Wholesale Bakery Inks 45,000-SF Lease

MIAMI-Kansas City, MO-based Interstate Brands Corp. is taking 45,030 sf at 8101 NW 21st St. The long-term lease has an approximate aggregate net lease value of $1.7 million.

CB Richard Ellis first vice president Michael Silver represented the landlord, Bozeman, MT-based Severson Ranch Partnership. Walter Byrd, of Trammel Crow, represented the tenant.

Interstate Brands Corp. is a wholesale bread and cake distributor whose brands include Wonder Bread and Twinkies. Silver tells GlobeSt.com that the company used to own a much larger facility in Miami where both production and distribution occurred. "The company decided to stop production and sell off that facility," Silver says. "But they still needed a distribution location."

8101 NW 21st St. is a one-story industrial building located within the Miami International Commerce Center in the heart of the Airport West submarket, adjacent to the Palmetto Expressway with frontage on the Dolphin Expressway. "In a very tight market with 2.7% vacancy in bulk space and average asking rates at $8 per sf, Interstate Brands Corp. was limited in their options based on size and location requirements," Silver says. "8101 NW 21st St. offered the square footage needed along with the optimal location for servicing their tri-county and off-shore customers."

Built in 1992, the building features seven truck well positions and 11 grade-level truck doors. Silver says the building is unique because most buildings in the area do not have truck doors at grade level and would have required the construction of ramps for the bakery trucks to enter the building. The site also has extra land where trucks can be stored when not in use, he adds. "The building is unique because it's a freestanding building with truck docks at grade level," Silver says. "The bakery trucks can just pull into the building."