Global Food Properties, alongside Little Rock’s Cushman & Wakefield/Sage Partners, is pleased to announce the sale of a 100,000 SF former pork processing plant in Little Rock, Arkansas. The Seller is a Los Angeles-based frozen food manufacturer, and the Buyer is a St. Louis-based warehousing and logistics company. With a nominal infrastructure investment, the plant will be available to next-generation food manufacturing and distribution tenants, across the dry, refrigerated, and frozen spectrum.
The brokerage team faced the obvious challenges of bringing to life a plant that sat vacant for seven years. While the structure was sound, with an appealing 23.00 acres of expansion land, the interior finishes suffered. Hence, the campaign focused on the underlying value: A large footprint, suitable for high-volume production or distribution; elevated utilities; a large site; and an appealing low-cost Southern location. Pricing was calibrated to maximize the Seller’s recovery, while accommodating the desire for a quick sale. The parties easily reached the utopian middle ground, and a distressed asset will soon be redeployed.
The Little Rock sale confirms if a proper market is made, every asset can trade, even those abandoned for practical purposes. The expertise lies in identifying infrastructure that drives value - refrigeration, waste pre-treatment, steam, expandability - and then forecasting “ask” and “take” pricing through rigorous market documentation. Informed by nearly 200 food facility transactions, the brokerage team truly has “seen it all,” and was confident if expectations were properly managed, a successful outcome was inevitable.
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