September 16, 2019 – Novaya Foxfield Industrial LLC (Foxfield), the Mid-Atlantic arm of Novaya Real Estate Ventures, leased an additional 186,000 SF to Barry Callebaut at 1001 Industrial Highway, Eddystone, PA, expanding their presence to 395,000 SF.
“We are excited to announce our expanded relationship with Barry Callebaut, and thankful for the collaborative process that led to filling this vacancy for the first time in five years. Foxfield will be spending significant capital upgrading the facility to meet their specifications and increase their efficiency from production to distribution,” notesFoxfield Principal, Jeff Harper.
Barry Callebaut is the world’s leading manufacturer of high-quality chocolate and cocoa products. They are present in one out of four of all chocolate and cocoa products consumed around the world. The group is headquartered in Switzerland and employs nearly 12,000 people operating out of more than 30 countries.
Hugo van der Goes, Barry Callebaut’s VP, Cocoa, North America, explained, “Doubling our Eddystone, PA factory footprint is an important step in our cocoa growth journey. The additional space will enable us to add manufacturing lines for cocoa products and to grow our domestically-produced line of powder & butter.”
Michael Burns, Trevor Ragsdale, and Paul Torosian of JLL represented Barry Callebaut in the transaction.
Novaya Real Estate Ventures (www.novayaventures.com) was founded in 2011 by Jim Alden, Peter Carbone, Jeff Theobald and Scott Tully. To date, Novaya has transacted on over 9 million square feet of industrial, flex, office, residential and urban retail product with gross asset value in excess of $1B in partnership with several of the premier institutional and family office investors worldwide.
About Foxfield Industrial
Foxfield Industrial, a joint venture between Novaya Real Estate Ventures and Foxfield Ventures, is a real estate operating company focused on the acquisition and operation of industrial properties throughout the Mid-Atlantic and the Southeast United States. The partnership aims to provide compelling, absolute investment returns while maintaining a margin of safety.
Foxfield and its affiliates currently manage 3 million SF in existing assets and development projects.
Learn more at Foxfieldindustrial.com or follow Foxfield on Instagram: @foxfieldindustrial, LinkedIn, or Twitter @foxfieldind.