CHICAGO—Romel Enterprises, LLC has just sold its class A, cold-storage industrial facility at 2500 S. Damen Ave. to AAG Management for $33 million. The 128,200 square-foot building is 100% leased to Preferred Freezer Services.
Holliday Fenoglio Fowler, LP marketed the property to a limited number of qualified investors on behalf of the San Mateo, CA-based Romel. The New York-based AAG purchased the asset free and clear of existing debt.
Completed in 2003, the one-story building features 6.6 million cubic square feet of freezer capacity; a 22,200 square foot refrigerated loading and unloading dock; USDA, FDA and USDC designated inspection areas; HACCP certification; 16 dock doors with levelers and seals; a 100% diesel backup generator to run the entire facility; private QA laboratories for on-site sampling and 24-hour security.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
