- What PepsiCo is looking to sell three Ontario bottling plants
- Why They are being offered vacant upon closing
- What next Cresa has the assignment
PepsiCo Inc. is looking to offload a trio of bottling plants across Ontario for a combined $10m, Green Street News can reveal.
Cresa has the assignment for the warehouses, which will be delivered vacant upon closing. The valuation for the 87,000 sq ft portfolio is $115/sq ft.
Guidance for 333 Gosfield Townline West, in Essex, is in the mid-$5m range. The 49,000 sq ft warehouse has seven internal truck-level doors. On over 5 acres, the property offers excess land and trailer parking. It’s 10km from Highway 401, 17km from Windsor International Airport and 27km from Ambassador Bridge.
In Owen Sound, 925 Seventh Street East is on the block for $2.1m. The 19,000 sq ft warehouse has two truck-level doors, three drive-in doors and one garage door. The clear height ranges from 16 to 18 ft throughout the property. It’s on nearly 3 acres and includes excess land. It’s 600m from Highway 6 and 12km from Highway 10.
Also on the block is 430 Industrial Park Crescent in Sault Ste. Marie, which has been floated for $2.4m. On over 2 acres, the 19,000 sq ft property has two truck-level doors and two drive-in doors. It’s 350m from the Trans-Canada Highway and 5km from the Sault Ste. Marie International Bridge.
Earlier this year, BlueTriton Brands sold a former Nestlé bottling facility, at 85-101 Brock Road South in Puslinch, Ont., to White Wolf Capital Group for $61.2m. The plant sits on 94 acres, 42 of which are usable.
PepsiCo is a food and beverage corporation headquartered in New York. Helmed by chief executive and chair Ramon Laguarta, the company reported over US$101bn in assets in the first quarter.
