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5/25/21
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MAG Capital Partners LLC purchased a 38.3k sf cold storage warehouse facility in Phoenix in a sale/leaseback deal. The property, situated on 1.73 acres of land at 2721 W Willetta St, was sold by Lin’s Distribution Corp.
Built in 1980, 2721 W Willetta St is a cold storage warehouse property with five truck wells and two industrial GL doors. The multi-tenant facility is fully occupied by Lin’s, Red Bird Farms Distribution Company and Bon Suisse Inc, both of which are leaders in high order food fulfillment throughout the states of California, Arizona and Nevada.
Concurrent with the sale, Lin’s signed a long-term leaseback deal to continue to occupy the property. The transaction value was not given out.
Mary Garnett and Jim Tuesley of Barnes & Thornburg LLP represented MAG Capital Partners in the transaction. Oscar Lopez and Steve Lowe with Matthews Real Estate repped Lin’s Distribution Corp.
The deal comes as the global logistics sector undergoes dramatic change in the wake of significant shifts to the storage and distribution businesses for both perishable foodstuff as well as pharmaceuticals and medical supplies.
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