The Net Lease Group Sells Flowers Foods Distribution Facility in Carrollton, Georgia
Rick Ross, Senior Director of The Net Lease Group (NLG) arranged the sale of a new build to suit retail/distribution facility leased for 15 years to Flowers Baking of Villa Rica, LLC, a wholly owned operating subsidiary of Flowers Foods, Inc. (NYSE: FLO). The property is located in Carrollton, Georgia. NLG represented the seller, a build to suit developer. A Georgia investor acquired the property for $1.88 Million, closing only days after Term Commencement.
NLG put the property under contract very soon after the commencement of marketing within several basis points of the asking price. The NN 15-year Flowers lease contained fixed annual rent escalations through the primary and option terms.
Flowers Foods, Inc. generated 2017 FY sales of $3.9 Billion through a nationwide network of 49 bakeries which operate as wholly owned subsidiaries. Flowers’ mix of brands includes Nature’s Own, Wonder Bread, and Sunbeam, along with organic brands, Dave’s Killer Bread and Alpine Valley Organic.