A 440,709-square-foot distribution warehouse in Deerfield Beach, Fla., has sold for $84.1 million, less as a standalone real estate play and more as a byproduct of a major realignment in beverage distribution.

An affiliate of Reyes Holdings bought the facility at 441 SW 12th Ave. from Republic National Distributing Co. (RNDC), one of the country’s largest alcohol distributors, according to The Real Deal and Commercial Real Estate Direct. The price works out to roughly $191 per square foot. Wells Fargo provided a $60.4 million mortgage to the buyer.

The warehouse was part of Reyes Beverage Group’s acquisition of RNDC’s operations across 11 markets. The deal closed at the end of May and covers Arizona, Colorado, Florida, Louisiana, Maryland, Oklahoma, South Carolina, Texas, Virginia and Washington, D.C. with Hawaii still pending. Reyes has called it the largest acquisition in its history — one that adds roughly 5,200 employees and extends the Chicago-based distributor’s reach to 16 states. The new businesses will operate as RBG Spirits and Wine.

For RNDC, the sale continues a steady contraction. Once the second-largest alcohol distributor in the country, the company exited California last year and has been shedding markets through a run of deals. At the Deerfield Beach site, RNDC moved to lay off 363 workers as the Florida operations changed hands.

Built in 1991 on a 22.4-acre site west of Interstate 95, the warehouse last sold for $19 million in 2007. Its value now sits less in the building than in what moves through it, giving Reyes an established Florida distribution base from day one, rather than a property that it would have to develop or lease.

Jimmy Reyes, president of Reyes Holdings, summed up the wider push when the broader acquisition was announced, saying the company is “built to execute and win in this space.”

With the 11-market handoff now mostly complete, the Deerfield Beach building is one piece of a much larger redrawing of who moves beer, wine, and spirits across the Southern and Western U.S.