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12/16/13
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Hackman Capital Partners LLC wrapped up a major NoCal industrial buy, having just acquired the 1.63 msf former Campbell Soup Company’s manufacturing facility in Sacramento. Hackman Capital partnered with Rabin Worldwide and Capital Recovery Group to acquire both the real estate and equipment assets in a bulk purchase. It was sold by the Campbell Soup Company. The price was not disclosed.
Located at 6200 Franklin Blvd, the facility is situated 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.
The buyers have already leased over 200k sf 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.
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. 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.
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