Art Rasmussen has earned extraordinary success in his nearly 28-year career in industrial real estate. Consistently ranking among the Top 10 Sales Producers, Mr. Rasmussen has completed over 53 million square feet of Food Facilities transactions nationwide – for a total consideration of more than $4.4 billion.
From 1986 to 1991, Mr. Rasmussen specialized in the sale and leasing of traditional industrial properties in the downtown Los Angeles and Commerce markets. During this period, he completed over 150 successful transactions, and was involved in the largest industrial land assemblage in company history to that date (General Dynamics $51 million) and the largest industrial investment sale in company history to that date (Southern Pacific Railroad to Lowe Enterprises 3,900,000 square feet and $131.5 million).
Mr. Rasmussen’s creativity in the redevelopment of traditional industrial properties earned him a solid, national client base – and prepared him well for the conversion of standard, dry warehouses into state-of-the-art cold storage distribution and food processing plants he does today.
Completing his first food services transaction in 1988, Mr. Rasmussen formed a partnership with David Norrie in 1991 to lead the CBRE Food Facilities Group. This focused network of 200 CBRE offices nationwide provides exclusive specialization in sales, leasing, appraisal, and financing of food industry real estate.
The group’s expertise in coordinating all technical experts, vendors, and consultants involved in the real estate process has earned them long-term, multi-market assignments with such food industry giants as Costco, Ralphs Grocery Company, Americold Logistics, Kroger, and General Mills.