CHICAGO, IL – July 9, 2020 – STREAM Capital Partners, LLC, a national net lease and sale-leaseback advisory group, has arranged the sale and leaseback of a 28,500 square-foot cold storage and food manufacturing facility in Sanger, California, about 15 miles from Fresno. The facility is occupied by Initiative Foods, a co-packer of organic baby food, founded in 2002 by John Ypma.
Construction of the state-of-the-art facility was completed last year, after a devastating fire destroyed the company’s original production facility in 2016.
Chelsea Mandel of STREAM Capital Partners represented the seller in the transaction. Mandel said of the transaction, “This was a really nice deal for both my client and the buyer. Initiative Foods will use the proceeds from the sale to support the company’s financial goals for new customer launches over the next several months. The buyer is adding to its real estate portfolio a brand new, cold storage facility leased on a long-term basis to the largest private label, baby food manufacturer in the United States.” Mandel has been seeing very strong activity in the cold storage sector and expects this trend to continue.
Please contact broker, Chelsea Mandel, for further details on this transaction.