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Provender Partners Sells Metro Baltimore Food Distribution Center for $62M
Provender Partners has sold a 363,872-square-foot food distribution center in Severn, MD. Scout Capital Partners acquired the facility for $62 million.
Located at 8024 Telegraph Road, the tri-temperature food distribution facility is approximately 16 miles south of Baltimore. Provender Partners acquired the property in 2017 and invested several million in improvements and renovations as well as securing a seven-year lease with Nash Finch Co.
Bruce Strasburg, David Dannenfelser and Craig Childs of JLL and Chris Cummings of Colliers International represented Provender Partners and Scout Capital Partners in the transaction.
“The ability to acquire, enhance, lease and sell a facility of this size and significance in the Baltimore Washington Corridor is yet another example of surging demand for strategically located, quality cold storage facilities,” said Neil Johnson, CEO at Provender Partners. “As the industry pivots in response to ever-evolving market conditions, ‘last mile’ distribution to densely populated areas will play an increasingly important role in serving consumers across the United States.”
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