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Provender Partners Acquires Strategic Food Production and Distribution Facility Near Philadelphia

215 N Mill Road, Vineland, Nj

215 N Mill Road, Vineland, Nj

NEWPORT BEACH, Calif.Aug. 29, 2022PRLog — Provender Partners has acquired from Safeway Fresh Foods, a 217,540-square-foot temperature controlled food production and distribution facility in Vineland, NJ for $22.5 million.

Safeway, an agriculture and food manufacturing company, which gives fresh and prepared foods for retailers through the entire Mid-Atlantic states through its fresh food division Sunnyside Farms, will continue steadily to occupy 100 percent of the building for another five years beneath the sale/leaseback transaction.

Located at 215 N. Mill, the mid 1990’s vintage building with approximately 64% freezer and cooler space, is Safe Quality Food (SQF), USDA and Organic Certified. The building features 28′ foot clear heights and 23 dock-high doors. Situated on an 18-acre site, the 27% coverage offers ample trailer parking and prospect of expansion.

“It is a highly functional, mission critical food production and distribution facility in the supply chain that serves probably the most densely populated regions in the united kingdom,” said Provender COO John Long, Jr. “With usage of both major regional rail and trucking lines, the asset is well positioned to supply same or following day delivery for retailers serving a population of around 57 million who live inside a 250 mile radius. The asset perfectly aligns with this business objectives to create a substantial food related industrial portfolio in your community.”

Vineland may be the second major acquisition for Provender in the higher Philadelphia metro within the last 12 months. Provender, which includes invested in a lot more than 6.5 million square feet of food-related industrial buildings in the united states since its founding in 2014, entered the Philadelphia market in September of this past year with the acquisition of a 255,000-square-foot building in Delanco, NJ. That building serves because the refrigerated and frozen food distribution facility for national e-commerce food company Misfits Market.

“Understanding their investment strategy and the makeup of the offering, we believed that Provender will be a suitable partner for the client and thought we would take the chance right to them,” said Ryan Guittare, who arranged the transaction alongside Newmark Senior Managing Director Kurt Montagano.

The Newmark Capital Markets team has closed on nearly 1 million square feet of cold space for storage during the last year+ in the higher Philadelphia marketplace including both handles Provender.

About Provender Partners

Provender Partners (http://www.provenderpartners.com) may be the leading Food Related Industrial Buildings investor in the U.S. and the only real investor 100% focused on FRIB. With property holdings through the entire USA, Provender Partners combines cutting-edge research and analysis with years of experience to guarantee the greatest value because of its clients atlanta divorce attorneys element of the FRIB business. Since inception in 2014, Provender Partners has acquired $620 million of refrigerated property totaling 6.5M SF; sold $555 million of property; and leased a lot more than 5 million square feet to clients offering Sprouts, Dollar General, Hello Fresh, Penske Logisitcs and Kraft Heinz.

Contact

Bruce Beck

DB&R MARKETING AND SALES COMMUNICATIONS, Inc.

@dbrpr.com

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