Milwaukee Business News, Wednesday August 1, 2018
Southern half of South Milwaukee Caterpillar site sold for $13.5 million
Reich Brothers completes planned acquisition
A large portion of the Caterpillar Inc. campus in South Milwaukee was sold Tuesday to Reich Brothers Holdings LLC for $13.5 million.
The White Plains, New York-based firm told BizTimes in June that it planned to acquire the 32.5-acre southern portion of the industrial campus from Great Neck, New York-based One Liberty Properties Inc. The eight-building campus at 1022 and 1100 Milwaukee Ave. totals 750,300 square feet.
“Reich brothers specializes in the purchase of intact manufacturing facilities and specifically industrial campuses, so this checked all the boxes in terms of our investment criteria,” said Michael Reich, co-director of business development and acquisitions at Reich Brothers. “We typically buy distressed properties in former campuses and our goal typically, especially in this situation, is to revitalize the campus and bring new life to the downtown South Milwaukee area”…
Milwaukee Business Journal, Wednesday August 1, 2018
Former Bucyrus campus in South Milwaukee sold, revitalization planned
Milwaukee Business News,, Wednesday August 01, 2018
Reich Brothers plans to buy southern half of Caterpillar campus in South Milwaukee
New York-based firm also bought former Oscar Mayer plant in Madison
A New York-based company specializing in acquiring closed factories and redeveloping them has a large portion of the Caterpillar campus in South Milwaukee under contract to purchase.
Reich Brothers Holdings, LLC plans to buy the 32.5-acre site, the southern portion of the Caterpillar campus in South Milwaukee, from Great Neck, New York-based One Liberty Properties Inc. for an undisclosed price within the next few weeks, said Michael Reich, vice president and director of acquisitions and business development…
Bensenville, Illinois (PRWEB) JULY 31, 2018
Aaron Equipment Company Announces Bidding Close Date for Biofuels Plant Liquidation Sale
On May 7, 2018, Aaron Equipment Company, on behalf of Tenaska Commodities, LLC, opened bidding on the assets of a Clinton, Iowa biodiesel plant. The auction has been taking place in conjunction with Reich Brothers, LLC, which specializes in complex asset dispositions and liquidity enhancements for companies undergoing structural changes. The sale marks Aaron Equipment Company’s second biofuels liquation this year and bidding is now in the homestretch. Interested buyers have until 5:00 p.m. Pacific Standard Time this upcoming Friday, August 3, 2018, to get in their bids. An asset purchase and sales agreement can be downloaded from Aaron Equipment’s website…
Milwaukee Business Journal, Wednesday June 19, 2018
Caterpillar’s soon-to-be-vacant South Milwaukee complex being sold to New York company
Wisconsin State Journal, June 8, 2018
Former Oscar Mayer offices come back to life
The former Oscar Mayer complex has its first occupants — at least, for now.
About 80 employees of TASC — Total Administrative Services Corp. — began working Monday in a small portion of the nine-story office building at 910 Mayer Ave. that housed Oscar Mayer’s headquarters for nearly 60 years.
TASC is renting 13,000 square feet of office space for one year, with options to renew, TASC spokesman Bruce Stein said…
Columbus, Ohio WSYX/WTTE, April 28, 2018
Realty company gets jump start on marketing former Columbus Castings site
The current owners of the former Columbus Castings property in south Columbus aren’t wasting time marketing the 77-acre parcel along Parsons Avenue.
For lease signs from commercial realty company CBRE began popping up in the past few days at the former steel foundry site.
Jon Reich, of Reich Brothers, who bought the property when Columbus Castings closed, said Monday even though demolition and EPA testing could take a year to complete, he’s optimistic.
Southside Area Commission member Curtis Davis agrees.
“Now’s the time to start having those conversations on land acquisition and buildings and design,” Davis said while visiting the abandoned site Monday.
Portland Business Journal, Mar 27, 2018
Reich Brothers Announces Purchase of State-of-the-Art Panasonic Manufacturing Facility in Salem, OR
This former Panasonic Class-A Manufacturing/Warehouse facility will be repurposed to generate jobs and stimulate the Salem, OR economy
NEW YORK and LOS ANGELES and CHICAGO, March 27, 2018 /PRNewswire/ — Reich Brothers is pleased to announce the acquisition of a state-of-the-art 129,850 square foot , production and warehouse facility located on 19.66-acres in Salem, OR. The facility was constructed in 2009 by Sanyo Solar, a subsidiary of Panasonic Corporation, for roughly $80,000,000 and was designed to manufacture silicon ingots for solar power cells…
Salem Statesman Journal, March 15, 2018
Former Panasonic solar plant in Salem sells to New York firm for $7.7 million
In a deal that closed this week, Japanese electronics company Panasonic Corp. sold the property at 5475 Gaffin Road SE to White Plains, New York-based Reich Brothers Holdings.
The sale price was $7.7 million, Marion County records show.
Curt Arthur, managing director of SVN Commercial Advisors, said Salem’s industrial vacancy rate is below 2 percent, illustrating a clear need for more manufacturing space at a time when demand is far surpassing the supply of available buildings…
Equipment Finance Advisor, February 05, 2018
Reich Brothers Closes Capital Lease for Dry Van Trailers
Reich Brothers Business Solutions, LLC (“RBBS”) closed a $1.28MM capital lease facility backed by dry van trailers for a Texas-based regional trucking company operating out of terminals in Dallas, TX, Oklahoma City, OK, and Denver, CO. RBBS has extensive experience with tractor trailer fleets and was brought into the transaction by a company advisor due its responsiveness and ability to meet the lessee’s structural considerations. Due to the success in funding the initial equipment schedule, RBBS is currently working with the company to structure a $2.7MM capital lease for another group of trailers in the company’s fleet…
WMTV Madison WI, November 6, 2017
Exclusive interview with new owners of Oscar Mayer property
Reich Brothers and Rabin Worldwide purchased the 72 acre site on October 18. They’re in town this week for meetings with government and community stakeholders.
“This project has been a year in the making,” says Shira Weissman, COO and general counsel of Rabin Worldwide, “There’s been a lot of work on the front end. We have big power, big water, big sewer, but making sure those are going to be accessible for all of the buildings on site is the work we’ve been doing.”
“There really is so much to do. We have 60,000 square feet of industrial space over there. That space we can in effect lease out tomorrow,” explains Marc Esrig, Senior Vice President of real estate development with Reich Brothers, “We have this beautiful warehouse space, about 143,000 square feet that we effectively have to re-engineer part of it”…
Monitor Daily, October 26, 2017
Reich Brothers Closes $2.6MM Lease for Textile Manufacturing Equipment
Reich Brothers Business Solutions partnered with another lender to close a $2.6 million capital lease facility backed by the textile manufacturing equipment of a North Carolina-based manufacturer of dobby and jacquard fabrics for upholstery, bedding, wall covering and drapery applications…
Wisconsin State Journal, October 11, 2017
Reich Brothers says it will buy shuttered Oscar Mayer property
Reich Brothers Holdings, a company that buys shuttered factories and sells their assets, says it has agreed to purchase the former Oscar Mayer headquarters and hopes to bring manufacturing back to the East Side site.
The transaction is expected to close at the end of October, said co-CEO Adam Reich.
“We firmly believe anything we do with the property should be in concert with local and state officials, with the infrastructure, the economy and with the job base,” Reich told the Wisconsin State Journal. “We are looking to do something that’s going to attract jobs.”
WISC TV Madison, October 11, 2017
Reich Brothers Holdings agrees to buy Oscar Mayer plant
MADISON, Wis. – Reich Brothers Holdings, a company that buys and repurposes old manufacturing plants, has agreed to buy the Oscar Mayer plant on Madison’s northeast side.
Madison Mayor Paul Soglin said he expects the new ownership will bring 600 to 3,000 jobs to the area…