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7/19/23
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A 52.5k sf cold storage facility in Fresno was purchased for $8.5 mil ($162/sf) by Southwest Traders, a leading supply chain solutions provider headquartered in Temecula. The property was sold by Florida-based industrial investment firm Mandich Group.
Located at 2539 E. Woodward Ave, the property was originally constructed in 1982 on a 1.21-acre lot. The single-building property includes a 39k sf freezer and was, at the time of marketing, 100% leased to United States Cold Storage, a provider of public refrigerated warehousing and related logistics services throughout the country. The property is within one mile of both the CA-41 and CA-99 freeways, connecting Fresno to the rest of California.
CBRE’s Mark Shaffer, Anthony DeLorenzo, Gerard Poutier and Bryan Johnson represented the seller in the transaction. Southwest Traders will utilize the property as its distribution hub to serve its clients throughout California.
Cold storage accounts for approximately 4.5 msf of the 84.5 msf Fresno industrial market, with a vacancy rate of 5.5%. Rents in this sector have grown nearly 30% over the past five years.
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