Cushman & Wakefield Arranges $60.3M Sale-Leaseback for National Industrial Portfolio
RICHMOND, VA. — Cushman & Wakefield has arranged the $60.3 million sale-leaseback of a seven-property national industrial portfolio on behalf of owner and seller The C.F. Sauer Co. The seven properties total 791,000 square feet. There are four buildings in Mauldin, S.C.; one in Orange, Fla.; one in San Luis Obispo, Calif.; and one in New Century, Kan. Ben Cooper, Larry Wilks, Keith Bell and Ben Pugh of Cushman & Wakefield represented Richmond-based C.F. Sauer, which is now controlled by the private equity partnership Falfurrias Capital Partners and operates as Sauer Brands. A public REIT acquired six of the properties while a separate public REIT purchased the remaining building. Sauer Brands manufactures a broad line of flavor-enhancing condiments, spices, seasonings and extracts, including well-known brands Duke’s Mayonnaise, The Spice Hunter, Sauer’s, Gold Medal and BAMA.