Chiquita Buys Dallas-Fort Worth Facility for $19.5 Million
CHARLOTTE, NC – As the company looks to remain a lasting presence in the Dallas-Fort Worth area, Chiquita Brands International has announced that it is buying a refrigerated facility for $19.5 million in Grand Prairie, TX.
"This institutional grade industrial asset combined outstanding functionality with an incredible opportunity for the tenant to expand the building footprint in one of the strongest sub-markets in the country, Dallas-Fort Worth," said Marc Bonilla in a statement. Bonilla is an Executive at Colliers International's Phoenix office, a company office who represented both the buyer and seller in the deal.
The 113,000-square-foot industrial warehouse is already 100 percent occupied by Chiquita Brands and its subsidiary, Fresh Express, as Chiquita previously leased the warehouse for its operations. The companies currently distribute bananas, salads, and snack fruits from the location.
"This was a strategic purchase on behalf of the tenant — Chiquita Brands International Inc.," Bonilla continued, according to the Dallas Business Journal. Bonilla also stated that Chiquita intends to "create the largest premier and sustainable fresh produce platform in the industry," after being previously acquired for $1.27 billion by an affiliate of Cavendish Acquisition Corp.
Chiquita purchased the refrigerated facility from Rose FP LLC, a Chicago-based company. Chiquita currently reports an annual revenue of more than $3 billion, according to the Dallas Business Journal, and employs more than 21,000 people.
AndNowUKnow will continue to have the latest in this sizable announcement by the company, and its impact on the Texas market.