Holliday Fenoglio Fowler, L.P. (HFF) announced that it has closed the $33 million sale of a 128,200-square-foot, Class A, cold-storage industrial facility that’s been 100 percent leased to Preferred Freezer Services in Chicago, Illinois.
HFF marketed the property to a limited number of qualified investors on behalf of the seller, Romel Enterprises, LLC. AAG Management purchased the asset free and clear of existing debt.
Completed in 2003, the one-story building features 6.6 million cubic square feet of freezer capacity; a 22,200-square-foot refrigerated loading and unloading dock; U.S.D.A, F.D.A and U.S.D.C. designated inspection areas; HACCP certification; 16 dock doors with levelers and seals; a 100-percent-diesel backup generator to run the entire facility; private QA laboratories for on-site sampling and 24-hour security. Situated on six acres at 2500 South Damen Avenue in southwestern Chicago, the location provides access to rail and interstate systems, including Interstate 55. Additionally, the facility is 21.3 miles from Chicago’s O’Hare International Airport.
The HFF investment sales team representing the seller was led by director Jordan Angel, managing director Patrick Sullivan and real estate analyst Ryan Chambers.