Lineage Logistics, a Colton, Calif.-based warehousing and logistics company sponsored by Bay Grove Capital LLC, San Francisco, acquired the real estate and assets of a facility located in University Park, Ill. Lineage has managed the operations at the facility on behalf of key customers since May 2009. Financial terms of the transaction were not disclosed.
Given its strategic location, UP serves as a key distribution facility in the Midwest for national food customers. Encompassing 518,000 square feet, the facility provides a breadth of service offerings, including temperature-controlled storage, import/export services, retail distribution, USDA on-site inspection and transportation services.
“From an operational perspective, owning this property provides long-term stability and allows us to further optimize operations for our customers,” says Kevin Marchetti, managing director for Bay Grove. “We are excited to add a high-quality, well-located building to Lineage’s expanding facility network.”
“Our team’s familiarity with UP’s operations and customers are second to none,” says Bill Hendricksen, chief executive officer of Lineage. “By taking ownership, we are able to invest in the facility to enhance our service for our customers.”