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Winn-Dixie Raises $100M in Warehouse Sale

JACKSONVILLE, Fla. — Winn-Dixie has raised nearly $100 million from the sale of a warehouse in nearby Baldwin, Fla., the company said.

Jon Springer, Executive Editor

May 3, 2013

1 Min Read
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JACKSONVILLE, Fla. — Winn-Dixie has raised nearly $100 million from the sale of a warehouse in nearby Baldwin, Fla., the company said.

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A Winn-Dixie spokesman said the chain’s parent, Bi-Lo Holdings, last week completed the sale of the facility to New York-based real estate investor American Realty Capital, which subsequently leased it back to Winn-Dixie.

“We will continue to occupy the Baldwin facility – now through a long-term lease agreement – with no disruption to our business operations,” Brian Wright, a spokesman for Winn-Dixie, said. “Without going into specifics, sale-leasebacks are a common way companies like ours can monetize their assets – in this case buildings and property – and then reinvest that money into other parts of the company.”

Read more: Winn-Dixie to Close 3 Ga. Stores

Prior to this transaction, the Baldwin facility was Winn-Dixie’s only owned distribution facility. The company operates five other distribution centers, all of which are leased. The vast majority of the company’s retail stores are also leased, the company said.

 

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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