Cold Storage Daily - June 18 - PGIM provides $78M refi loan for cold storage in Houston, TX

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NEWS ROUNDUP

FINANCING: PGIM provides $78M refi loan for cold storage in Houston, TX area. PGIM Real Estate has provided a $78M loan for the refinancing of 7818 Fisher Road in Baytown, Texas. The property features a 281,849 SF cold storage facility on nearly 31 acres. The borrower is a joint venture between Freezpak Logistics and BG Capital. The PGIM deal team is led by Jacques Chappuis and David Hunt.

DISPOSITION: CushWake/CBRE sell Napa Valley cold storage for $18M. Cushman & Wakefield and CBRE have facilitated the sale of 205 Jim Oswald Way in American Canyon, California. The property features a 115,968 SF cold storage facility on 6.34 acres. Trevor Buck and Brian Foster with Cushman & Wakefield, along with CBRE’s Brooks Pedder and Tony Binswanger, represented the seller, Purple Brands, in the transaction. Matt Storms and Brian Keegan with Keegan & Coppin represented the buyer, Mezzetta Foods.

LEASE SIGNED: Alere leases cold storage facility in Southern California. Alere Property Group has leased Building M at 4465 Corporate Center Drive in Los Alamitos, California. The property features a partially-refrigerated 82,305 SF warehouse. Laird Perkins, Blake Wade, and Josh Kracke with CBRE represented Alere in the transaction. Jake Zacuto and Justin Kreisberg with Zacuto Group represented the tenant, Westlake Produce Co.

DEAL SIGNED: We Store Frozen inks $15M cold storage deal with H-E-B. We Store Frozen has finalized a 3-year, $15M agreement with Texas grocery chain H-E-B. The deal will allow H-E-B to store more than 7,000 pallet positions’ worth of frozen fruits and vegetables at We Store Frozen’s facilities. In addition to its original warehouse at 2304 Reed Road in Houston, We Store is currently building a new facility in Laredo, Texas. The We Store deal team included Omri Shafran and Dima Menin.

GROUNDBREAKING: EZ3PL breaks ground on cold storage in Philly area. EZ3PL has begun construction at 3115 Meetinghouse Road in Telford, Pennsylvania. When completed, the facility will feature a 110,000 SF modern cold storage warehouse with 60’ height variance. The company is currently interviewing potential customers to fill 16,000 pallet positions. The EZ3PL team is led by Zach Derstine.

READ: Cold storage is still undersupplied. “The market is signaling that much of the older, existing supply can’t meet tomorrow’s standards.” — Lukas Huberman, BLT Enterprises

COLD STORAGE PROPERTIES FOR SALE

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144,626 SF | 40 AC | 11,551 SF of Freezer and Cooler Space | Steel and Masonry Construction | 16’ Clear Height | 10 Dock-High Doors | 4 HVAC Units | 3-Phase Heavy Power with 1,200 Amps and 480 Volts | 129 Parking Space

109,000 SF | 35.12 AC | Nearly Completed | $14.7M of Equipment in Place or Ready for Installation | Strategically Located Near Seattle with Convenient Rail, Ground, and Air Transportation Access

107,978 SF Total | 67,725 SF Freezer and 23,441 SF Cooler | 13,068 SF Refrigerated Dock | 15 Docks | 7,595 Pallet Positions | 20’-36’ Clear Heights | Close to Richmond, VA and I-95

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

ONE MORE THING

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