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| Scott Pertel |
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P.
(HFF) announces the sale of a 260,046-square-foot industrial cold storage
facility triple net leased to Preferred Freezer Storage in the Middlesex County
community of Perth Amboy, New Jersey.
The HFF team marketed the property on behalf of the seller.
Broadstone Net Lease, Inc. purchased the asset for an undisclosed price.
The property is fully occupied by Preferred Freezer Services, the
third largest refrigerated warehouse operator in North America.
Preferred
Freezer Services started in 1989, and this facility served as its original
operating location and continues to be a critical facility for the company’s
national operations.
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| Jose Cruz |
The facility features 10 million cubic feet of
freezer capacity with 24 loading doors and clear heights ranging from 28 to 42
feet in addition to containing the only Preferred Freezer Services facility in
the U.S. with a super freezer with temperatures of -60 degrees Celsius and the
only facility in U.S. to have an on-site “parts depot” where spare parts are
kept and maintained to be sent to other facilities around the country on short
notice.
Situated
on 9.59 acres at 536 Fayette Street in Perth Amboy, the facility’s location
provides multi-directional connectivity for local and regional distribution and
is proximate to some of the largest highways in the state, including Interstate
95 (New Jersey Turnpike), Interstate 287, the Garden State Parkway and U.S.
Routes 1, 9 and 35.
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| Marc Duval |
It is in the Northern New Jersey Industrial market and approximately 25 miles from the Port of New York and New Jersey, the largest port on the East Coast and the third largest port in the country.
The HFF investment advisory team representing the borrower
included senior managing directors Scott Pertel and Jose Cruz and
directors Jordan Avanzato and Marc Duval.
“Investors responded very favorably to this offering given the
uniqueness of the asset and the property’s superb location,” stated Cruz.
HFF and Holliday GP Corp. are licensed New Jersey real estate
brokers.
For more information, please contact:
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