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CBRE Helps Spin Off Two Western Region Cold Storage Buildings
A newly renovated 78,000 square foot cold storage building was sold in Boise, Idaho. It traded for $17.75 million, or $227.50 a square foot. The property was fully leased to four tenants.
The seller had made numerous interior and exterior improvements to the property, including a new insulated roof, upgrade freezer/cooler space. A group of CBRE agents represented the seller, Emerald Town LLC. They also secured all of the tenants within the last year.
CBRE also aided in the sale of a warehouse cold storage building on four acres in Loveland, Colorado. The sales price of the 31,600 square foot building was $6 million, or $190 a square foot. The buyer plans to convert the property, which is currently a single tenant building, into a third party warehouse (3PL).
The existing tenant is scheduled to leave in June. CBRE’s Jared Goodman represented the seller.
- ◦Sale/Acquisition
