Broadstone Net Lease, Inc. recently bought the Hess Wine production, warehouse and distribution facility in American Canyon.
Broadstone acquired the 284,000-square-foot facility that is temperature-controlled and features a wastewater treatment plant on April 27 for $27.8 million. The property is net leased to the Hess Collection Winery for an initial 20-year term. The Hess Collection Winery produces 25 wines under the Hess label and other brands.
“We are very excited to have acquired such a high-quality property in this market,” said Amy Tait, CEO of Broadstone. “We are delighted to have Hess as a tenant.”
Broadstone Net Lease, Inc. is a private Real Estate Investment Trust (REIT) that invests in freestanding, single-tenant, net-leased properties. The Broadstone portfolio includes 117 properties in 23 states. It is currently targeting acquisitions in the $5 million to $30 million range, a news release said.
source : napavalleyregister.com
