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| Home : MealPro Acquires $1.85 Million Office Building Using SBA Loan |
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Mar 28
2024 |
MealPro Acquires $1.85 Million Office Building Using SBA Loan |
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MealPro buys 11,303 square foot office building in Gold River, California to increase its corporate footprint and expand its administrative capacity, solidifying their commitment to infrastructure investment and vertical integration. |
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MealPro [www.mealpro.com] the leader in customizable meal delivery, has acquired a $1.85 million office located at 11231 Gold Express Dr, Gold River, CA 95670 using an SBA 504 loan. Nestled in an upscale suburb of Sacramento, this upgraded office will serve as the hub for MealPro's marketing and support teams, enabling its growth trajectory while providing enhanced service to customers nationwide.
"MealPro is a company with a strong foundation and we see owning our infrastructure as mission-critical," said Andy Sartori, Founder & CEO of MealPro. Over the past two years, MealPro has invested over $5 million to ensure seamless vertical integration. This included the acquisition of a food production facility for $3.3 Million, refrigerated trucks for direct sourcing of premium ingredients, and state-of-the-art cooking and packaging equipment.
"Vertical integration is the foundation of our success. Controlling every facet of our operations, from ingredient sourcing to cooking, packaging and fulfillment, we can uphold rigorous quality standards, and consistently exceed customer expectations. MealPro is built for the long term, our strategy relies on strong customer loyalty," continued Sartori.
"We are in a challenging environment for businesses," explained Mark Schwan, Senior Vice President at Bay Area Development Company, one of the banks underwriting MealPro's office purchase. "With inflationary pressure and interest rate challenges, finding a willing lender can be difficult."
"The office market is going through a particularly difficult patch," confirmed Jim Stephens of TRI Commercial, the broker who assisted MealPro in this transaction. "Thankfully the SBA 504 loan program enables companies to secure long-term, high leverage, fixed rate financing for building purchases."
The expansion will enable MealPro to continue growing at its current pace, while continuing to innovate in the food delivery industry.
About MealPro:
MealPro provides healthy, pre-cooked meals to all 50 states with no subscriptions required. From popular a la carte offerings, to lifestyle diets such as ketogenic and bodybuilding meals, to medically compliant meals for various chronic conditions, MealPro leads the industry in convenient, healthy eating.
Press Contact:
MealPro
https://www.mealpro.com
7433 Greenback Ln,
Citrus Heights CA 95610
844.463.2577
Andy Sartori
MealPro – Founder
asartori@mealpro.net
408.220.5926
Holden Vargas
MealPro – Director of Customer Experience
hvargas@mealpro.net
916.304.2971
Jim Stephens
TRI Commercial – Commercial Real Estate Broker/Advisor
jstephens@tricommercial.com
916.677.8165
Mark Schwan
Bay Area Development Company – Senior Vice President
mschwan@baydevco.com
916.804.1972
Andrew Murray
Enterprise Bank & Trust – SBA Business Development Officer
amurray@enterprisebank.com
916-712-7700 |
| Source:https://www.1888pressrelease.com/mealpro-acquires-1-85-million-office-building-using-sba-loa-pr-733540.html |
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