Surlean Foods

Cold Storage and Distribution Portfolio, Dallas & San Antonio, Texas
Deal Type:
Sale Leaseback
Price:
$28,300,000
Cap Rate:
7.30%
Current Rent:
$2,065,900
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
Four 5-Year Options at 2% Escalators Through Renewal Terms
Rent Increases:
2% Annual Increases

Investment Highlights

  • Mission-critical assets; facilities house the entirety of Surlean’s operations
  • Third-generation, family-owned business with a long-term operating history of over 40 years
  • Company maintains long-term contracts and primary customers have 20 to 40+ year relationships with Surlean
  • Long-term blue chip customer base of major restaurant chains including Wendy’s, Whataburger, Taco Bell, Moe’s, and Checkers
  • Over last 5 years, tenant has invested over $26 million into its facilities, machinery, equipment and systems, with additional investments planned
  • Excess land on San Antonio site allows for future expansion opportunity
  • Cold-storage, food-grade assets are in high demand in both Dallas and San Antonio markets
  • Dallas currently ranks as the #1 commercial property market in the country
  • San Antonio property is located in an Opportunity Zone with potential significant tax benefits for land ownership
  • Both properties are located in food-heavy, dense, industrial pockets with proximity to major thoroughfares

Listing Agents

Chelsea Mandel

Vice President
516 850 6962
Chelsea@stream-cp.com
Jonathan Wolfe STREAM Capital Partners

Jonathan Wolfe

Managing Principal
312 310 2798
Jonathan@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
jordan@stream-cp.com
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