Ascension Advisory successfully closed a sale leaseback transaction on behalf of Nicks Famous Bar-B-Q, a premier producer of high-quality, USDA-certified smoked pulled pork and barbecue products. Founded in 1990, Nick’s has become a Nashville institution, known for its commitment to exceptional flavor, consistency, and natural ingredients.
Client Objective:
Nicks Famous Bar-B-Q sought to unlock the value of its mission-critical food production facility in Nashville to generate proceeds to pay down debt and reinvest into the operating business. The company was looking to enhance its operations and expand its product lines in order to meet growing market demand.
Solution:
Ascension conducted a rigorous marketing process to identify a suitable buyer for the property. Leveraging its robust investor network of institutional and private investors, the team secured a local buyer with deep knowledge of the Nashville market who recognized the strategic importance of the facility. The property’s location was a key factor, situated just 10 minutes from downtown Nashville in a thriving barbecue and culinary hotspot. The buyer, motivated by the opportunity to complete their 1031 exchange, submitted a competitive offer, and delivered a smooth and efficient close.
Conclusion:
The sale leaseback enabled the company to monetize its real estate and generate accretive financing that it could use to reinvest into various growth initiatives. Positioned in an attractive location and market, the property offered the buyer a valuable income-producing asset in a high-demand location. Nick’s is poised to continue delighting customers and solidifying its reputation as a leader in the barbecue industry.
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