DemeTech expands with building purchase
The medical device manufacturer is set to produce more PPE at its new Miami Lakes location.
A recent sale in Miami Lakes will bring jobs to the area while producing personal protective equipment.
Commercial real estate brokerage firm NAI Miami announced that it represented Isaco in the sale of its former headquarters at 5980 Miami Lakes Drives in Miami Lakes. The buyer, reports South Florida Business Journal, is DemeTech, a medical device manufacturer headquartered in Doral, and was represented by Frank Trelles of State Street Realty.
The 158,964 square foot building stands at two stories with 59,016 square feet of office space and 99,948 square feet of air-conditioned warehouse space. It will become DemeTech’s fourth location, which will bring on 500-700 employees to continue to produce PPE, including N95 masks. South Florida Business Journal also reports that DeemTech purchased the building for $15 million.
“Amid a global pandemic, this is an important sale as Demetech will now be able to ramp up, expand and consolidate production of much needed high-quality masks for our country,” said Gabriel Garcia-Menocal, SIOR of NAI Miami. “This sale is also very important to Miami-Dade County as Demetech will be adding more much needed jobs in our market. Despite a lot of headwind in a very difficult environment during a challenging year, we’re very grateful to be able to successfully dispose of this asset at fair market price.”