The Dixie Group Completes Sale & Leaseback of Adairsville Warehouse

Dalton, GA, December 15, 2023-The Dixie Group has completed the sale and leaseback of its warehousing facility located at 400 Princeton Boulevard, Adairsville, Georgia. 

The purchaser of the facility, Adairsville GA, LLC, is an affiliate of Cannon Commercial, Inc. 

The facility consists of 17 acres with one building totaling approximately 294,000 square feet.

The sale price for the facility was $16,250,000. 

Simultaneously with closing, a ten-year lease was entered into between the purchaser and the company’s wholly owned operating subsidiary, TDG Operations. The lease is on a net basis with annual base rent for the first five years of $1,495,660 and for the last five years of $1,585,400 (with no rent for months 13 and 25).

Related Topics:The Dixie Group