Gleaners Food Bank is set to announce Wednesday that it is relocating to the former Monarch Beverage Co. warehouse on the southwest side of Indianapolis, and it hopes to raise $11.6 million for the move.
Gleaners has agreed to pay Monarch $8.2 million for the 297,000-square-foot warehouse, which was appraised at $10.5 million, CEO Pamela Altmeyer said. The sale closed in February 2009, and Monarch vacated the building last September.
Food bank staff members spent the past several months learning to operate out of the modern facility at 3737 Waldemere Road, and they will begin distributing food from that location April 19, Altmeyer said.
For the past 25 years, Gleaners has operated out of an 83,000-square-foot building at 1102 East 16th St. Altmeyer said the new building will allow the food bank staff to work more efficiently, and it will accomodate more volunteers, including children, safely.
"It's like going from hell to heaven," she said.
Gleaners has raised $8.25 million toward its goal, but is looking for the remaining $3.35 million to help pay for the conversion of a cooler to a freezer, the purchase of a refrigerated truck, and about $1.5 million in architectural and other fees associated with the move.
Gleaners owes $2.2 million on the building, and Monarch's EF Transit Holding Co. is holding a 10-year note at 3 percent interest, though the company has agreed to forgive interest for the first 18 months, Altmeyer said. Monarch also donated more than $200,000 in equipment that goes with the building, she said.
Monarch, the state's largest beer and wine distributor, moved its headquarters to Lawrence.