Stan Johnson Company Brokers Sale of Food Manufacturing Portfolio for $38.5 Million
Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a six-building, 753,000-square-foot food manufacturing portfolio. The assets represent the entire U.S. operation of Diamond Crystal Brands, a leading manufacturer and distributor of customized food service solutions. The properties are located in California, Georgia, and Iowa, and the portfolio was purchased by New Mountain Capital, a private equity group based in New York, for $38.5 million. The seller was an institutional investor from New York.
Stan Johnson Company’s Joey Odom, Mollie Alteri, Mike Sladich, and Maggie Holmes represented both the buyer and seller in the transaction.
“This transaction emphasized the strength we continue to see in the manufacturing sector of the net lease market and the success our clients are having in that space,” said Odom, Regional Director in Stan Johnson Company’s Atlanta office. “We ran a nationwide marketing campaign that spanned private and institutional capital, and after generating offers on individual assets and the entire portfolio, we selected New Mountain Capital among a wide pool of bidders.”
About Stan Johnson Company:
Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties. The firm provides acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States. With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients. The firm has completed more than $35 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services. To learn more about Stan Johnson Company, please visit: www.stanjohnsonco.com.