STREAM Capital Partners has arranged the sale and leaseback of two cold storage, food-production facilities in Dallas and San Antonio. The properties total 187,000 square feet.
Chelsea Mandel of STREAM Capital Partners represented the seller in the transaction. The facilities are occupied by Surlean Foods, a leading custom food manufacturer of both raw proteins and cooked kettle items. Founded in 1979, the company is a third-generation, family-owned business.
“Chelsea and her team did a great job,” said Daryl Scott, president of Surlean Foods. “This transaction provides additional capital allowing us to continue reinvestment into our business that has seen tremendous growth over the last 12 months.”
Mandel has been very active in the cold storage sector and sees tremendous investor appetite for freezer/cooler, food-related facilities. She expects this trend to continue throughout 2021.
“This was a terrific transaction to lead,” Mandel said. “My client now has a real estate partner to help facilitate the business’s growth, and the buyer added to its portfolio two high-quality, cold storage assets in growing industrial markets leased on a long-term basis to a premier tenant in the food manufacturing space.”