Cold Storage Daily - April 22 - NorthPoint Development sells cold storage in Windsor, CT, for $93.5M

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NEWS ROUNDUP

DISPOSITION: Refrigerated warehouse in Windsor, CT, trades hands for $93.5M. NorthPoint Development has sold 500 Groton Road in Windsor, Connecticut, to its affiliate NP Great Pond Commerce Center LLC. The property features a 530,000 SF warehouse that is currently tenanted by Target. The buyer used the property to secure nearly $76M in credit for loans and advances from UMB Bank.

ACQUISITION: Saxum Real Estate buys cold storage facility in Columbus, OH. Saxum Real Estate has acquired 5303 Fisher Road in Columbus, Ohio. The property features a 465,256 SF cold storage and dry warehouse facility that is 100% leased to Mars Petcare. The transaction marks the company’s first acquisition in Ohio. Sunny Shah led the Saxum RE deal team.

LEASE SIGNED: Lee & Associates leases cold storage in Los Angeles. Lee & Associates has facilitated the leasing of 35,103 SF at 3268 East Vernon Avenue in Vernon, California. Robert Cuevas and Peter Bacci with Lee & Associates - Los Angeles represented Umina Bros. Inc. in the subleasing of the property, as well as facilitating a direct least transaction with Invesco. Bruce Sivilay led the Invesco deal team. A Newmark deal team that included Jeff Sanita, John McMillan, and Danny Williams represented Invesco in the transaction.

FINANCING: Wolf Investment Partners arranges $5,875,000 refi loan for Boston area asset. Wolf Investment Partners has arranged a permanent refinancing loan for a NNN-leased facility in the Boston metro area. The property supports high-tech lab, food R&D, food processing, and cold storage operations. The Wolf Investment Partners deal team included Michael Gefter.

READ: Cold storage moves up, not out.

COLD STORAGE PROPERTIES FOR SALE

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32,128 SF | 2.87 Fully Fenced AC | 22 Individual 1,000 SF Convertible Freezer/Cooler Chambers (Some Combined into 2,000 SF Bays) | 22 Dock-High Loading Positions | 15’ Clear Height in Bays | Adjacent 27,443 SF Lot Currently Used for Truck Parking | $2M+ in Recent Capital Improvements, Including New Insulated Metal Panel Ceilings and Walls, New Freezer Doors, and New Convertible Freon Split Systems | Close to I-95 (<1 Mile), Florida Turnpike, Palmetto Expressway, Golden Glades Interchange, Miami Intl. Airport, Fort Lauderdale-Hollywood Intl. Airport, PortMiami, and Port Everglades

28,314 SF | Nearly 6,000 SF of Frozen Storage with 20’ Ceilings | About 6,000 SF of Dry Storage Warehouse or Shop Space | 3-Phase Power — 1,200 Amps/600 Volts | 6 Trailer Docks, 2 with Levelers and Engine Block Heaters for Frozen Storage Access | 2 Van-Height Doors and 1 Drive-in Door for Dry Warehouse

26,110 SF | 3.09 AC | 2-Story Office Space | 18’-27’ Clear Heights | 13 Dock Doors | 3 Grade-Level Doors with Concrete Ramps | 10 Customizable Cold Rooms | 10 Cooling Units

COLD STORAGE PROPERTIES FOR LEASE

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58,918 SF | 8,929 SF Office | 5 Freezer/Cooler Rooms with Temps Between 0°-36° | Adjacent Fenced Lot |16’-25’ Clear Heights | 2 Loading Docks | Excellent Access to US-192 and Minutes from Polk Parkway, I-4, Florida Polytechnic University, and SunTrax | 12 Parking Spaces

12,168 SF | 8,000 SF of Cold Storage and Processing Space | Office Area | Multiple Bay doors | Just Minutes from I-75/I-64

248,822 SF Available | 34’ Clear Height | Freezer: 36,408 SF; Cooler: 114,156 SF; Cold Dock: 51,930 SF; Office: 24,001 SF | 2 Miles to I-65

ONE MORE THING

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