Winn-Dixie Sells Distribution Center for Nearly $100 Million
Baldwin, FL
By Eric Anderson
5.6.13
Winn-Dixie has announced that it has sold a distribution warehouse in Baldwin, Florida for nearly $100 million.
The company sold its facility on 200 acres to a limited liability corporation controlled by American Realty Capital of New York for $99,768,500. Winn-Dixie will continue to occupy the building and lease it from American Realty Capital. Business operations will continue as usual.
“Without going into specifics, sale-leasebacks are a common way companies like ours can monetize their assets – in this case buildings and property – and then reinvest that money into other parts of the company,” Wright said, as reported by the Florida Times Union.
The transaction means that Winn-Dixie now leases all six of its distribution facilities, as are most of its retail stores.
