Frozen Food Express Acquires 102,930 Square Foot Americold Building
Newmark Grubb ACRES is pleased to announce the acquisition of the Americold building to an entity associated with Frozen Food Express (FFE). This 102,930 square foot industrial/freezer building is located at 5787 West Harold Gatty Drive in Salt Lake City, Utah.
Jeff Heaton, CCIM, SIOR, of Newmark Grubb ACRES along with Patrick Ulch, CCIM, and Steve Willhite, SIOR, of Newmark Grubb Knight Frank Portland, represented the buyer, Frozen Food Express in the transaction. The seller was temperature-controlled warehousing, logistics, and transportation specialists Americold, who was represented by JLL brokers Andy Wheeler and Wick Udy.
FFE has been an industry leader in refrigerated transportation for over 65 years and has several locations throughout the country. This significant transaction originally began with FFE looking to acquire land on which they could construct a new facility to accommodate their storage of frozen food products, as well as a site that could accommodate their transportation of goods. In the end they were able to find an existing facility that met both needs at a price that was far less expensive than the prospect of buying land and building a new facility.
Regarding the deal, Heaton said, “This was a great transaction to be a part of! Between the seller, the client, and the national brokers from NGKF in Portland, Oregon, it was a great opportunity to maintain and establish new friendships while helping a client who operates at the highest level of professionalism.”