BGO Pays $60M for Miami Cold Storage Facility

BGO Chilly Chain has bought Medley Chilly Logistics, a 178,000-square-foot Class A chilly storage facility in Miami. Truist Securities offered the asset for $60 million, in line with Miami-Dade County public information. JLL brokered the deal on behalf of the vendor.

BGO closed the deal as a part of its Core Plus technique. The property is absolutely occupied by Quirch Meals.

Medley Chilly Logistics is a one-story warehouse at 7600 NW 82nd Place. It has 116,000 sq. ft of freezer house, over 20,000 pallet positions, 32-foot clear heights, 29 loading docks and 236 car parking spots. The property additionally features a web site obtainable for additional growth or growth choices.

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The 15-acre property permits for entry to U.S. Route 27, Florida State Highway 826 and Interstate 75. Miami Worldwide Airport is 8 miles away, Port of Miami is 15 miles away and Fort Lauderdale-Hollywood Worldwide Airport is inside 37 miles from the chilly storage facility.

JLL Managing Director Luis Castillo, Senior Director Cody Brais and Affiliate Taylor Osborne led the Funding Gross sales and Advisory workforce that negotiated on behalf of the vendor.

BGO ramps up chilly storage investments

The Medley Chilly Logistics buy adopted BGO’s acquisition of SkyChefs Chilly Storage in 2023, a deal closed in three way partnership with Iconic Equities that provides to the corporate’s chilly storage footprint in Florida.

BGO has three tasks underway within the state—in Tampa and Jacksonville. The corporate’s portfolio contains over 70 chilly storage belongings bought or beneath development.

This week, BGO Chilly Chain began development on Enterprise Park Chilly at ISP in Lengthy Island, N.Y., in a three way partnership with Enterprise One. In September, it broke floor on a facility in Kansas Metropolis, Mo., which shall be largely occupied by Flora Meals Group.

In late 2023, BGO served as fairness companion within the recapitalization of a virtually 1.5 million-square-foot chilly storage portfolio, in partnership with Saxum Actual Property. The six services are in main distribution hubs within the nation and are largely occupied by Arcadia Chilly Storage & Logistics.