August 11, 2020
Provender Partners sold two cold storage distribution centers totaling more than 500,000 square feet in San Antonio and the St. Louis metro area for a combined $64 million to an undisclosed buyer. Both have 10-year leases to Dollar General for its DG Fresh initiative.
The St. Louis distribution center is 232,556 square feet and is located at 7101 Hazelwood Ave. in Berkeley, MO. The San Antonio center is 267,702 square feet and is located at 5505 Kaepa Ct.
Guy Ponticello and Robert Gibson of CBRE and Scott Delphey of Food Properties Group represented Provender Partners.
“As demand for infill cold storage facilities grows, assets like these will become more valuable in light of limited supply and high build costs,” said Provender Partners’ Neil A. Johnson. “Both of the properties feature strong surrounding demographic profiles, coupled with tenancy from an investment grade rated corporation, they offer a unique and compelling investment.”
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