Moresco Distributing Company is purchasing a 123,600 sq. ft. facility located at 1450 Technology Lane, Petaluma, CA. Moresco was operating out of two facilities, a building it owned and a second building it was leasing. The company will consolidate both locations in the new building, which includes 39,500 sq. ft. of Class A office space for lease plus nearly 200 parking spaces.
“The new facility puts us under one roof,” said Ron Moresco, President & Owner, Moresco Distributing Company. “The building has 39,500 square feet of office space we can rent out, which gives us a real estate investment and additional cash flow. The facility is ideal as a headquarters or satellite office for a growing business.”
Founded in 1994, Moresco is a full-service packaging and distribution company specializing in biodegradable and compostable products for regional food distributors, independent grocers, food processors, specialty retail foodservice operators and wineries in the Greater San Francisco Bay, Sacramento, and Portland, Oregon regions including our local Petaluma Market.
They accomplished this purchase using U.S. Small Business Administration 504 loans through Capital Access Group. The total financing amounts to $10.65 million. The company accessed 504 financing through Capital Access Group for the purchase of its first building, which it sold and reinvested the proceeds in the new building through a 1031 exchange. “Without the 504 program, we wouldn’t have been able to parlay up to buy this building,” said Ron Moresco, President & Owner, Moresco Distributing Company. “The SBA loan was the difference, and Jacklyn Jordan and Dave Simmons from Capital Access showed us the path to justify this move.
via press release Moresco Distributing Company Purchases Largest Warehouse/Office Space in Sonoma County with 504 Loan from Capital Access Group.