Orange County, CA-based Provender Partners, which has acquired more than 2 million SF of warehouse space since the beginning of 2021, this month acquired two Class A cold storage warehouses totaling 316,000 square feet in Londonderry, NH in a $67-million transaction.
The Londonderry Freezer Warehouse and Highwood Cold Storage facilities, which are leased to a company called ReallyCold, offer a combined 138,000 SF of -100 below freezer space and more than 24,000 SF of refrigerated dock space, as well as freezers that can chill to -200.
“While there is tremendous demand, there is virtually no available freezer space in the Northeast US,” 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 a region that serves more than 87 million people, all located within a single day’s truck drive.”
Provender, with a growing industrial portfolio of nearly 7 million SF, last year expanded its geographic footprint by making its first investments in Alabama, Iowa, Nevada, New Jersey and Utah.
United States Cold Storage, the third-largest cold storage provider with 381 million cubic feet of temperature-controlled space, continues to grow its US warehouse assets. US Cold Storage, which has 42 refrigerated, chill and ambient storage and distribution facilities across the US, has announced that it will soon break ground for a new 3.8-million-cubic-foot food warehouse on 39 acres adjacent to its existing ware in Tulare, CA. The $31-million warehouse, which will include new freezer space and refrigerated docks when it opens at the end of this year, will increase capacity at US Cold Storage’s Tulare facilities to 51 million lbs. of food products, food ingredients and packaging materials, with an annual throughput of 246 million lbs.
“The Tulare project has been in the planning states for several months, but it had been delayed several times due to the extremely high cost of building materials,” US Cold Storage said in a release.