Turkish Farmasi Invests in US HQ

Turkish cosmetics company Farmasi has bought a site in Sweetwater, Florida, for its new U.S. headquarters. The lot, at 10751 N.W. 25th St., sits on 3.72 acres and was purchased for $6 million, or $37 per square foot, according to CBRE Group, the realtor that represented the seller, REMS Group. Farmasi plans on building an 80,000-square-foot headquarters and fully automated distribution center in Sweetwater and currently rents warehouse space in Doral. The company started its pharmaceutical business in 1960 and expanded into cosmetics in 1995. It sells products in 25 countries.