Gladstone Commercial Corporation buys Iowa bottling plant
Gladstone Commercial Corporation has bought a bottling plant in Iowa.
Gladstone Commercial Corporation could have used international business negotiation techniques during its recently-announced acquisition of a property in Iowa.
The firm has bought a bottling plant in Ottumwa, with the 352,860 sq ft of real estate purchased for $7.1 million (£4.56 million).
It will lease this structure to The American Bottling Company (ABC), which has guaranteed the let.
This firm is the Dr Pepper Snapple Group's largest operating subsidiary, distributing non-carbonated and carbonate drinks throughout the US on its behalf.
Gladstone Commercial Corporation managing director responsible for the deal Buzz Cooper said: "We are excited to add another mission-critical facility leased to a strong tenant like ABC to our portfolio."
He pointed out the deal "adds another high quality tenant and valuable real estate property" to the firm's holdings.
In the first quarter of 2012, Gladstone Commercial Corporation revealed it owned a total of 7.1 million sq ft of real estate to rent across 73 properties.
Posted by Ron Maverick
Source: Gladstone press release, June 4th