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| Kevin Ahaesy |
Oakland, CA – Avison Young, the world’s fastest-growing
commercial real estate services firm, announced today that it has completed an
eight-year lease with HelloFresh, Inc.,
a growing meal-delivery service, for a 109,594-square-foot (sf) industrial
freezer distribution facility in Richmond, CA. The lease is valued at
approximately $13 million.
Avison Young Principal Kevin Ahaesy and Associate JW
Krumpholz, who specialize in the sale and leasing of industrial property
and corporate food services, represented the building ownership, Highridge
Provender LLC, a Southern California-based real estate investment firm.
HelloFresh was represented by Colliers International.
Built in 2000 and expanded in 2005, the class A freezer
facility is situated on 7.62 acres and is located directly off Interstate 580
at 2041 Factory Street in Richmond.
The building features a 47-foot clear height freezer;
abundant trailer storage; a 100-foot deep refrigerated dock staging area; and
the capacity to store upwards of 10 million pounds of frozen product or 9,012
pallet positions.
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| JW Krumpholz |
Additionally, the property includes an on-site U.S.
Department of Agriculture (USDA) room and offers the ability to expand the
current facility by up to an additional 50,000 sf.
“This property offered HelloFresh a prime opportunity to
take its successful company to the next level as the combination of the
building’s strategic, central Bay Area location and state-of-the-art features
met all of the requirements to effectively serve the tenant’s present and
future needs,” comments Ahaesy.
Krumpholz adds: “There are only about five food-grade
buildings comparable to 2041 Factory Street in all of Northern California. This
niche property market is very tight and it is very rare for facilities like
this to become available as tenants tend to stay put for the long term.”
Ahaesy and Krumpholz represented Highridge Provender on
its purchase of the asset in December 2014, which was delivered vacant and
formerly occupied by Richmond Wholesale Meats. The acquisition marked the newly
formed Highridge Provender’s first acquisition.
For a
complete copy of the company’s news release, please contact:
Darcie Giacchetto
949.278.6224
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