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Gordon Food buys
Albertson's facility
BUYER: Plant City 2009 LLC (Pinnacle Real Estate Inc.), Grand Rapids, Mich.
SELLER: ABS FLA Investor LLC
PROPERTY: 1402 Albertson's Drive, Plant City
PRICE: $31.5 million
PREVIOUS PRICE: $44.39 million, June 2006
LAW FIRM ON DEED: Greenberg Traurig LLP, Chicago
PLANS, DESCRIPTION: Grand Rapids, Mich.-based food distributor Gordon Food Service purchased the 952,441-square-foot Albertson's distribution center on 158 acres west of Jim Johnson Road near the James L Redman Parkway for $31.5 million. The purchase price equated to $33 per square foot. The company already has distribution facilities in Miami and Ocala and another nine nationwide. It expects to open a new distribution center in Kenosha, Wis., in March.
The new ownership plans to replace the roof, upgrade the refrigeration controls and make infrastructure improvements for the information technology system.
“This facility is in a prime location to support our rapid growth in Florida,” Gordon Food Service President Jim Gordon said in a press release. “We expect to begin shipping to our customers in central Florida from Plant City in the fall of 2010.”
Gordon Food Service entered the Florida market in 2003 with the purchase of Smart & Final Inc.'s Florida foodservice direct delivery and store businesses. Gordon Food Service provides food to restaurants, hospitals, nursing homes, schools, colleges and cruise ships.
The new distribution facility positions the company to grow its GFS Marketplace grocery stores chain in Florida. Gordon Food Service operates 132 GFS Marketplace grocery stores nationwide, including nine in Florida. It already has GFS stores in Brandon, Clearwater, Fort Myers and St. Petersburg and plans to open stores in north Tampa and Bradenton later this year.
Gordon Food Service is North America's largest family-owned broadline foodservice distributor.
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