A coffee grower, exporter and seller that sources its beans from a farm in Nicaragua bought a Miami-Dade County industrial property for $9.6 million.
H&H Coffee Group Export, through an affiliate, bought the property at 7355 Northwest 41st Street from AFE-Airport West Coffee, managed by Cynthia Seidl and Paul H. Freeman, according to records.
The 81,765-square-foot facility, which is designated as light manufacturing and food processing, is across 2.6 acres, property records show. It is between Doral and Hialeah.
It is unclear how H&H Coffee will use the facility and whether this is a relocation or expansion. Alain Piedra Hernandez, who is listed as company president in state corporate records, did not immediately return a request for comment.
H&H Coffee, which Hernandez co-founded with Marisol Siles in 2011, produces organic coffee and has broken into the international Arabic coffee market, according to its website. Its coffee farm, Siles Plantation in the city of Matagalpa in Nicaragua, is described as an employment center but also a community where H&H Coffee offers food and lodging as well as education for children.
The Miami-Dade industrial market has been hot, with a 5 percent drop in vacancies in the second quarter from the first, according to a JLL report. The demand is largely driven by e-commerce growth during the coronavirus pandemic.
In other recent industrial deals in August, Foundry Commercial and HighBrook Investors bought the Americas International Center in Doral for $18 million, and Longpoint Realty picked up three Opa-locka warehouses for $21.8 million.
H&H Coffee is not the only company in the food and beverage business to pick up a warehouse. Venezuelan food empire owner Mauro Libi, principal and CEO of Food Group International by A&M Global Solutions, bought a warehouse in Miami International Park for $7.8 million in March.
Source: The Real Deal