BGO and Banner acquire Opa-locka cold-storage facility
BGO and Banner announced an acquisition of a fully leased cold-storage facility in Opa-locka, with freezer, cooler and ambient space on a 12.6-acre site.
Key Takeaways
- •BGO and Banner Property Group announced the acquisition on Oct. 19; the announcement does not state a closing date.
- •The buyer describes an approximately 160,000-square-foot facility on 12.6 acres, fully leased to a food distributor.
- •Connect CRE identifies Quirch Foods as tenant; price and lease terms were not confirmed in the accessible primary material.
BGO and Banner Property Group announced on Oct. 19 that they acquired 12345 NW 38th Avenue in Opa-locka, an existing cold-storage facility they describe as approximately 160,000 square feet. The property is fully leased to a food distributor, the buyer said. BGO acquisition announcement
Connect CRE’s Oct. 20 report identifies the tenant as Quirch Foods and names Realterm Logistics as the seller. The BGO announcement describes the occupant only as a food distributor, so the tenant identification comes from the separate trade report. Connect CRE transaction report BGO acquisition announcement
A temperature-controlled facility
The property sits on approximately 12.6 acres and contains freezer, cooler and ambient storage space. BGO says the facility was developed between 1983 and 1987 and expanded in 2004. Those details describe the existing building; the announcement does not specify new construction or an expansion plan tied to the acquisition. BGO acquisition announcement
BGO’s release says JLL advised the seller and arranged acquisition financing. Connect CRE also reports JLL’s role and identifies Realterm Logistics as the seller. Neither source gives the purchase price in its accessible article text. BGO acquisition announcement Connect CRE transaction report
A local logistics asset
The buyer describes the site as close to Interstate 95, Interstate 75, Florida’s Turnpike, Miami International Airport, Fort Lauderdale-Hollywood International Airport, PortMiami and Port Everglades. That is the company’s account of the property’s access, not an independent assessment of travel times or freight capacity. BGO acquisition announcement
The facility’s existing lease and combination of temperature-controlled and ambient storage establish its current use, but the public materials reviewed do not disclose the lease term, rent, tenant’s space allocation or how much inventory moves through the site. The acquisition alone does not establish an effect on food prices or availability.
South Florida Business Journal published a separate Oct. 22 report, but its full text was not accessible for review. This account therefore does not use a transaction price or a precise floor-area figure beyond the approximate size reported by BGO and Connect CRE. South Florida Business Journal report BGO acquisition announcement Connect CRE transaction report
The acquisition adds an existing, fully leased cold-storage property to BGO and Banner’s portfolio. Any change in operating capacity, investment at the facility or future lease plans remains unreported.
