Cold Storage Sale Leaseback Portfolio

Two Properties in Central Washington
Deal Type:
Sale Leaseback
Price:
$20,025,891
Cap Rate:
6.60%
Current Rent:
$1,321,709
Lease Type:
Triple Net
Lease Term:
20 years
Landlord Responsibilities:
None
Rent Increases:
2.0% Annual
  • industrial sale leaseback stream capital partners
  • industrial sale leaseback stream capital partners
  • industrial sale leaseback stream capital partners
  • industrial sale leaseback stream capital partners
  • industrial sale leaseback stream capital partners
  • industrial sale leaseback stream capital partners

Investment Highlights

  • Long-term absolute triple net lease with annual rent increases
  • Facilities are located in the heart of the Yakima Valley, the epicenter of the tree fruit industry in the United States
  • Subject properties are high-quality, well-maintained, cold storage facilities with controlled atmosphere (CA) capabilities
  • Robust demand from local operators for controlled atmosphere storage units, as well as limited supply of this product in the market
  • Market with significant tenant density of produce and fruit producers and packers
  • Supply-constrained market with only 3.2 million bins worth of controlled atmosphere (CA) space that produce over 7 million bins annually for fresh production
  • Growing industry as Washington state is taking fresh apple and pear market share from other producing states
  • Facilities benefit from an on-site experienced operator
  • Proposed facility rents are below market for CA space and are easily replaceable as local CA space leases for $26 per bin

Listing Agents

Chelsea Mandel

Senior Vice President
516 850 6962
Chelsea@stream-cp.com
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