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February 24, 2024
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PACIFIC NORTHWEST NEWS
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Washington Food Processing Plant Sells for $19.5 Mil

3/22/23

No Meat Factory, a Canadian manufacturer of plant-based meat alternative products, purchased the 196k sf, Stanwood food processing plant in Stanwood, WA. The property was sold by Twin City Foods in a $19.5 mil transaction.

Located at 10120 269th Place NW in Stanwood, the facility will serve as No Meat Factory’s first U.S.-based food processing operations. The property was built in 1997 with freezer storage, dock-high and grade-level access, as well as office, lab and kitchen areas.

Steven Brunette, Noah Roehl, Andrew Stark, Andrew Hitchcock and Harry Ghag of CBRE represented both parties in the deal.

“Twin City Foods kept the food processing plant well-maintained and highly functional for over 25 years. Its proximity to Everett and major highways aligned well with No Meat Factory’s needs and will help them meet the growing demand for their products in the U.S.,” added Roehl, senior advisor, CBRE.

The Puget Sound industrial market recorded a 4% vacancy rate in the fourth quarter of last year, according to CBRE research. Scarcity of available land around the ports of Tacoma and Seattle has pushed developments to the north and south ends of the region. The Northend has over 1.6 msf under construction and more than 9 msf in the planning stage as more tenants move further north.





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