Mission Produce Inc T.AVO

Primary Symbol: AVO

Consumer Defensive Packaged Foods

Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.

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Mission Produce Inc > Potential Building Sale

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Comment by Oldudeon Sep 18, 2017 10:29am

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Post# 26708532

RE:RE:Potential Building Sale

Hey Clarence, the sale price was $107.5M. https://ir.avigilon.com/Investor-Relations/Press-Releases/Press-Releases-Details/2017/Avigilon-Enters-Into-Agreement-to-Sell-Office-Tower-for-1075M/default.aspx

At the end of Q2, there was about $1M left on renovation spending according to Q2 report. Profit should be in the $50-60M range. What was previously a large piece of unrenovated real estate with no tenant just became a state-of-the-art headquarter with a guaranteed long-term tenant. That explains the difference in value, as it's now risk-free fixed income for a large investment portfolio. Brilliant move by AVO. I'm glad they didn't listen to analysts who knew nothing about the downtown Vancouver commercial real estate market.

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