iCORE represents Flowers Foods on the sale leaseback of six distribution facilities
iCORE Commercial, as exclusive corporate real estate provider for Flowers Foods, Inc., has recently completed the sale of six Flowers Foods bakery-distribution/store locations. In alliance with The Net Lease Group, iCORE has helped Flowers achieve their overall corporate finance objectives through this transaction.
The portfolio of six newly constructed, net-leased properties was sold to a single investor as a portfolio. The portfolio was geographically diverse with locations in three states: Florida, Georgia, and North Carolina. At sale, Flowers Foods signed a absolute triple net lease for the entire portfolio.
Flowers Foods is a publicly traded company (NYSE: FLO) with a market cap of $2.69 Billion. Flowers Foods carries an investment grade credit rating (BBB-) as rated by Standard & Poor's. Headquartered in Thomasville, GA, Flowers is a leading producer and marketer of packaged bakery foods in the United States.
The company operates 41 highly efficient bakeries that produce breads, buns, rolls, snack cakes, and pastries, which are distributed fresh to foodservice and retail customers in the Southeastern, Southwestern, and Mid-Atlantic States and frozen to national foodservice and retail customers.
Flowers' top brands include Nature's Own, Whitewheat, Cobblestone Mill, Tastykake, Mrs. Freshley's, European Bakers, BlueBird, and Mi Casa and regional brands that include ButterKrust,Captain John Derst's, Evangeline Maid, and Mary Jane & Friends. Among the company's top regional brands are Sunbeam, Bunny, Mary Jane, Aunt Hattie's, and Holsum.
About iCORE - Our services bring immediate experience and accountability to the management of real estate assets. It is our goal to reduce occupancy costs and accelerate the implementation of business strategies relating to your core real estate assets.