In one of Arizona’s largest industrial sale-leaseback transactions for 2012, an investment team at Cushman & Wakefield of Arizona led by Chris Toci, Chad Littell, and Jim Wilson, negotiated a $76M disposition and leaseback of three facilities on behalf of its client, Hensley & Company.
Hensley & Company, a 57-year-old Arizona corporation, is the fourth-largest distributor of Anheuser-Busch (A-B) products in the nation.
The transaction entailed disposition and long-term leaseback of the company’s three refrigerated warehouse and distribution facilities totaling 577,167 SF. The properties are at 4201 N. 45th Ave. in Phoenix, 2555 N. Nevada St. in Chandler, and 10201 E. Valley Rd. in Prescott Valley.
As part of the transaction, Hensley & Co. will occupy the three properties. The firm will continue to utilize the refrigerated facilities to annually distribute over 20 million cases of beverages throughout Arizona
Angelo, Gordon & Co.’s (AGNL) net lease division purchased the properties and will serve as landlord to Hensley & Company. Headquartered in New York City, Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and manages approximately $25B.
“We felt timing for a transaction of this type was good in order to capitalize on outstanding market conditions,” said Hensley & Co. CFO Andy McCain.
“This transaction is but one example of how our real estate professionals optimally position and market industrial and commercial assets, extracting maximum value for our clients,” said Tom Johnston, Senior Managing Director of Cushman & Wakefield of Arizona, Inc. “Chris Toci, Chad Littell, and Jim Wilson provided Hensley & Co. creative and tax-advantaged solutions within an extremely tight time frame drawing on the full array of Cushman & Wakefield’s globally recognized platform and capabilities.”