SeedAmerica Acquires Coleman, WI Building
SeedAmerica acquires former Seneca Foods building using the 561 Exchange.
Alpharetta, GA, April 12, 2008 --(PR.com)-- SeedAmerica Founder and CEO Joseph Johnson today announced the closing of a property acquisition in Coleman, WI. Upon acquisition, SeedAmerica takes a long-term ownership approach and will actively seek entrepreneurs to lease business space, in a community revitalization effort.
"We are excited about the acquisition of this property,” said Johnson “Given the accessible location to Green Bay, Milwaukee and Madison, the business possibilities for this facility are promising.”
The 118,388 square foot canning manufacturing building, sitting on 36 acres, is located at 131 Katherine St. in Coleman. The building was the former site of Seneca Foods, a world leader in food products and Agribusiness. The village of Coleman was left without a major employer after the close of N.E.W. Plastics and Seneca Foods’ vegetable canning operations. These two closings resulted in a loss of approximately 75 jobs.
"The needs of the community of Coleman will be an important part of SeedAmerica’s efforts in the development and leasing of this building,” said Chris Zimmerman, President of Asset Management for SeedAmerica. “As with all of our acquisitions, we will continue to gather feedback from the community and are looking forward to the many opportunities that lie ahead,” he added.
ConAgra Foods, FMC Technologies, Essex Electric, the Pritzker family (owner of the Hyatt Hotels) AAF McQuay, GEM, Murray Corporation and Quebecor World are just some of the companies who have completed property transfers using the 561 Exchange through SeedAmerica.
About SeedAmerica
SeedAmerica is a national real estate endowment fund, focused on acquiring and managing commercial real estate assets. SeedAmerica is a nonprofit, 501(c)3, organization with millions of square feet of commercial real estate space that has helped revitalize communities, and assist entrepreneurs move into affordable real estate. For more information on SeedAmerica, visit their website at www.seedamerica.com.
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"We are excited about the acquisition of this property,” said Johnson “Given the accessible location to Green Bay, Milwaukee and Madison, the business possibilities for this facility are promising.”
The 118,388 square foot canning manufacturing building, sitting on 36 acres, is located at 131 Katherine St. in Coleman. The building was the former site of Seneca Foods, a world leader in food products and Agribusiness. The village of Coleman was left without a major employer after the close of N.E.W. Plastics and Seneca Foods’ vegetable canning operations. These two closings resulted in a loss of approximately 75 jobs.
"The needs of the community of Coleman will be an important part of SeedAmerica’s efforts in the development and leasing of this building,” said Chris Zimmerman, President of Asset Management for SeedAmerica. “As with all of our acquisitions, we will continue to gather feedback from the community and are looking forward to the many opportunities that lie ahead,” he added.
ConAgra Foods, FMC Technologies, Essex Electric, the Pritzker family (owner of the Hyatt Hotels) AAF McQuay, GEM, Murray Corporation and Quebecor World are just some of the companies who have completed property transfers using the 561 Exchange through SeedAmerica.
About SeedAmerica
SeedAmerica is a national real estate endowment fund, focused on acquiring and managing commercial real estate assets. SeedAmerica is a nonprofit, 501(c)3, organization with millions of square feet of commercial real estate space that has helped revitalize communities, and assist entrepreneurs move into affordable real estate. For more information on SeedAmerica, visit their website at www.seedamerica.com.
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Contact
SeedAmerica
Karen Buckley Washington
678-762-1737
www.seedamerica.com
Karen Buckley Washington
678-762-1737
www.seedamerica.com
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