Provender Partners Leases Maryland Food Distribution Center to Nash Finch Company
Premier Refrigerated Real Estate Investor in the U.S. Secures 7-Year Lease with Fortune 500 Company
Provender Partners today announced it has secured a 7-year lease with Nash Finch Company, a Fortune 500 company involved in food distribution primarily to independent supermarkets.
Nash Finch Company has leased the entire 363,872 SF freestanding food distribution center located at 8024 Telegraph Road, Severn, Maryland. Ideally positioned near the Baltimore Washington Corridor, the tri-temperature food campus offers freezer, cooler and ambient temperature warehouse space.
The total lease consideration is $25.760 million.
David Dannenfelser of Jones Lang LaSalle and Chris Cummings of Colliers International handled both sides of the transaction.
“The Mid Atlantic Food Center provides access to more than 9 million people living in the Baltimore Washington Corridor,” says Neil A. Johnson, Founder & CEO of Provender Partners. “A 7-year lease with a company of this size provides further evidence of the need to provide ‘last mile’ distribution to densely populated areas of the United States. As our country experiences unprecedented food supply challenges, unique solutions are required to prevent further disruptions to both consumers as well as our farmers and food industry workers.”
The transaction marks Provender’s third large-scale lease in 2020, its most active year since the company was founded in 2014. In the past eight months, Provender Partners has sold more than $150 million in assets; acquired two processing facilities totaling 214,000 SF in Illinois and another 161,000 SF of refrigerated real estate in Oakland. Additionally, Provender has leased a 267,000 SF building to Dollar General; two buildings totaling 161,000 SF to United Cold Storage; and now a 363,872 SF building to Nash Finch Company.