Seattle-basedSeafreeze Cold Storagesaid it received a $561,000 low-interest loan to improve energy efficiency at its 7 million-cubic-foot refrigerated facility in south Seattle. Officials said they expect facility and equipment upgrades to reduce energy use by 23 percent, approximately 3 million kilowatt hours per year. The loan is part of the State of Washington’s State Energy Program (SEP), which received federal funding through the “American Recovery and Reinvestment Act” (ARRA).
Seafreeze said its energy reduction project will feature (1) high speed doors to reduce cold air loss, (2) re-piping of the facility’s engine room to lower energy loss and (3) the installation of variable speed drivers to accommodate for changing energy needs.
Colliers Internationalsaid its Honolulu and Downtown Los Angeles offices collaborated to direct the sale of a refrigerated warehouse at91-315 Hanua Streetin Kapolei, Hawaii. At 189,000 square feet, Colliers said the property is the largest, single tenant cold/freezer food distribution facility in the state of Hawaii. The transaction was valued at $19.2 million.
The property, located in Campbell Industrial Park on O’ahu, traded fromTower Plaza Associates, LP, a private investor, toKDI Investments Inc. Officials noted that the seller had purchased the property in 2006 from a related company of Foodland Super Market, Ltd., Hawaii's largest, locally-owned and operated grocery retailer. The decision to sell was based on the seller’s desire to free up capital from some of its stabilized income properties. Officials said KDI Investments, a local family, acquired the high-yielding industrial complex to balance their portfolio of investments.
The property is occupied by a subsidiary of C&S Wholesale Grocers, the second largest grocery wholesaler in the United States.