An aerial view including 100 Raskulinecz Road in Carteret — Courtesy: CBRE
By Joshua Burd
A food production and distribution facility in Carteret has changed hands as part of a two-state, three-building sale-leaseback transaction announced Wednesday by CBRE.
In a news release, CBRE said it represented a Michigan-based company in the sale of the 139,713-square-foot portfolio. The buildings include a roughly 71,000-square-foot building at 100 Raskulinecz Road in Carteret, along with 9121 Utica Ave. and 10888 7th St. in Rancho Cucamonga, California.
The portfolio is fully leased to Aquamar Holdings, a newly formed platform in the surimi seafood market, the news release said. Andrew Sandquist, JC Asensio and Briggs Goldberg of CBRE Corporate Capital Markets represented the seller in the transaction, while identifying the buyer as a New York-based public real estate investment trust.
The sale closed in early August.
“This was a highly coordinated and complex transaction given our compressed timeframe to execute the sale and leaseback,” Asensio said. “The strong interest in the offering further evidences the robust demand for industrial investments in core-plus submarkets serving gateway cities like Los Angeles and New York City.
All three properties are industrial food-grade production and distribution facilities with a freezer-cooler component, CBRE said. Aquamar Holdings is a manufacturer of a wide variety of surimi seafood products, producing and selling crab-flavored seafood to food service, food manufacturing and retail channels primarily in North America.
