JLL Capital Markets closes sale-leaseback of Quirch Foods facilities in Miami, FL and Hammond, LA

 

 Max La Cava

 

MIAMI, Sept. 13, 2022 – JLL Capital Markets announced today that it has closed the sale-leaseback of two mission-critical cold storage facilities totaling 262,904 square feet in Miami, Florida and Hammond (New Orleans MSA), Louisiana.

Miami, FL cold storage on  15 acres
at 7600 NW 82^nd place 

JLL represented the seller, Quirch Foods, in the sale to an undisclosed third party. Quirch Foods occupies both facilities. The price was not disclosed.

Brian Shanfeld

The first property, which is located on 15 acres at 7600 NW 82^nd place in Miami, totals 178,428 square feet.

 

 The Miami facility has excellent access to Florida’s Turnpike, US-27, and State Road 826 (the Palmetto Expressway), and is proximate to Miami International Airport and the Port of Miami.

 

Situated on 19.4 acres at 11502 Scariano Lane in Hammond, the second building totals 84,476 square feet.

Jason Dewitt

The facility is located near the intersection of Interstates 12 and 55 and has efficient access to several Gulf Coast ports.

 

The JLL Capital Markets team representing the seller was led by Director Max La Cava, Senior Managing Director Brian Shanfeld, Managing Directors Jason Dewitt and Luis Castillo and Vice President Steven Okon.

 

“Cold storage industrial remains a heavily in-demand asset class among investors," La Cava.

Luis Castillo

"Moreover, long-term leased product provides investors with attractive yields and surety of cash flow.

 

 "Despite broader market volatility that occurred over the summer, JLL saw a remarkable level of interest from an array of investors that aggressively pursued the opportunity.

 

 “The transaction achieved the dual-mandate of allowing Quirch Foods to unlock significant capital, while maintaining operational control of two mission-critical distribution centers.”

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Steven Okon

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

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CONTACT:

 

Cierra Lacasse

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com