Provender Partners Completes 469,000-SF Tri Temp Industrial Real Estate Portfolio Buy

Nearly $50 million transaction includes assets in Dallas, TX; St. Louis, MO; and Kissimmee, FL Provender Partners has closed on a 185,569-square-foot cold storage facility in Dallas, TX, the third and final piece of a 469,000-square-foot, tri-temp real estate portfolio acquired from an undisclosed national food service company for nearly $50 million. The Seller will lease back the three buildings in Dallas, TX; Kissimmee, FL; and St. Louis, MO for the next two years, as it completes construction on three new larger facilities in those markets. “After demonstrating our ability to execute on the Kissimmee facility earlier this […]

Provender Partners Leases Up Vacant Lakeland, FL Refrigerated Facility Acquired in October

Provender Partners has signed Farm Cut, LLC, a unit of Boyton Beach, FL global produce distributor South Florida Produce, to a lease to occupy an entire 42,423-square-foot, rail-served refrigerated distribution facility in Lakeland, FL. Provender acquired the vacant facility at 5300 Great Oak Drive in late October, which marked the firm’s entry into the Florida market. The lease signing comes only months after the food-related building investor completed a renovation of the 1980s’ vintage building which included a refrigeration refit, roof repairs, and interior and exterior upgrades. The 100% temperature-controlled building is located on a 4.14 acre lot, […]

Provender Partners Recapitalizes One Million-Square-Foot Cold Storage Portfolio with StepStone Real Estate

Recap seeds investment program to acquire and develop food-related assets throughout the United States. Provender Partners (Provender) and StepStone Real Estate (SRE), the real estate arm of private markets investment firm StepStone Group (Nasdaq: STEP) have completed a $158 million secondary and recapitalization of a one-million-square-foot cold storage portfolio with assets in the high-growth industrial markets of Oakland, CA; Las Vegas, NV; Berkeley, IL; Bolingbrook, IL; and Birmingham, AL. Provender acquired the properties over the last three years in a joint venture with a global investment management firm that recently sold its interests to SRE on a secondary […]

Provender Partners Acquires 483,000-Square-Foot Food Related Industrial Portfolio

Provender Partners has acquired a four-property food production and distribution portfolio totaling 483,000-square square from SpartanNash for $29.9 million. The portfolio is made up of four temperature-controlled buildings: • 171,371-square-foot refrigerated food processing and distribution facility in Indianapolis, IN; • 160,986-square-foot refrigerated food distribution facility in Minot, ND; • 103,838-square-foot grocery/produce distribution cross dock facility in Newcomerstown, OH; and • 42,124-square-foot, rail-served frozen and refrigerated distribution facility in Lakeland, FL. Built between 1990 and 2005, each of the fully fenced secure buildings in the portfolio feature 30’ or more clear heights, ample loading with as many as 51 […]

Provender Partners Acquires Second Temperature Controlled Food Related Facility in Philadelphia Metro

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 provides fresh and prepared foods for retailers throughout the Mid-Atlantic states through its fresh food division Sunnyside Farms, will continue to occupy 100 percent of the building for the next five years under 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 […]

Provender Partners Acquires Two Food-Related Industrial Buildings in New Hampshire

The cold storage warehouse acquisitions provide a strategic opportunity to support a distribution system that serves over 87 million within a day’s drive. 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, New Hampshire $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 -100 […]

Provender Partners Acquires Midwest Food Related Industrial Building Portfolio

Acquisition provides strategic opportunity to support distribution system critical to the food supply chain. Provender Partners, a leading food-related industrial buildings investor, has acquired a 469,673-square-foot tri-temp distribution portfolio that serves as the Midwest food and convenience channel supply chain for Core-Mark, in a $23.975 million transaction. The portfolio comprises a 435,968-square-foot warehouse and distribution center in Carroll IA, and a strategic network of six support facilities 100 percent leased to Core-Mark, one of the nation’s largest wholesale distributors to the convenience retail industry, and a unit of The Performance Food Group. The warehouse and distribution center is […]

Provender Partners Acquires 570,000 Square-Foot Temperature Controlled Facility in Chicago MSA

Firm grows Chicago food-related industrial real estate portfolio to nearly one million square feet in 18 months. 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 […] Cold Storage Firm Wants To Solve The Food Supply Chain’s Biggest Problem

U.S. supply chains suffered massive disruption in the wake of the coronavirus pandemic. Vulnerabilities across different sectors were suddenly highlighted, including the fragility of essential food production, storage and consumption. As restaurants closed their doors to dine-in customers, demand for bulk ingredients began to fall. The food service companies that supply restaurants cut back on orders from farms, but the production of agricultural goods continued. Farmers typically provide their products to processors and food service companies in bulk. But the food supply chain’s inability to pivot from bulk packaging to consumer-sized packaging meant that the surplus of products […]

Birmingham Business Journal: Provender Partners investing $9M for Birmingham renovation, eyes potential new development

A California investor in food-related industrial buildings is making a big investment in its new property in Birmingham. Provender Partners is investing $9.1 million in a renovation project at 400 Industrial Drive, Unit 1, after acquiring the property for $20.2 million last month. Design-build construction company Primus Builders, which is based in Woodstock, Georgia, is the general contractor on the project. The building includes 230,000 square feet of cooler space and 185,000 square feet of freezer space. Provender Partners is also looking into developing about 20 acres of vacant land on the site for additional cold storage space, […]