Former PepsiCo plant in Doral sells for $55M
SOUTH FLORIDA BUSINESS JOURNAL — FEBRUARY 8, 2021 — BY BRIAN BANDELL The former PepsiCo bottling plant in Doral is slated for redevelopment after being sold for $55 million.
Miami-based Terra and Miami Beach-based Terranova, through their interest in 7777 Investment LLC, sold the 23.7-acre site at 7777 N.W. 41st St. to an affiliate of GLP Capital Partners, an industrial developer led by Alan Yang in Santa Monica, California.
Terra and Terranova, led by David Martin and Stephen Bittel, respectively, purchased the property from PepsiCo in 2018 for $40.27 million, so they sold it for a gain. They leased it back to the beverage company, but that lease expired in July 2020.
