Sunny Delight Completes $58 Million Sale Leaseback of Three Bottling Facilities

Commercial Property News - May 30, 2007

Angelo, Gordon & Co., acting through its dedicated Net Lease Group, AG Net Lease, has wrapped up the purchase of three industrial properties through a $58 million sale-leaseback transaction with Sunny Delight Beverages Co. The properties, located in three different states, account for an aggregate 732,000 square feet.

The transaction allows Sunny Delight, which was acquired by private equity firm J.W. Childs Associates L.P. three years ago, to continue utilizing the space for its domestic bottling activities while pocketing--after paying down senior debt--a substantial amount of capital to invest in business growth. The assets involved include a 295,000-square-foot facility in Dayton, N.J.; a 265,000-square-foot property in Atlanta, Ga.; and a 172,000-square-foot property in Anaheim, Calif. Calif. (pictured). Constructed in the late 1970s and early 1980s, all three facilities have undergone recent upgrades. Sphere: Related Content