The Garland asset was constructed in stages beginning in 1970 and was once the site of Fleming's distribution efforts. When Fleming ended up in Chapter 11, C&S Wholesale Grocers Supply of Vermont took over. The industrial property changed hands in 2003, with Houston-based Grocers Supply acquiring it. The site, at one time, also housed Home Depot Inc. (which had a short-term, 235,000-square-foot lease during the mid-2000s). It also served as a distribution point for Safeway Inc. (and its Tom Thumb stores).

These days, the tenant roster includes Calvo Growers; La Bodega Meat Inc.; Falcon Farms; Navistar Inc. and Provide Commerce Inc. Not all the tenants are food-related – Falcon Farms and Provide Commerce are both in the floral business, for example -- and Booth says Westmount is targeting other potential industrial users as well.

He does explain, however, that there are several important differences between a food-related distribution/warehouse facility and a standard one. For one thing, more acreage and plenty of space for trucks is important, as is more dock doors. Ceiling height is less important, but location is paramount. "If you're a food distributor and have a high velocity of goods, you don't want to be a mile or two away from a highway or in the interior of an industrial park," Booth comments. "You want to be right on that freeway. Big turns for trucks and red lights can cost you money."

In addition to upgrading its newest acquisition, Westmount Realty is seeking out similar industrial assets and has an offer on another one. Booth says the Charlotte property proved that, even in the depths of poor economic times, people still need to eat, and food distribution still needs to take place. "The need for these types of facilities increased during tough times, and that was a driver for us," he adds.