US: Broadstone acquires California wine facility for $27.8 million
US: Broadstone acquires California wine facility for $27.8 million
Apr 30, 2012 6
(RBJ) - Rochester-based Broadstone Real Estate LLC on Monday said Broadstone Net Lease Inc. has acquired a major wine facility in California for $27.8 million.
The Hess Wine production, distribution and warehouse facility is 284,000 square feet and located in California’s Napa County, one of the world’s leading regions for the wine industry.
The facility is net leased to the Hess Collection Winery for an initial term of 20 years. The winery produces more than 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 Net Lease, in a statement. “This acquisition adds further diversification to the BNL portfolio and we are delighted to have Hess as a tenant.”
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