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3/06/15
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An investor group led by Hall Equities Group has acquired a 90k sf industrial building in Walnut Creek. The property, located at 205 Wiget Lane, is used as Del Monte Pacific Limited’s worldwide R&D/manufacturing headquarters facility.
The seller was San Francisco-based Big Heart Pet Brands. Approximately one year ago, in an effort to focus its resources and efforts on its Pet Products business, U.S.-based Del Monte Foods sold its Consumer Products business to Singapore-based Del Monte Pacific Limited (DMPL). Del Monte would subsequently change the name of its standalone pets brand company to Big Heart Pet Brands.
Prior to the sale of 205 Wiget, DMPL inked a new long-term lease with the seller and will continue to operate its consumer business at the facility. Commonly referred to as the Del Monte Research Center, the facility has been utilized by Del Monte Foods and now Del Monte Pacific for nearly 50 years since its development in 1968.
Brooks Pedder and Whiff Collins with DTZ represented both parties in the investment transaction. According to recent news, Big Heart Pet Brands is in process of being acquired by JM Smucker Co.
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