In a move signaling its continued growth, Applegate Farms announced it has entered into an agreement to expand its corporate headquarters in Bridgewater, NJ. The New Jersey-based meat company, represented by Consolidated Affiliates, is one of the largest natural and organic food brands in the U.S. With almost $200 million in revenue and 80 employees, the company sells its products in a variety of retail outlets, from small specialty food stores to Whole Foods and large chain supermarkets such as Stop & Shop and A&P. Applegate will now occupy 29,000 square feet in the Bridgewater Towne Center office building located at 750 Route 202. The organic meat company moved its headquarters to Bridgewater in 2003. ” We used to sell 2,000 or 3,000 pounds a week; now, we sell 700,000 pounds a week. We work with 18 co-packing companies, 12 slaughterhouses, and 1,000 farms. We’re not farmers or processors or cookers or retailers. What we do is create the recipes and manage the very complex variables to ensure that everything is done on time and with the highest quality,” said owner Stephen McDonnell.
Performed real estate due diligence and consulting services to assist in the disposition of Piggly Wiggly Carolina Company stores. 30 location were sold in all (22 to Bi-Lo Winn Dixie, 7 to Harris Teeter and 1 to Whole Foods). Consolidated performed real estate and business valuation assessments for the store portfolio, including mapping and market share information. Coordinated all due diligence materials for legal and operational review. Helped in coordination with all closings and transfers to buyers.
Completed sale-leaseback transaction, with proceeds in excess of $16m, for 15 freestanding Lone Star Steakhouse restaurants with Spirit Realty Capital. Locations were spread across 10 states.
COCONUT GROVE, FL
Retained by Deutsche Bank to provide Asset Management Services for foreclosed property. Managed services included:
- Repositioning of property through conversion of 3 story – 250,000-sf retail shopping center to Mixed Use (office, retail and residential) development
- Oversight of Property Management including Leasing, Maintenance and Construction Services.
- Managed $5 million Capital Improvement budget, including major interior renovations and new specialized roof system.
- Managed required zoning and
- Managed and coordinated Tenant Improvement work totaling $2 million .
- Oversaw capital and operating budgets and produce financial modeling.
- Provided Legal Services, including Lease preparation and negotiation, tenant disputes, coordinated litigation with outside counsel and negotiation of all contracts.
- Managed Office and Retail Leasing team
- Developed and executed leasing strategy plans
- Negotiated Lease terms with all potential tenants
- Secured first class tenants such as Sony BMG, Leo Daly, Crispin Porter Bogusky
- Managed extensive repairs and tenant issues from two separate major Hurricane events
- Recipient of 2010 BOMA Building of the Year for Renovated/Repositioned Properties.
- Increased the value of the asset by over $ 13 million, a 56% increase over the banks position
- Successfully managed the sale of the asset including transaction negotiations, Due Diligence and Closing requirements.
Retained by to perform real estate due diligence and consulting services to acquire the Grand Union Company portfolio in bankruptcy. Company sales of $2.1 billion with a portfolio of over 5.8 million square feet, including owned properties and shopping centers covering mid Atlantic and New England markets. Performed real estate and business valuation for over 200 store locations which included competition survey and assessments for store portfolio, including maps and market share information for FTC filing. Coordinated due diligence materials for legal and operational review. Disposed of excess properties, both lease and fee owned. Performed valuation on sublet, administrative and other non-operational assets. Assisted in identifying strategic buyers for individual assets and coordinated production and distribution of marketing packages.
Performed valuation of real estate for the financing and successful acquisition of TRU by Kolberg Kravis Roberts & Co (KKR). Portfolio consisting of more than 315 owned properties in 43 states with over 14 million sq ft of fee owned retail valued fee in excess of $1.32B. Performed store survey and market analysis of all locations.
In April 2009 6 location were acquired from BSMB operating in New York, Connecticut, Virginia, and Maryland. Serve as the outsourced real estate department responsible for demographic and competitive assessments, landlord relations, new store pipeline, CAM & taxes reconciliations and the day to day management of real estate issues.
Serve as the outsourced real estate department for the 25 store chain operating in New Jersey and New York. Responsible for demographic and competitive assessments, landlord relations, new store pipeline, CAM & taxes reconciliations and the day to day management of real estate issues.
Check out the new Bedminster store!
Retained to perform real estate due diligence and consulting services to acquire a portion of the Bruno / BiLo portfolio from Lone Star in 2006. Company sales in excess of $1 billion with a portfolio of over 3.9 million sq ft, including owned properties and shopping centers covering the southeastern United States. Performed real estate and business valuation for over 110 store locations including competition survey and assessments for store portfolio, including maps and market share information. Coordinated due diligence materials for legal and operational review. Conducted site survey and physical assessment of all locations. Performed valuation on sublet, administrative and other non-operational assets. Assisted in the acquisition of 31 Bruno’s locations out of bankruptcy in 2009. Disposed of excess properties, both lease and fee owned. Sold 29 locations with approximately 1.1m sq ft, subleased / assigned 21 locations with approximately 800,000 sq. ft.