Odyssey Real Estate Capital, Gordon Brothers Group and New Mill Capital Holdings have sold a Littleton, Massachusetts-based industrial plant once owned by Sunny Delight Beverages. The buyer was not identified. No financial terms were disclosed.
LAS VEGAS (PRWEB) MARCH 23, 2017
Odyssey Real Estate Capital, a Las Vegas-based real estate investment firm, completed the sale of its 332,000 SF industrial real estate project in Littleton, Massachusetts.
Sunny Delight Beverages, the previous owner of the plant, had marketed the industrial building throughout 2015 but was unable to find a buyer. However, in November of 2016, less than a year after Odyssey joined forces with New Mill Capital from Los Angeles and Gordon Brothers Group from Boston, the team was able to find a buyer and close the deal.
Greg Johnson of Odyssey describes how New Mill sourced the deal, and initially wanted Odyssey to produce a plan for separating and selling the real estate components. The 29-acre factory campus includes a juice processing plant, a bottling and cold storage facility, warehousing, research and office facilities, a rail spur and a high capacity reverse osmosis water processing plant.
Graham Nelson, an Odyssey Principal adds, “Our venture came together to support a quick liquidation for Sunny Delight. We bought this asset with the hope of finding a user that wanted the entire plant though we felt we could make a fair profit selling the bottling line equipment at auction and separating and selling the industrial and office real estate components to separate users.”
Ultimately, the team was able to generate significant interest from various food processing firms, and completed a sale to a local bottling operator who bought the plant and equipment together. “We were very pleased with the team we assembled, and our speedy execution ultimately led to increasing the value of Sunny Delight Beverages and to the City of Littleton,” says Greg Johnson.
About Odyssey Real Estate Capital
Odyssey is a commercial real estate investment and advisory firm with offices in Las Vegas and Kansas City. Our mission is to deliver quality commercial facilities and superb service to tenants and to build wealth for our investors. Odyssey teams up with institutional real estate investment funds to acquire, develop, operate, improve and sell commercial properties. We target deals where our unique knowledge, experience, and relationships create value for our JV partners. Our three principals have over 60 years of experience within the nation’s largest investment banking and real estate operating and brokerage companies including Goldman Sachs, Morgan Stanley, Weingarten Realty, Trammell Crow Company and Colliers International. http://www.odysseyrecap.com
About Gordon Brothers
Gordon Brothers Group works closely with companies of all sizes across sectors to monetize under-performing and obsolete commercial and industrial assets at any point along the supply chain. This encompasses raw materials for extraction and harvesting, raw materials for processing and manufacturing, machinery and equipment, as well as finished goods. Gordon Brothers has a strong track record for maximizing the value of machinery and equipment and brings an unprecedented combination of marketing, financial, legal and operational expertise to a variety of disposition formats.
About New Mill Capital
New Mill Capital’s forte is providing “comprehensive asset solutions for the industrial marketplace”. Primary services include turnkey acquisitions of closed industrial plants, value-added equipment liquidation and monetization, webcast and online auctions, and traditional sales transactions. NMC has acquired over 10,000,000 square feet of plants since 2011 and has conducted auctions and/or liquidations for industries ranging from food processing and packaging to steel, semiconductor, cosmetics and textiles.