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Cold Storage Daily - October 23, 2024 - Investor group buys NC warehouse for $23.5M

Cold Storage Daily - October 23, 2024 - Investor group buys NC warehouse for $23.5M

Investor group buys North Carolina warehouse. Harvest Valley buys Florida warehouse. TRUE leases Pennsylvania refrigerated facility. SRS leases cold storage in Georgia. RealCold warehouse in Texas nears completion. Six new cold storage listings.

Matt H & Katherine Peach
October 23, 2024

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NEWS ROUNDUP

Cold storage warehouse sold in North Carolina

ACQUISITION: Investor group buys warehouse in NC for $23.5M. A group of investors based in Oakland, California, and Miami Beach, Florida, has purchased 2900 Lowery Street in Winston-Salem, North Carolina. The property features a 157,878 SF warehouse and office facility. The seller was Purple Crow. The property will be leased to fresh-food distributor Foster USA, which plans to expand the facility’s cold storage capacity. The Foster deal team was led by CEO Scott Bland.

ACQUISITION: Harvest Valley buys FL warehouse for $16M. Harvest Valley has acquired 2963 Stonewall Place in Sanford, Florida. The property includes a 109,610 SF warehouse that Harvest Valley intends to convert to cold storage. Wayne Schuchts, Michael Palmer, and Andrew Lehrer with SRS Industrial Florida represented Harvest Valley in the transaction.

LEASE SIGNED: TRUE leases refrigerated warehouse space in Ephrata, PA. TRUE Commercial RE has facilitated the lease of 7,100 SF of refrigerated warehouse space at 235 Turtle Hill Road in Ephrata, Pennsylvania. The tenant is Uptimised Global LLC. TRUE’s Gordon Kauffman and David Albright represented both parties in the transaction.

LEASE SIGNED: SRS leases freezer/cooler facility in Lithonia, GA. SRS Industrial has facilitated the lease of 2200 Lithonia Industrial Boulevard in Lithonia, Georgia. The property features a 54,800 SF warehouse. The SRS team of Chip Watson and Olivia Diaz represented the new tenant, Harvest Valley.

DEVELOPMENT: RealCold facility in Lockhart, TX nears completion. A 310,000 SF warehouse being constructed for RealCold is on track for completion in the first quarter of 2025. The facility will be part of the Lone Star Logistic Center located north of State Highway 130 and Farm to Market Road 2001 in Lockhart, Texas. The facility will feature convertible rooms with temperatures from -20F to 50F. RealCold plans to eventually expand the warehouse by an extra 147,000 SF. RealCold is led by CEO Keith Goldsmith.