VERNON, Calif., July 26, 2019 /PRNewswire/ -- With the assistance of brokers from NAI Capital and NAI Puget Sound Properties offices, Sweetener Products has entered a multi-year sell-and-lease back agreement with Black Creek Group, a Denver-based real estate investment manager and development firm, for its Kent, Washington warehouse location.
Remarking on the short duration from listing to deal completion, Sweetener Products CEO Joe Tack said: "I am grateful for my relationship with Philip 'Ted' Attalla and Arie Salomon and am pleased by their efforts to quickly secure the sell and leaseback deal. This transaction enables Sweetener Products to realize considerable return on our well-timed investment while maintaining our Pacific Northwest presence to service our customers, growing regional demand and increasing profitability."
Numerous real estate investment funds competed for the well-located, rail-served warehouse. "We selected Black Creek Group as their offer best fits Sweetener Products' needs," said Tack. "Not only are the terms attractive, but also Black Creek Group's professionalism and property management expertise gave us confidence that they will be a responsible landlord."
The deal closed earlier this month.
About Sweetener Products
Sweetener Products stores, handles and supplies sugar and other nutritive sweeteners, starches, salts, proteins, fiber, gums, pulse grains and other specialty ingredients including Non-GMO and organic ingredients to the beverage and food manufacturing industry throughout the Western United States. Its SQF Level III warehouses, processing plants, truck fleet and rail serviced locations enables Sweetener Products to efficiently serve nearly 1000 customers ranging from Fortune 100 corporations to small business entrepreneurs that operate in the baking, beverage, confectionery, dairy, and food contract manufacturing industries. For more information visit www.sweetenerproducts.com
About Black Creek Group
Black Creek Group is an experienced real estate investment management and development firm that has bought or built more than $19 billions of investments over its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate – including office, industrial, retail and multifamily – providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has nine offices across North America with more than 300 professionals. More information is available at blackcreekgroup.com.
About NAI Capital and NAI Puget Sound Properties
NAI Grobal is a leading managed commercial real estate service company composed of more than 400 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with over 7000 local market professionals, managing in excess of 425 million square feet of property. Annually NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. To learn more, visit www.naicapital.com.
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