SASCO represented the buyer in the acquisition of two specialized manufacturing facilities in Dallas, TX. SASCO located the property on behalf of its client and negotiated the acquisition of the buildings, land and manufacturing assets out of bankruptcy. SASCO arranged for the close of the property and the simultaneous sale of the excess equipment to a third party. The buyer completed a major reconstruction of the properties, investing $100 million for the completion of the 500,000 square foot, state-of-the-art LEED-certified processing facility pictured here.
Since completion of the facility in 2012, SASCO has represented the owner in acquisitions of adjacent properties totaling 18 acres for current and future expansion.
Dean Foods Company anticipated the potential closure of its Oak Farms facility near the Trinity River Corridor in Dallas, Texas and asked SASCO to assess the opportunity and the timing of a potential sale of the property. Over a year period, SASCO confidentially marketed the 15.52-acre site and negotiated the sale to a group of investors planning a major mixed-use redevelopment. SASCO secured a two-year sale/leaseback of the property to enable Dean Foods to continue its operations and plan an orderly transition of its operations.
“Over the years, we have grown to trust SASCO to advise us on the right calls at the right time. The sale of our Oak Farms facility was a great example of their judgment and market knowledge – they were able to time and structure the sale to bring us the best value together with the flexibility we needed to manage our operations.”
Greg Tanner – CEO, Dean Foods Company
Clients frequently ask SASCO to assemble multiple properties over a period of time in anticipation of their future needs.
For example, Oak Farms Houston anticipated the need to renovate and expand its manufacturing and distribution facility in Houston, Texas. However, its location in inner-city Houston, surrounded by multiple residential land owners, made expansion a challenge.
Over the next 6 years, SASCO was able to acquire over 50 parcels of land on behalf of the client, ultimately assembling over 22 acres of additional land surrounding the original plant. As a result, Oak Farms Houston was able to undertake a major expansion of its facility, resulting in more efficient processing and distribution capabilities. The expanded facility, totaling 164,210 square feet and pictured at the left, was completed in 2012.
When Cienda Partners acquired the Oak Farms property in the Trinity River Corridor in Dallas, TX, they saw first hand SASCO’s capabilities representing the seller of the property. Following that transaction, when Cienda Partners saw the opportunity to assemble adjacent properties in this high potential corridor near the Central Business District, they asked SASCO to join their team. SASCO assisted Cienda Partners in its acquisition of an additional 15.88 acres, resulting in a total of 31.42 acres of land. This land is now under planning for use as a mid-rise commercial and residential development.
