBRE Senior Vice Presidents Larry Genet, Tom O’Loughlin, and Jake Zebede represented the seller, REMS Group. NGI International Realty’s Alp Kucukoner represented the buyer.
Farmasi sells its products in 25 countries, including the United States, Poland, Czech Republic, Morocco, and Tunisia. The company start its pharmaceutical business in 1960 and expanded into cosmetics in 1995.
The site’s proximity to Doral appealed to the company, Kucukoner said. “Doral is booming. This was a good deal,” Kucukoner said.
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Farmasi wants a U.S. foothold as part of its $100 million North America expansion plan, said Emre Tuna by email, a Farmasi boardmember.
Sweetwater appears to be picking up traction. Last month, real estate investment firm RK Centers bought a 4.23-acre lot home to a Best Buy for $20.4 million.
Real estate brokers have seen an influx of new-to-market companies scouting in Miami-Dade County in the third quarter.
The story has been updated to reflect the name and details of the buyer.
This story was originally published October 9, 2020 at 6:00 PM.
