Cold Storage Daily - December 3 - JLL Capital Markets arranges 1.7 MSF cold storage portfolio recap

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NEWS ROUNDUP

FINANCING: JLL Capital Markets arranges 1.7 MSF cold storage portfolio recap. JLL Capital Markets has arranged the recapitalization of 2 cold storage portfolios totaling 1.7 MSF on behalf of a joint venture between Provender Partners and affiliates of Cerberus Capital Management. The portfolios were acquired in 2 separate transactions by Artemis Real Estate Partners and Heitman. The properties in the portfolios are located in Clackamas, Oregon; Dallas, Texas; Delanco, New Jersey; Kissimmee, Florida; Lake Zurich, Illinois; Lakeland, Florida; Londonderry, New Hampshire; Rialto, California; St. Louis, Missouri; and Vineland, New Jersey. Sher Hafeez, Michael Leggett, John Huguenard, Wells Waller, William McCormack, Josh Lieberman, and Harrison Malek with JLL represented Provender and Cerberus in the transaction.

DISPOSITION: Lee & Associates sells cold storage facility in Houston. Lee & Associates has facilitated the sale-leaseback of 2701 Porter Street in Houston, Texas. The property features a 21,092 SF cold storage facility with both cooler and freezer space on 2.05 acres. Tanner KinCannon and Preston Yaggi with Lee & Associates represented the seller in the transaction.

LEASED SIGNED: Kidder Mathews leases cold storage facility in Los Angeles. Kidder Mathews has represented both the tenant and the landlord in the leasing of 5343 West Imperial Highway in Los Angeles, California. The property features a 27,018 SF cold storage building. Brian Bennett, Robert Feathers, Race Mooers, and McKenna Najarian represented the tenant, while Luke Staubitz, Andrew Dilfer, and Harvey Beesen represented the landlord, Prologis.

LEASE SIGNED: Stream Realty Partners leases cold storage in DFW metroplex. Stream Realty Partners has facilitated the leasing of 190,447 SF of cold storage space at 6651 North I-35 in Denton, Texas. Jeff Rein, Cheyenne Mungaray, and Matt Dornak with Stream represented the landlord, UBS, in the transaction. The UBS deal team included Rachel Vick and Brian Parkinson. The facility was developed by Cold Creek Solutions, led by Matt McWilliams.

DEVELOPMENT: Lineage breaks ground on automated cold storage facility in Dallas area. Lineage Inc. has begun construction on an automated cold storage facility located at 3550 Lancaster Hutchins Road in Hutchins, Texas. The facility, which is slated to open in 2027, is located adjacent to the Union Pacific Dallas Intermodal Terminal in Prime Pointe Park. The Lineage development team includes Timothy Smith.

READ: Cold storage cap rates jump to 7%.

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

20,853 SF | Fully-Refurbished | 5 Dock-High Loading Positions with Load Levelers | 5 Coolers Totaling 9,000 SF | 16’ Clear Height | Sprinklered | Existing Primus GFS Food Safety Certifications

36,205 SF Total | 2,186 SF Refrigerated Warehouse | 5,400 SF Freezer Warehouse | 9.65 AC | 6,400 SF Office | 7 Dock Doors | 26’ Ceiling Height | 2,186 SF Refrigerated | Fully Sprinklered | Surplus Land for Additional Warehouse Space, Parking, or Outdoor Storage

COLD STORAGE PROPERTIES FOR LEASE

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Available for Sublease | 675,000 SF | 37,735 SF Cooler; 51,414 SF Freezer | 60 Loading Doors (Expandable) - 59 Are Fully Equipped with Levelers, Seals, Bumpers, and Communication Lights | 11,071 SF Cold Dock with 9 Loading Doors | (1) 12’x14’ Drive-in Door | 32’ Clear Height | Located Just Over 1 Mile from I-83

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

Available For Sublease | 204,074-762,963 SF Available | Deep-Freeze Capacity: 83,508 SF; Chilled Space: 119,349 SF; Ambient Storage: 204,074-560,106 SF | 2.5 Miles West of I-75 | Easy Access to Tampa, Orlando, and Miami | 5 Grade-Level Ramps | Minimum 25’ Clear Height | 31 Insulated Dock Doors Servicing Cold Storage and 68 Dock Doors Servicing Dry Area

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