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Cold Storage Daily - October 22 - SENTRE buys building with cold storage in Phoenix for $57.75M

Cold Storage Daily - October 22 - SENTRE buys building with cold storage in Phoenix for $57.75M

SENTRE buys Phoenix cold storage. Revel sells MO cold storage. CBRE leases BC cold storage. PGIM arranges cold storage loan. Lineage names next CFO and VP of Investor Relations. Six new cold storage listings.

Matt H & Katherine Peach
October 22, 2025

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NEWS ROUNDUP

ACQUISITION: SENTRE buys building with cold storage in Phoenix for $57.75M. SENTRE has acquired 7000 West Buckeye Road in Phoenix, Arizona. The property features a 287,000 SF Class A Industrial building with 55,000 SF of cold storage. Will Strong, Phil Haenel, Foster Bundy, Molly Hunt, Jack Stamets, Madeline Warren, and Stephen Fife with Cushman & Wakefield facilitated the transaction. Brian Share, Robert Rubano, Max Schafer, Nikola Kretschmann, Jon Grotzinger, and Sophia Lee with CushWake assisted with the financing.

DISPOSITION: Revel CRE sells cold stroage facility in St. Louis area for $4M. Revel Commercial Real Estate has facilitated the sale of 8501 Page Avenue in Vinita Park, Missouri. The property features a 198,542 SF building with more than 79,000 SF of freezer space, 38,200 SF of cooler space, and more than 42,400 SF of production space. The buyer was Louisa Food Products, and the seller was a subsidiary of Americold Realty Trust. Timothy Convy, Brian Kelley, and John Magner with Revel CRE, along with Scott Delphey with Food Properties Group, represented the seller in the deal.

LEASE SIGNED: CBRE leases cold storage in Vancouver metro area. CBRE has facilitated a lease renewal for 5355 152nd Street, Unit 103, in Surrey, British Columbia. The unit features 70,154 SF of cold storage warehouse space. Bianca Gilbert and Joe Inkster with CBRE represented the tenant in the transaction. Alexis Johnston with Morguard represented the landlord.

FINANCING: PGIM closes $77M loan for cold storage in Jacksonville, FL. PGIM Real Estate has provided BGFP Intl., a joint venture between BG Capital and Saoud Development, with a loan for a cold storage facility at 8730 Somers Road South in Jacksonville, Florida. The property features a 274,692 SF cold storage facility fully leased and operated by FreezPak Logistics. Tyler Huffman with BG Capital brokered the debt financing. Charlie Hurst and Christopher Porter led the PGIM team.

PEOPLE MOVES: Lineage names next CFO and VP of Investor Relations. Lineage has announced that Robb LeMasters will step into the role of Chief Financial Officer on November 10. Robb will succeed Rob Crisci, who is retiring. Robb’s previous experience includes roles as CFO of BWX Technologies Inc. and Managing Director of Blue Harbour Group. Lineage has also hired Ki Bin Kim as Vice President of Investor Relations. Ki Bin’s most recent role has been Managing Director of US REIT Equity Research at Truist.

READ: Cold storage vacancies reach 20-year high.