Cold Storage Daily - April 8 - NAI Puget Sound Properties sells cold storage in Seattle metro for $16.5M

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Today, we cover a cold storage facility sale in the Seattle area and a Los Angeles lease.

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NEWS ROUNDUP

DISPOSITION: NAI Puget Sound Properties sells cold storage in Seattle metro for $16.5M. NAI Puget Sound Properties has facilitated the sale of 7043 South 190th Street in Kent, Washington. The property features a 72,038 SF cold storage facility that is currently 100% leased to 2 tenants. The seller was an affiliate of Clarion Partners, while the buyer was an affiliate of Infill Industrial Partners. Jeff Forsberg, Arie Salomon, and Patty Bell led the NAI Puget Sound Properties deal team in the transaction.

LEASE SIGNED: Newmark leases cold storage facility in Los Angeles. Newmark has facilitated the leasing of 19,989 SF at the Washington Food Center, located at 3080 Washington Boulevard in Los Angeles, California. A Newmark deal team that included Jeff Sanita, John McMillan, Danny Williams, Connor Reeves, Joey Farney, Brendan Phinny, Andrew Conroy, and Trudy Linke represented the landlord, Link Logistics, in the transaction. Eric Feucht led the Link Logistics deal team.

GRAND OPENING: FreezPak Logistics opens Greater Boston area cold storage facility. FreezPak Logistics has announced the opening of its new state-of-the-art cold storage facility at 1151 Innovation Way in Fall River, Massachusetts. The facility offers up to 12.79M cubic feet of temperature-controlled storage, along with container plugin, cross-docking, container unloading, and other services. FreezPak is led by Dave Saoud.

EXPANSION: Shoreline Freezers plans expansion of facility in Southern NJ. Shoreline Freezers is planning to expand its cold storage facility located at 6 North Industrial Boulevard in Bridgeton, New Jersey. When finished, the project will expand the facility’s pallet positions from 7,000 to 27,000 and will also add cross-docking, ocean container services, and railcar siding access. “This expansion represents a significant milestone for our company and an important investment in our customers’ growth,” said COO Gene Taormina.

FINANCING: Truist provides $84.5M construction loan for Columbus, OH, cold storage. Truist Bank has provided an $84.5M construction financing loan for a new build-to-suit cold storage project located in Columbus, Ohio. The facility, which is 100% pre-leased to a national consumer brand manufacturer, will feature 332,866 SF of cold storage space upon completion. The Truist deal team included Mark Hancock, John Risoen, Sai Kalidindi, Patrick Hartigan, and Rhonda Stilwell.

READ: Rising cold storage rents push users to build.

COLD STORAGE PROPERTIES FOR SALE

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297,769 SF | State-of-the-Art Modern Freezer/Cooler Facility Fully Leased on Absolute NNN Basis to Progressive Logistics | 40’ Clear Height | 8” Reinforced Floors in Freezer/Cooler Rooms with Underslab Heating | 41 Dock Positions | Parking for 100 Cars and 52 Trailers | Located in East Submarket of Indianapolis MSA | Easy Access to I-70

8,560 SF Total | 4,000 SF Office Area; 3,500 SF Cooler Area; 1,000 SF Dry Warehouse Area | 100% Leased | 2 Dock-High Doors and 1 Ramp | 24’ Ceiling Height | Twin-T Concrete Roof | Sprinklered

101,710 SF | 5.93 AC | 7 Units | 100% Leased | 18 Condensers and 35 Evaporators | 8 HVAC Units | 3-Phase Heavy Power | 28’-30’ Ceiling Heights | 28 Dock Doors | 120 Parking Spaces | Just South of I-10 and Within 10 Miles of 2 Commercial International Ports of Entry

COLD STORAGE PROPERTIES FOR LEASE

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Multi-Building Property Totaling 240,033 SF | 14 AC | 25’ Clear Height | 1,500 SF of Office Space | 12 Docks and 3 Grade-Level Doors | 25 Parking Spaces | Zoned for Industrial Use | Close to FL-44 and US-27

80,000 SF Freezer/Cooler Space for Lease | Hard-to-Find -10° Freezer | Recently Updated Dock-Door Package | 3PL Services Available | Minutes from I-35 and I-94

16,500-25,000 SF Available | 2 Backup Generators | 500 SF 1st Floor Office | 18’-20’ Clear Heights | 4 Dock-High Doors | Heavy Power Capacity | Refrigerated Loadings/Staging Area | Direct I-95 Visibility and Access

ONE MORE THING

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