Property History
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Pegasus Investments Real Estate Advisory Inc., as exclusive investment sale advisor to seller, is pleased to offer a single-tenant PepsiCo bottling distribution facility in Mineral Wells, West Virginia – part of the greater Parkersburg metro area. The property is 100% leased to PepsiCo [Lessee: Bottling Group, LLC] on a triple net basis, appealing to landlords seeking a passive investment backed by one of the world’s most influential companies and most highly recognizable brands. The subject property has been leased to PepsiCo’s bottling group for 23 years (since 1997) and has demonstrated its enduring tenure as a mission-critical distribution facility for PepsiCo.
PepsiCo has continued its impressive track record of annual growth, with $67 billion in earnings and $8 billion in net income in 2019. With over $5.5 billion in cash on its balance sheet, PepsiCo has maintained an impressive Moody’s “A1” investment-grade credit rating and an impressive $7.5 billion untapped credit facility. PepsiCo is one of the world’s most highly recognizable and valuable brands and has used its strong balance sheet and market presence to acquire competitors and consolidate its hold on the food and beverage industry.
PepsiCo owns several popular brands, including Pepsi, Lays, Doritos, Mountain Dew, Cheetos, Ruffles, Aquafina, Quaker, and Tropicana. Mineral Wells is part of Parkersburg and sits at the confluence of the Ohio and Little Kanawha rivers. Parkersburg is the 3rd largest city in the state of West Virginia and is most widely known as the headquarters for the Bureau of the Public Debt, an agency of the US Department of the Treasury. The Department of the Treasury currently employees roughly 1,900 people in Parkersburg and has continued to grow its workforce over the years. In 2012, the Bureau of the Public Debt merged with the Financial Management Service to form the Bureau of Fiscal Service and relocated 450 jobs from Maryland to Parkersburg.
- Leased to PepsiCo: Largest Food & Beverage Company in the US & 2nd Largest in the World
- Tenant’s Parent Company Carries Strong Investment-Grade Credit Rating (Moody’s “A1”)
- Federal Agencies Bolster the Parkersburg MSA - Parkersburg is home to the US Treasury Department of the Public Debt with 1,900 Employees
- Bottling Group: Massive Credit & Mission-Critical Operation - Accounts for Approximately $11.6 Billion of Pepsi's Annual Revenue
- Mineral Wells is a Proven Distribution Center - Pepsi has Occupied the Subject Property for Nearly 23 Years
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