Global Food Properties is delighted to have recently represented one of the world’s largest and most recognized branded foods manufacturer in the sale of a dry mixing and baking plant in Southern Indiana. The five-line plant consisted of 186,979 SF, and in the six decades since construction, housed a series of emerging occupiers who would grow and eventually roll-up in the consolidated bakery sector.
Despite nominal aspects of functional obsolescence, the facility attracted substantial interest, including protracted reviews from companies in Germany and Spain. Of key interest was a large and scalable building footprint, linear flow with line-of-sight production, bulk dry and wet ingredient systems, an impeccable condition, and room to expand. Additional market drivers included a non-union workforce, Indiana’s compelling business and tax climate, and a mid-continent location with immediate access to Interstate 70.
The buyer is a leading contract foods manufacturer. Global Food Properties enjoyed an efficient and productive dialogue with Chicago-based Reologie, and its principal, Ellen Steinbrecher, agent for the Buyer.
Where Years of Experience Shows
The sale of multi-generation bakery plants is not for the uninitiated. Property nuances, a vastly consolidated sector, and increasing food safety concerns squeeze demand, curtailing what once was a vast and fruitful universe. Knowing how and where to make a market for such assets is Global Food Properties’ core expertise, and we are delighted that our 42nd bakery plant sale occurred in such a storied facility.