Search
 

Beverage Plant Sells for $5M to Local Buyer

NASHUA, NH-American Beverage Corp.'s bottling plant will be retrofitted to produce coatings and adhesives now that the facility has been sold to local buyer Worthen Industries.

By Beverly Ford | Updated on January 05, 2007

(To read more on the industrial market, click here.)

NASHUA, NH-After 15 years as a beverage production plant, American Beverage Corp. has sold off its facility here for $4.9 million to local buyer Worthen Industries. The new owner plans to retro-fit the building for its coating and adhesive operation.

Tom Farrelly, with Cushman & Wakefield’s Manchester office, tells GlobeSt.com that the148,100-sf building at 34 Cellu Dr. brought in at least seven offers but it was Worthen’s high-priced bid and quick closing terms that sealed the deal. The plant has served as a beverage manufacturing facility for 15 years and was used by American Beverage, which acquired the property in 1999, to produce soft drinks, juices and bottled water. American Beverage, part of the multibillion-dollar Dutch food group Royal Wessanen and the third largest US producer of non-carbonated bottled fruit drinks, sold the Nashua plant as surplus real estate following a consolidation of operations, he says. The transaction was handled for the seller by Farrelly along with Dennis Dancoes and Sue Ann Johnson, also with Cushman & Wakefield in Manchester. Worthen was represented by James Stubblebine, with the Stubblebine Co., of Lexington, MA.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.