Cold Storage Daily - December 17 - Hamilton Lane and Slate buy majority stake in Cold-Link Logistics

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NEWS ROUNDUP

ACQUISITION: Hamilton Lane and Slate buy majority stake in Cold-Link Logistics. Hamilton Lane and Slate Asset Management have acquired a majority stake in Cold-Link Logistics, a top North American cold storage platform with 9 modern facilities across the US The deal expands Slate’s food logistics footprint, while Cold-Link’s founders, Michael and Nick Mandich, will retain a meaningful stake in the company. The Slate deal team was led by Jeff Rodgers, while the Hamilton Lane deal team included Brent Burnett.

DISPOSITION: DHL sells cold storage in North Jacksonville, FL for $192M. DHL Supply Chain has sold its refrigerated warehouse at 10030 Eastport Road in Jacksonville, Florida. The property features a 625,308 gross SF building on nearly 50 acres. The buyer was Kohlberg Kravis Roberts & Co. through Eastport Exchange Owner LLC.

LEASE SIGNED: Advance Industrial Group leases cold storage in Newark, NJ. Advance Industrial Group has facilitated the leasing of 449 Doremus Avenue/414 Avenue P in Newark, New Jersey. The property features a 30,000 SF warehouse plus industrial outdoor storage (IOS) space. Anthony Rittwager with Advance Industrial Group represented the tenant, Garden State Cold Storage, an affiliate of Ruggiero Seafood Inc. The property is owned by Deugen Investment Group and Devli Real Estate. (Interested in IOS? Check out our sister publication IOS List.)

LEASE SIGNED: Friend CRE subleases cold storage in Baltimore metro area. Friend Commercial Real Estate has facilitated a sublease for 50,000 SF of cold storage at 1020 Airport 100 Way in Hanover, Maryland. Approximately 50,000 SF remains available for sublease at the site. Mitchell Zangwill and Kenneth Griffin with Friend CRE represented the sublandlord, the parent company of Giant Foods, in the transaction.

DEVELOPMENT: Trader Joe’s plans $48M expansion in Sacramento area.Trader Joe’s has received a $48M permit to expand its facility at 12100 Atanta Circle in Rancho Cordova, California. The expansion would add 365,544 SF of cold storage to the company’s existing building.

FINANCING: PGIM Real Estate funds $140.5M loan for 6 cold storage facilities. PGIM Real Estate has funded a floating-rate acquisition loan for 6 cold storage facilities nationwide. The portfolio totals 853,000 SF, with properties in the Boston, Inland Empire, Orlando, Philadelphia, and Tampa markets. The borrower is a partnership between Provender Partners and Artemis Real Estate Partners.

COLD STORAGE PROPERTIES FOR SALE

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Available as Campus or Separately | 4815 Executive: 702,505 SF with 83,222 SF Freezer, 19,287 SF Cooler, 19,636 SF Refrigerated Dock, 21’-36’ Clear Heights, 63 Dock Doors, and 1 Drive-in Door | 5020 Investment: 47,180 SF with 28’ Clear Height, (15) 19’x10’ Dock Doors, and 1 Drive-in Door | 5025 Executive: 125,485 SF with 63,855 SF Cooler, 27,357 SF Refrigerated Dock, 36’ Clear Height, (33) 7’x9’ Dock Doors, and 1 Drive-in Door | Immediate Access to the I-69/US-27 Interchange

64,950 SF | 40 AC | 25,350 SF Cold Storage and Warehouse; 38,400 SF Attached Shade Structure; 1,200 SF Offices & Conference Room | Cell Tower and AG Lease Income | 1,000 Amps of Power | 4 Dock-High Roll-up Doors

Total 86,366 SF | 3 AC of Secured Rail-Serviced Yard | 3 Buildings | 62.7% Leased | 425’ of Frontage on Highway 29 | Close to Oakland Intl. Airport and San Francisco Intl. Airport | Rail Served | 3 AC of Excess Yard Can Be Developed into 37,500 SF Warehouse | Nearly $1M of Recent Capital Improvements

COLD STORAGE PROPERTIES FOR LEASE

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Available for Sublease | 278,582 SF | 6,000 SF Office | (27) 8’x9’ Dock Doors with 30-35,000 lb. Capacity Hydraulic Levelers with Seals and Bumpers | (1) 12’x14’ Drive-in Door | 27’ Clear Height | 800 Amp 277/480 3-Phase Power | Easy Access to I-83 and Parcel Hubs

Available for Sublease | 613,174 SF | 4 Ground-Level Loading Ramps | 116 Dock-High Loading Doors - 45 with Mechanical Pit Load Levelers with Seals, Lights, and Shelters | 30’ Minimum Clearance Height | 8,000 SF Primary Office with Protective Guardrails | I-215 Freeway Frontage

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

ONE MORE THING

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