Connect CRE: Medley Cold Storage Warehouse Trades for $60M
A cold storage warehouse in Medley, Florida, leased by Quirch Foods, has been sold for $60 million to BGO, the real estate investment arm of Sun Life Financial. The 177,893-square-foot facility, located on a 15-acre site at 7600 N.W. 82nd Place, was previously owned by SunTrust Equity Funding. This transaction, priced at approximately $337 per square foot, highlights the strong demand for cold storage facilities equipped with expensive refrigeration and cooling systems.
Built in 2001, the warehouse is a key investment for BGO Cold Chain, which has executed over 30 million square feet of transactions since 2015. Quirch Foods, the primary tenant, continues to operate from the facility, ensuring its ongoing utility. The property was last sold in 2022 for $59.42 million by Quirch Foods.
