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Provender Picks Up Pair of Bay Area Facilities for $26M
Provender Partners acquired two facilities in the San Francisco Bay Area totaling more than 160,000 square feet and situated on more than eight acres of land in Oakland. Both facilities, 860 and 940 81st Avenue, include freezer, cooler and dry storage, and are ideally positioned near the Port of Oakland and Oakland International Airport. The buildings were acquired for roughly $26 million.
While in escrow, the Newport Beach-based buyer secured a new seven-year lease with United Cold Storage. CBRE’s Art Rasmussen and David Norrie handled both sides of the sales transaction, as well as the lease with United Cold Storage.
Provender Partners’ Neil A. Johnson says, “The fact that Provender Partners was able to lease the building while still in escrow is indicative of the lack of available refrigerated space in the Bay Area and beyond.”
The acquisition boosts Provender’s portfolio of refrigerated real estate throughout the United States to more than five million square feet.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition



