Provender Partners today has sold two grocery distribution centers totaling more than 500,000 square feet of space in St. Louis, Missouri, and San Antonio, Texas.
Provender purchased both properties in 2019, investing more than $6 million in extensive improvements and renovations to the distribution centers before securing 10-year leases from Dollar General in both locations. With freezer, cooler and dry storage, the properties are part of Dollar General’s new DG Fresh initiative to bring logistics capabilities in-house, seeking further control over its operations as it expands into the fresh and frozen food categories.
The St. Louis distribution center is 232,556 square feet and is located at 7101 Hazelwood Ave. in Berkeley, Missouri. The San Antonio center is 267,702 square feet and is located at 5505 Kaepa Court in San Antonio.
Both were purchased for nearly $64 million. Guy Ponticello and Robert Gibson of CBRE and Scott Delphey of Food Properties Group represented Provender Partners.
The sale is the latest in recent Provender Partner transactions. This year, the company sold a $90 million+ asset in Fort Worth, Texas; leased a 267,000-square-foot building to Dollar General; and added two processing facilities — 220,000 square feet in Illinois and 161,000 square feet in Oakland — to its portfolio.
