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BGO, Banner Acquire 160K-SF Opa-Locka Cold Storage Facility
BGO and Banner Property Group acquired 12345 NW 38th Avenue in Opa-Locka, Florida, an existing, approximately 160,000-square-foot cold storage facility within the North Miami submarket. Realterm Logistics was the seller. It paid $26 million for the property in 2020. The property is fully leased to Quirch Foods. JLL advised seller and arranged acquisition financing for the transaction.
The facility was originally developed between 1983 and 1987 and expanded in 2004. The property sits on approximately 12.6 acres and includes a mix of freezer, cooler and ambient storage space designed to support temperature-controlled food distribution operations.
Founded in 2021, Banner Property Group has extensive experience investing in and operating cold storage properties. The firm has an existing footprint in Florida, including temperature-controlled food distribution facilities, providing localized operating knowledge to the partnership.
BGO’s Cold Chain subsidiary is amongst the largest cold storage investors in the world, with approximately 30 million square feet of transaction activity since 2015.
- ◦Sale/Acquisition
