Provender Partners Acquires Midwest Food-Related Industrial Building Portfolio for $24M
Provender Partners, a food-related industrial buildings investor, has acquired a 469,673-square-foot tri-temp distribution portfolio that serves as the Midwest food and convenience channel supply chain for Core-Mark, in a $23.9-million transaction.
The portfolio comprises a 435,968-square-foot warehouse and distribution center in Carroll Iowa, and a strategic network of six support facilities that are 100% leased to Core-Mark, one of the nation’s largest wholesale distributors to the convenience retail industry, and a unit of The Performance Food Group. The warehouse and distribution center is located on a 49-acre site on U.S. Highway 30 East and features 296,968-square-feet of ambient warehouse, 95,118-square-feet of cooler/freezer and 30,444-square-feet of office space. It is central to the six cross-dock distribution buildings ranging in size from 2,500 to 4,000-square-feet in Iowa, South Dakota and Minnesota, allowing for 24-hour delivery across Core-Mark’s 12-state Midwest service area.