Northmarq arranges the sale leaseback of Kentucky cold storage and meat processing facility for $5 million

Cold Storage/Meat Processing Facility
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CHICAGO, ILLINOIS (January 9, 2023) — Northmarq’s Josh Dicker, senior investment sales analyst with sale leaseback expertise, and Isaiah Harf, managing director, arranged the sale leaseback of a 28,000 sq. ft., cold storage and meat processing facility located at 117 Masonic Drive in Princeton, Kentucky. Dicker and Harf represented the seller, Porter Road Butcher, which executed a long-term triple net lease at the time of sale. The buyer, a California-based private investor, acquired the asset for $5 million.

“The sale leaseback transaction was not only an investment in Porter Road’s unique real estate, but also an investment in their business and what they are trying to accomplish as an innovator in the direct-to-consumer butcher business,” said Dicker, a sale leaseback expert. “The deal represented a win for not only buyer and seller, but the local Princeton community in which Porter Road operates.”

Founded by two former chefs, Porter Road is a growing direct-to-consumer butcher service that sources their meat from local farms in Kentucky and Tennessee. The property was completely retrofitted in 2021 and converted to the state-of-the-art freezer/cooler and meat processing facility. Situated near multiple major highways, the facility is conveniently located an hour and 30 minutes from downtown Nashville and close to the company’s meat suppliers. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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