By Kate Snyder
A recent industrial sale in Snohomish County points to investors’ continued interest in the region. In a sale that closed in February, the former Twin City Foods, Inc., warehouse in Stanwood was purchased by No Meat Factory, Inc., for $19.4 million, or approximately $100 per square foot, according to Snohomish County public records. Industry reports show that Twin City Foods had vacated the property in 2018.
Steven Brunette, Noah Roehl, Andrew Stark, Andrew Hitchcock and Harry Ghag of CBRE represented both the seller, Twin City Foods, and the buyer.
“We’re pleased to work with both the buyer and seller to present an attractive opportunity in a challenging market. Together, we were able to position the plant for long-term success and help Twin City Foods maintain their office headquarters in Stanwood where they have been since the 1940s,” said Brunette, senior vice president, CBRE.
The site is located at 10120 269th Place NW and consists of a two-story structure on 4.1 acres, property records show. The first floor is 189,016 square feet, and the second floor is 5,160 square feet, totaling 194,176 square feet. The building was constructed in 1997. The site is located adjacent to the Stillaguamish River, and nearby businesses include convenience stores, automotive repair shops and dealerships, restaurants and banks.
“Twin City Foods kept the food processing plant well-maintained and highly functional for over 25 years. Its proximity to Everett and major highways aligned well with No Meat Factory’s needs and will help them meet the growing demand for their products in the U.S.,” added Roehl, senior advisor, CBRE.
Twin City Foods was started in Stanwood and now has processing plants in Washington and Michigan, according to the company’s website. The firm is a private label food processor and “has been committed to growing, harvesting, processing, freezing, packaging, and distributing the highest quality quick frozen vegetable products” for more than 60 years. The company began as a small frozen vegetable processing company in 1943 and, since then, has grown to become one of the nation’s largest independent processors of frozen vegetables.
No Meat Factory is based in Surrey, British Columbia, and is part of the plant-based protein industry, according to the firm’s website. The company is focused on the development and production of plant-based foods for consumers, retailers and the foodservice industry. Its products include alternatives for pork, beef, chicken, seafood and deli counter meats as well as processed products such as meatballs and burgers. The firm was incorporated in 2019.