Celsius Holdings (Nasdaq: CELH) has expanded its footprint in South Florida with a new industrial property in western Broward County.

The Boca Raton-based beverage company acquired the 35,563-square-foot warehouse at 10151 N.W. 67th St. in Tamarac through an affiliate for $11.5 million, according to a July 7 deed filed with Broward County.

The seller was an affiliate of Tamarac-based nutritional supplement company IQ Formulations, which describes the property as its headquarters on its website.

Property data firm Vizzda confirmed the parties in the deal.

The warehouse sold at a huge gain from its last trade of $2.85 million in 2013, according to Broward County records. It offers easy access to the Sawgrass Expressway.

It wasn’t immediately clear what Celsius would do with the property. Neither Celsius nor IQ Formulations responded to repeated requests for comment from the Business Journal.Celsius develops and produces energy and fitness drinks under brands that include Celsius, Alani Nu and Rockstar Energy. Purchase, New York-based PepsiCo (Nasdaq: PEP) holds an 11% stake in the company through a $585 million deal announced last August.

The global energy drinks market was valued at $79.4 billion in 2024, according to Grand View Research. The San Francisco-based market research firm projects the category will grow at a compound annual rate of 8% through 2030, reaching about $125.1 billion.Celsius, led by Chairman and CEO John Fieldly, posted $783 million in revenue in the first three months of this year, according to its latest quarterly report, filed May 7 with the U.S. Securities and Exchange Commission. That’s up from $329 million in the same period last year. The company reported $110 million in net income in the first quarter of this year, up from $44 million in the first quarter of last year.

Celsius shares were trading at $28.76 Monday morning, down 0.79% from market open. Shares were down 35.22% for the year ended July 20.