OAKLAND, CA—An added beneficiary of COVID clearly has been the cold storage product type. And, one investor continues to nab those types of facilities in the Bay Area and elsewhere. Provender Partners recently acquired two Oakland facilities totaling more than 160,000 square feet on 8 acres for approximately $26 million. The transaction adds to its acquired portfolio of more than 5 million square feet of refrigerated real estate throughout the United States.
Provender Partners purchased two properties, 860 and 940 on 81st Ave. Both facilities include freezer, cooler and dry storage, and are positioned near the Port of Oakland and Oakland International Airport.
While in escrow, Provender Partners secured a new seven-year lease to United Cold Storage, a San Francisco-based company offering frozen, refrigerated and dry storage space to small businesses.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
