Arctic Cold Acquires Cold Storage Facility From Greg Lehmkuhl Of Lineage Logistics For $60M In Santa Maria

The property involved in this transaction is a cold storage facility located at 1349 West La Brea Avenue in Santa Maria, California. The asset spans 10 acres and features a total square footage of 226,000. The sale was completed at a transaction price of $60,000,000, translating to $265 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $60,000,000
• Square Footage: 226,000
• Sale Price per Square Foot: $265
• Buyer: Arctic Cold
• Seller: Greg Lehmkuhl - Lineage Logistics
• Lender: UMB Bank
• Loan Amount: $30,000,000
• Market: Santa Maria

The transaction represents a strategic acquisition for Arctic Cold, enhancing its operations in California with the addition of a Class A facility. This facility supports frozen storage, food processing, and provides rail access, addressing the increasing demand for cold storage solutions driven by the growth of e-commerce grocery markets.