A family-owned bakery that uses both artisanal and machine methods to make its bread and rolls now owns the Coconut Creek warehouse where it’s based after purchasing the property for $13.6 million.
Cusano’s Bakery bought the 411,337-square-foot warehouse on the southeast corner of West Hillsboro Boulevard and U.S. 441 from its landlord, Boca Raton-based Fields-Realty LLC led by Kim Fields, according to Broward County and state corporate records. Fields-Realty owned the site through affiliate Coconut Fields LLC.
The warehouse built in 2003 sits on 22 acres at 6806-6814 N. State Road 7.
Cusano’s has been owned and run by the Greco family since 1966 and is led by fifth-generation bakers Michael, Salvatore and Santo Greco, according to its website. It offers more than 200 varieties of bread and rolls that are either handmade or machine-made in larger quantities.
Its Coconut Creek production facility employs 120 people, is capable of making more than 18,000 items a minute and is equipped with a Blast freezer for international distribution. The company produces more than 200 fresh products for customers in South and Central Florida.
The bakery secured a $13.6 million mortgage from Coral Gables-based Amerant Bank NA for the purchase, which breaks down to $33 a square foot, records show.
The sale price is a 7 percent uptick from the $12.7 million Fields-Realty paid in October 2012, according to county deeds.
Source: Thanks https://www.law.com/dailybusinessreview/2020/04/17/bakery-buys-its-coconut-creek-home-for-13-6-million/