Winston-Salem Food Distribution Building Flips for $23.5M

Fresh-food distributor, Foster, has purchased a distribution warehouse in Winston-Salem. Food company Purple Crow sold the 157,878 square foot building at 2900 Lowery St. for $23.5 million. Purple Crow is a distributor of Hispanic foods that announced new headquarters last year at Whitaker Park, the former Reynolds Tobacco complex.

The Triad Business Journal reports Foster plans to lease the property for a new headquarters and logistics center to serve customers in retail, business-to-business and wholesale trade, as well as restaurants and business and industry food service. Foster currently operates from the Piedmont Triad Farmers Market in Colfax.

With incentives from Winston-Salem and Forsyth County worth up to $86,550, the company announced an investment of about $6.25 million over five years and an expected 165 additional jobs.

On its website Foster says the company began as Foster & Caviness, a small fruit and vegetable business in Greensboro, North Carolina, that is now a multi-state and multi-disciplined provider of food supply chain solutions.