Sacramento, CA (PRWEB) December 11, 2013
Los Angeles-based real estate investment firm Hackman Capital Partners, LLC, announced today the purchase of the former Campbell Soup Company’s manufacturing facility in Sacramento, CA. Hackman Capital partnered with Rabin Worldwide and Capital Recovery Group to acquire both the real estate and equipment assets in a bulk purchase.
The facility boasts a highly improved 1,625,129 square foot building on 129 acres of land with valuable energy, water, sewer and emissions permits. The site is currently permitted and licensed for sewer disposal credits, air permits, water wells, and a solar farm, making the infrastructure capacity at this facility unmatched within the market. Featuring its own water wells, the site is able to process approximately 2 billion gallons of water per year.
“With its substantial water and sewer capacity, this site provides an exceptional opportunity for manufacturing and process users who require these unique and valuable amenities,” said Michael Hackman, Founder and Chief Executive Officer of Hackman Capital Partners. “We look forward to working with Sacramento County and the local community to lease the buildings and develop the surplus land.”
While this site has been utilized for food processing in the past, the site will attract a diversity of tenants due to its size, cold storage capabilities, cogeneration plant and groundwater rights. Users could include food/agriculture, clean energy technology and advanced manufacturing companies among others. Sacramento County has worked closely with the investment group from the early stages of the acquisition process with the goal of bringing good jobs back to the area.
“We are pleased that this important site in the South Sacramento community has a new owner,” said Susan Peters, Chair of the Sacramento County Board of Supervisors. “We look forward to working with Hackman Capital Partners on their plans to improve the property and bring high quality jobs back to the neighborhood.”
The Joint Venture has already leased over 200,000 square feet of the facility to Silgan Can Manufacturing. Silgan is the leading manufacturer of metal containers in North America and Europe and holds about 50% of the U.S. market share with major customers including Campbell Soup Company, Del Monte Foods Company, and Hormel Foods. The firm has operated within the building for the past 10 years.
“We are thrilled that Silgan will continue their operations at the site, and we look forward to attracting additional tenants,” said Hackman. “We are grateful to Sacramento County for their support during this acquisition and are eager to put this site to the best economic use possible.”
Hackman Capital Partners, Rabin Worldwide and Capital Recovery Group have partnered on numerous transactions involving the acquisition of complete facilities with both real estate and equipment assets. The CBRE team of Todd Sanfilippo, Walter Smyth, Jon Sarkisian and Jeff Counsell marketed the property on behalf of Campbell’s and worked directly with the investment group on the closing.
More about Hackman Capital Partners, LLC.
Founded in 1986 and headquartered in Los Angeles, Hackman Capital Partners is a privately held, asset-based investment firm that focuses on the acquisition of industrial real estate and the purchase and sale of industrial equipment. The firm currently owns, through its affiliated entities, more than 270 facilities throughout the United States, totaling approximately 25 million square feet and more than 10,000 acres of land. Hackman Capital Partners also has conducted hundreds of equipment acquisitions, dispositions, and liquidations on four continents. With more than 27 years of experience in acquisition, redevelopment, and asset management, Hackman Capital Partners is known across marketplaces for its ability to successfully navigate complex transactions and financial restructurings involving real estate and equipment. For more information, visit http://www.hackmancapital.com.
More about Capital Recovery Group
Capital Recovery Group, LLC ("CRG"), headquartered in Enfield CT, is a global asset and disposition expert specializing in complex manufacturing facilities. Our signature business is assuming financial positions in the facility assets for either their reposition in a more competitive structure by utilizing equity or debt financing, or managing their disposition process. CRG enjoys an exemplary reputation with Fortune 500 Companies, private equity firms, and investment bankers.For additional information please visit http://www.crgauction.com.
More about Rabin Worldwide
About Rabin Worldwide - Based in San Francisco, Rabin Worldwide is an international auctioneer and valuation specialist of industrial plants and equipment. With over 60 years of experience in every sector of the industrial community, Rabin's signature business is assuming financial positions in the liquidation and/or valuation of complete factories and real estate. Rabin's proprietary database of buyers and patented software for selling assets maximizes value for both sellers and buyers. For more
information, visit us at http://www.rabin.com.