Poultry, Meat Equipment Maker Completes 144K-SF Sale-Leaseback in Poultry Capital
Broadstone CG Georgia, LLC executed a sale-leaseback of a 144,218-square-foot industrial asset located at 2579 Monroe Dr. in Gainesville, GA, roughly 50 miles northeast of Atlanta and considered the “Poultry Capital of the World.” The seller, Bettcher Industries, Inc., leased back the facility for subsidiary Cantrell-Gainco, two well-established manufacturing businesses, serving poultry and meat processors in the U.S. and Western Hemisphere.
The recent acquisition and merger of Cantrell into Bettcher’s Gainco division created a need for a single facility to streamline operations, efficiencies and operating costs while retaining jobs in the area. The buyer is executing a renovation-to-suit on behalf of Cantrell-Gainco.
NKF’s Andrew Sandquist, JC Asensio, Briggs Goldberg, Dave Watson and Charlie Adams represented the seller.
“This was a unique opportunity for Cantrell-Gainco to consolidate its operations from several locations to a single facility,” says Sandquist. “With the purchase/leaseback investor funding its renovation-to-suit, Cantrell-Gainco was able to limit its capital contributions and reach an agreement that worked for all parties.”
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