Cold Storage Daily - April 9 - Manulife buys cold storage in Jacksonville, FL for $113.8M

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NEWS ROUNDUP

ACQUISITION: Manulife buys cold storage in Jacksonville, FL for $113.8M. Manulife Investment Management has acquired 9765 North Main Street in Jacksonville, Florida. The seller was Saxum Real Estate Investments and Development Co. The property features a cold storage facility that is currently 100% leased and occupied by Arcadia Cold Storage & Logistics. Melissa Rose, Michael Klein, Wells Waller, Nicole Barba, and Preston Bacon with JLL Capital Markets facilitated a $68.28M loan for the acquisition. The Manulife deal team included Jorge Perez and Jeff Yamashiroya.

ACQUISITION: Lineage Logistics finalizes sale of Bellingham Cold Storage. Lineage Logistics has finalized its acquisition of Bellingham Cold Storage (BCS). The Lineage deal team included Brian Beattie and Greg Lehmkuhl. Doug Thomas led the BCS deal team. Through the acquisition, Lineage has added 3 cold storage facilities in the Pacific Northwest to its portfolio:

• 600 West Orchard Drive in Bellingham, Washington

• 1600 Port Drive in Burlington, Washington

• 301 South Walnut Street in Burlington, Washington

ACQUISITION: Vertical Cold Storage buys Detroit, MI area cold storage facility. Vertical Cold Storage has acquired Arctic Logistics, located at 4360 South Haggerty Road in Canton, Michigan. The property features a 140,00 SF cold storage facility. The Vertical Cold deal team was led by Jim Henderson. The Arctic Logistics deal team was led by John Connor.

ACQUISITION: Quirch buys cold storage warehouse in Miami, FL metro area. Quirch Foods, an affiliate of Palladium Equity Partners, has acquired 12345 Northwest 38th Avenue in Opa-Locka, Florida. The property features a 146,000 SF dry, chilled, and frozen warehouse. The Quirch/Palladium deal team included Frank Grande, Daniel Ilundain, and Chris Allen.

UPDATE: In our March 26 edition, we mentioned Americold Realty Trust’s acquisition of 6330 Nita Way in Baytown, Texas. We now know that Trent Agnew, Will Mogk, Keenan Ryan, and Clay Anderson with JLL Capital Markets represented the seller in the transaction.

FINANCING: Arrow secures $13.8M refi loan for cold storage in Columbus, OH. Arrow Real Estate Advisors has facilitated a refinance loan for a cold storage facility at 6660 Broughton Avenue in Columbus, Ohio. The property features a 297,495 SF warehouse. The Arrow deal team included Morris Betesh and Jack McPhail.

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COLD STORAGE PROPERTIES FOR SALE

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34,105 SF | 1.798 AC | 9 Dock-High Loading Doors | 2 Freezers and 3 Coolers | 20’ Ceiling Height | Easy Access to I-295, I-95, RI-2, RI-37, and TF Green Intl. Airport

22,500 SF | 5 AC | Secured by a Perimeter Chain-Link Fence | 11,300 SF of Cold Storage | 1,200 SF Office | 8,400 SF Canopy | Truck Scale | House Trailer

For Sale and Lease | Total 53,184 SF | 33,292 SF Cooler Area | 19,892 SF Ambient Area | 4,275 SF Office | 3.46 AC | 18’-25’ Clear Heights | 16 Dock-High Doors | 1 Drive-in Door

COLD STORAGE PROPERTIES FOR LEASE

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392,613 SF (Divisible to +86,400 SF) |100% Freezer Capable | Fully Convertible Refrigeration Zones (-10-70°F in Zones Based on Tenant Requirement) | 50’ Clear Height | 51 Dock-High Doors with Vertical Hydraulic Levelers and 2 Ramps | 219 Car Parking Spaces and 65 Trailer Parking Spaces (Expandable)

38,595 SF | Refrigerated Facility with Slab Unpoured for Ability to Customize for Cooler, Freezer, and Food Production Requirements | 36’ Clear Height | 7 Dock-High Doors | 1 Drive-Through Door with Ramp | 130’ Truck Court | Close to I-10, I-610, Port of Houston, and William P Hobby Airport

68,000 SF Total | 25,200 SF Covered Weigh Station | 2,088 SF of Office Space | Dock-High Ramp | Grade-Level Doors | Precool Room and Main Storage Room with Thick Slabs, 26’ Clear Height, and Tilt-up Concrete Walls | 3 Other Cold Storage Rooms | 5 Minutes to I-5

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