Acquisition Announcement: Provender Partners Acquires Two Chicago – Area Processing Facilities
Two Acquisitions Expand Provender Partners Portfolio and Help With Shifts in Food Supply Chain Dynamics
Provender Partners today announced it has acquired two facilities in the Chicago area totaling more than 220,000 square feet of space and land at properties in the Chicago-area market, adding to its portfolio of more than 5M SF of refrigerated real estate throughout the United States.
Provender Partners has acquired a food processing facility located in the O’Hare submarket at 5420 St. Charles Road in Berkeley, Illinois. The 141,000 SF facility is currently 100% leased to Preferred Meals, Inc., a leading provider of fresh- and frozen-prepared snacks and meals to schools for more than 45 years.
In the second transaction, Provender Partners successfully acquired a meat processing facility at 525 West Crossroads Parkway in Bolingbrook, Illinois. The 80,000+ SF processing facility includes production, cooking, smoking and freezer space. This location is ideally positioned within the “Silicon Valley of Food & Beverage” near companies such as Mars, Wrigley, ConAgra and others. It is currently available for lease.
“We are pleased to announce the acquisition of these assets into our portfolio,” said Neil A. Johnson, Founder & CEO of Provender Partners. “Our proprietary database of available buildings shows close to zero supply of protein processing facilities currently on the market. The acquisition of a vacant protein processing plant in Illinois will be a perfect fit for protein processors seeking additional facilities and a labor pool to support it.”
In the last six weeks, Provender Partners has sold a $90M+ asset in Texas; leased a 267,000 SF building to Dollar General; and acquired an additional 220,000 SF of processing facilities in Illinois.
Provender Partners 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. In the past five years, Provender Partners has acquired nearly $500 million of refrigerated real estate totaling 5M SF; sold $430 million of property; and leased more than 4M SF to clients that include Sprouts, Hello Fresh and Kraft Heinz.