US: Provender Partners buys New Hampshire coldstores

Londonderry, New Hampshire, USA: Provender Partners has acquired two Class A coldstores totalling approximately 316,000 square feet in Londonderry, NH in a $67m transaction.

Leased by ReallyCold, the sites serve 87 million people within a radius of about 500 miles.

Located less than a mile from Interstate 93, the 191,836-square-foot Class A cold storage warehouse at 219 Rockingham Road has 147,623 square feet of -10 freezer space, 7,689 square feet of -20 below freezer space, 10,200 square feet of refrigerated dock space and 7,224 square feet of office space. The 14.2-acre site has 24,000 pallet positions and includes 10 docks and 30-foot clear heights.  

The 124,100-square-foot Class A cold storage warehouse at 6 Rockingham Road, located a few minutes from the interstate, has 90,000 square feet of -10 freezer space, 14,120 square feet of refrigerated dock space, 6,000 square feet of cooler/freezer and 5,342 square feet of office space. Situated on a 12.86-acre site, the 20-year-old coldstore, which was expanded in 2005, has 14,000  pallet positions and includes 10 docks and 30-foot clear heights.  

“While there is tremendous demand, there is virtually no available freezer space in the Northeast US,” said Neil Johnson, chief executive, Provender.

“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 the region that serves more than 87 million people from Washington, DC, to Montreal and Boston to Pittsburgh, all located within a single day’s truck drive.”  

Located less than a mile from Interstate 93, the 191,836-square-foot Class A cold storage warehouse at 219 Rockingham Road has 147,623 square feet of -10 freezer space, 7,689 square feet of -20 below freezer space, 10,200 square feet of refrigerated dock space and 7,224 square feet of office space.

The food-related industrial buildings purchase comes on the heels of Provender Partners’ approximately $24m acquisition of a midwest industrial portfolio in January. The Orange County, California-based investor/ last year acquired two million square feet of food-related industrial buildings which increased its total assets acquired since inception to 6.5 million square feet. The firm also expanded its geographic footprint making first investments in Alabama, Iowa, Nevada, New Jersey and Utah.

www.provenderpartners.com

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