SEATTLE, Feb. 9, 2007 (PRIME NEWSWIRE) -- Associated Grocers, Incorporated (AG) and GVA Kidder Mathews announced today that AG has agreed to a sale/leaseback of its 55.27 acre Seattle headquarters and distribution facility of over 1 million square feet with Sabey Corporation of Seattle. AG's Board of Directors voted unanimously to accept Sabey's offer pending finalization of contract terms.
John Runyan, President and CEO of AG said, "We are happy with the price and terms Sabey Corporation offered. Working with Dave Sabey, who has strong ties to the community and a wealth of experience with many transactions in the greater Seattle area, made the process easier. His insight and ability to make decisions quickly and decisively has been much appreciated throughout the negotiations."
GVA Kidder Mathews, the largest full service commercial real estate firm in the Pacific Northwest, was hired in December 2006 to market the property located at the south end of Boeing Field between I-5 and East Marginal Way on the border of Seattle and Tukwila.
AG is a wholesaler providing food, nonfood, general merchandise and retail services to stores throughout Washington, Oregon, Alaska, Hawaii, Guam, and the Pacific Rim. Since its founding in 1934, AG has leveraged its group buying power to facilitate the success of its over 320 customer locations. AG procures and distributes a comprehensive selection of fresh foods and traditional supermarket commodities including: grocery, meat, produce, deli, natural, specialty, ethnic, service deli, service bakery, health and beauty care, and general merchandise. To learn more about Associated Grocers, Incorporated, visit: http://www.agsea.com.
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