The 20-year sale-leaseback of a frozen-pie manufacturing facility in Rochester, N.Y., provides the seller/tenant with capital for its ongoing expansion.
By Scott Baltic
SatisPie founder Michael Pinkowski purchased the facility from General Mills in 2007, after the latter closed its pie operation. He then formed SatisPie on the existing footprint. Since then, the plant has gone through a major upgrade, a 35 percent expansion and a multimillion-dollar investment in state-of-the-art manufacturing equipment.
MAG was represented by Mary Garnett of Barnes & Thornburg LLP’s Los Angeles office. Luis Ortega and Kent R. Williams of Marcus & Millichap represented the seller, which was also represented by Joseph Taddeo.