Provender Partners Acquires 316,000 SF of Cold Storage Space in Southern New Hampshire

The cold storage warehouse acquisitions provide a strategic opportunity so support a distribution system that serves more than 887 million people with a day’s drive

219 Rockingham Road, Londonderry, Nh

219 Rockingham Road, Londonderry, Nh

NEWPORT BEACH, Calif.Feb. 15, 2022PRLog — Provender Partners, a leading food-related industrial buildings investor, has acquired two Class A cold storage warehouses totaling approximately 316,000 square feet in Londonderry, NH in a $67 million transaction. Leased by ReallyCold, the facilities are strategically located to serve a population of more than 87 million within an approximately 500-mile radius.

Located less than a mile from Interstate 93, the 191,836-square-foot Class A cold storage warehouse at 219 Rockingham Rd. comprises 147,623 square feet of -10 degree freezer space, 7,689 square feet of -20 degree below freezer space, 10,200 square feet of refrigerated dock space and 7,224 square feet of office space. The 14.2-acre facility offers 24,000 pallet positions and includes 10 docks and 30-foot clear heights.

The 124,100-square-foot Class A cold storage warehouse at 6 Rockingham Rd., located only 3 minutes away from the interstate, features more than 90,000 square feet of -10 degree freezer space, 14,120 square feet of refrigerated dock space, 6,000 square feet of cooler/freezer and 5,342 square feet of office space.  Situated on a 12.86-acre site, the 20-year-old facility, which was expanded in 2005, offers 14,000  pallet positions and includes 10 docks and 30-foot clear heights.

“While there is tremendous demand, there is virtually no available freezer space in the Northeast U.S.,” said Provender CEO and founder Neil Johnson. “The 32,000 pallet positions between these two Londonderry cold storage properties made this purchase a prime opportunity to tap into the critical food supply chain in the region that serves more than 87 million people from Washington, D.C., to Montreal and Boston to Pittsburgh, all located within a single day’s truck drive.”

The major food-related industrial buildings purchase comes on the heels of Provender Partners’ approximately $24 million acquisition of a Midwest industrial portfolio in January. The Orange County, Calif.-based investor/operator enjoyed an active 2021, acquiring two million square feet of food-related industrial buildings which increased its total assets acquired since inception to 6.5 million square feet. The firm also expanded its geographic footprint making first investments in Alabama, Iowa, Nevada, New Jersey and Utah.

Kevin Griffiths of Newmark  represented Provender in the off-market sale. The seller, a New York-based investment and real estate firm was represented Newmark’s Brian Pinch.

About Provender Partners

Provender Partners (http//:www.provenderpartners.com) is the leading Food Related Industrial Buildings investor in the U.S. and the only investor 100% dedicated to FRIB. With real estate holdings throughout the United States, Provender Partners combines cutting-edge research and analysis with years of experience to ensure the best possible value for its clients in every facet of the FRIB business. Since inception in 2014, Provender Partners has acquired $720 million of refrigerated real estate totaling more than 7M SF; sold $555 million of property; and leased 5.4 million square feet to clients that include Sprouts, Dollar General, Hello Fresh, Penske Logistics and Kraft Heinz.

Contact

Bruce Beck

DB&R Marketing Communications, Inc.

***@dbrpr.com

Provender Partners Acquires 570K-SF Temperature Controlled Building in Manteno, IL for $30 Million

Newport Beach, CA-based investment firm grows Chicago food-related industrial real estate portfolio to nearly one million square feet in 18 months.

1125 Sycamore Road

1125 Sycamore Road

NEWPORT BEACH, Calif.Oct. 21, 2021PRLog — Provender Partners continues to expand its Chicagoland food related-industrial building (FRIB) portfolio with the acquisition of a 570,028-square-foot warehouse and distribution facility with 50 acres of excess land in the Chicago MSA for $30 million.

The property is located at 1125 Sycamore Road in the Village of Manteno, 55 miles south of downtown Chicago.   Built in 1999, the building is 100% temperature controlled accommodating a wide array of uses.  It also features 41-foot clear heights, 84 docks, rail service and 132 trailer stalls.     Within a single day’s truck drive of the Chicago, St. Louis, Milwaukee, Detroit, Des Moines, Louisville, Cincinnati, and Indianapolis metro area, the cross-dock facility serves as the centralized Midwest distribution center for McKesson’s pharmaceutical supply chain.

The acquisition also includes 50 acres of excess land, which is fully entitled for the development of an additional 620,000 square feet of industrial space. Provender is considering several options for the land including future expansion of the existing building, speculative or a build-to-suit industrial development.

The Provender Midwest Distribution Center is the fourth and largest FRIB asset acquired by Provender Partners in the Chicagoland metro in the past 18 months.   After entering the market in May 2020 with the acquisition of a 141,000-square-foot food processing facility in Berkeley, IL, 100 percent leased to Preferred Meals, Inc., Provender’s portfolio now totals 906,000 square feet of food related industrial buildings.

Two of those assets, an 81,000-square-foot meat processing facility in Bolingbrook and a 95,000-square-foot Tri-Temp building in Lake Zurich were vacant at the time of acquisition.   After speculative upgrades, Provender leased up both buildings to HelloFresh (Lake Zurich) and a pre-prepared meal manufacturer (Bolingbrook).

“Cold storage is largely a function of population and food manufacturing, and as one of the largest food manufacturing hubs in the country, it is obvious the vital role Illinois/Chicagoland plays in the country’s food supply chain,” said Provender Partners CEO and Founder Neil Johnson.  “We will continue to invest in the area’s Cold Chain opportunistically, whether that be in cold storage or food manufacturing facilities.”

The sale was facilitated by Will Mura, Vice President for CBRE’s Capital Markets, Industrial & Logistics Investment Sales Services Team with Ted Gates, Vice President, Industrial & Logistics Advisory and Transactions Team.

About Provender Partners

Provender Partners (http://www.provenderpartners.com) is the premier Food Related Industrial Buildings investor in the U.S. and the only investor 100% dedicated to FRIB. With real estate holdings throughout the United States, Provender Partners combines cutting-edge research and analysis with years of experience to ensure the best possible value for its clients in every facet of the FRIB business. Since inception in 2014, Provender Partners has acquired $620 million of refrigerated real estate totaling 6.5M SF; sold $555 million of property; and leased more than 5M SF to clients that include Sprouts, Dollar General, Hello Fresh, Penske Logisitcs and Kraft Heinz.

Contact

Bruce Beck

DB&R Marketing Communications, Inc.

***@dbrpr.com