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Americold Pays $480M for NJ Portfolio
Atlanta-based Americold Realty Trust recently acquired South Plainfield, NJ-based Hall’s Warehouse Corporation from the Jayne family for $480 million. The Hall’s portfolio consists of eight facilities in Northern New Jersey, totaling 58 million cubic feet and 200,000 pallet positions.
The fully integrated portfolio serves 220 customers and is 95% occupied. All facilities are located within 15 miles of each other and 30 miles from the Port of Newark. Five of the facilities are owned, with the remainder leased, and the portfolio is complementary to Americold’s current and growing footprint in the Pennsylvania and New Jersey markets.
“This portfolio complements our growing scale in a key market that is located within one day’s drive of approximately 30% of the population in the United States,” said Fred Boehler, Americold’s president and CEO.
Photo courtesy of Hall’s Warehouse.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
