March 24th, 2021 - High Road Craft Ice Cream has re-upped its commitment to its Atlanta-area headquarters and manufacturing facility as U.S. ice cream sales and shipments climb during the coronavirus pandemic because of people staying home to help slow the spread of COVID-19.

High Road, which sells its ice cream at Whole Foods, Fresh Market, Publix, and other grocery stores as well as online, has renewed its lease at West Oak Commons I, a 72,800-square-foot building at 1730 W. Oak Commons Court in Marietta, Georgia, northwest of Atlanta. High Road plans to use new equipment that will make 300 ice cream bars per minute, according to Cresa, which brokered the deal. The renewal comes about four months after High Road bought a plant in Wisconsin that will enable it to increase its production of ice cream pints, sandwiches, and novelties. Founded in 2010 by James Beard Award-winning chef Keith Schroeder and his wife Nicki Schroeder, High Road has chefs who create ice cream flavors, artisanal treats, and other products. High Road, which recently celebrated its 10th anniversary, says it is the country's fastest-growing craft ice cream manufacturer. High Road hired Cresa brokers Brooks Morris and Andy Roberts to help secure control of its headquarters space. The brokers negotiated renewal terms with concessions from the landlord that reduced High Road's capital expenditures by 40%, according to Cresa.

“They executed a transaction that exceeded our expectations," High Road's Keith Schroeder said in a press release.

Morris said Cresa worked to persuade the landlord, Clarion Partners, that its investment in the asset's infrastructure would be good for the overall value of the property in addition to benefiting the tenant. High Road was able to use capital from the landlord to reinvest toward the growth of their business, Morris said in an email. High Road's renewed commitment to its commercial property near Atlanta was made after a year of strong growth in the ice cream market, fueled partly by people who spent more time at home during the pandemic. During the 52 weeks that ended Dec. 27, the total amount spent on retail ice cream climbed 16.8% and unit sales increased 12%, according to Chicago-based market research firm IRI.

"It's a beautiful time for the ice cream category," High Road CEO Keith Schroeder posted this week on his LinkedIn page.

High Road Chief Marketing Officer Nicki Schroeder said people ate more ice cream to help get through the challenging times created by the global health crisis. "I think people need some happiness...hence more ice cream!" she said in a LinkedIn message. Last fall, High Road finalized its acquisition of the former Three Twins plant in Sheboygan, Wisconsin. "This acquisition will significantly amplify the company's capabilities, doubling the brand's packaged ice cream capacity, strengthening its march to national distribution, and allowing for significant logistics adaptability and efficiency," High Road said in a statement about the purchase. The new Wisconsin facility is expected to help the company reach its goal to grow revenue to more than $100 million in the next three years. Cresa said it expects the expansion of High Road's production capabilities to be completed at the beginning of 2022.

 

For the Record

 

High Road hired Sam Peng of Cresa’s project management team to help expand High Road's production capabilities at the Marietta facility. Lee & Associates brokers Billy Snowden and Tommy Hiles represented the landlord.