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$85.4m sale completed for a mission-critical cold storage facility in Virginia
Transactions - APRIL 17, 2024

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$85.4m sale completed for a mission-critical cold storage facility in Virginia

by Released

Scannell Properties has sold Performance Food Group @ Cardinal North, a 328,335-square-foot, mission-critical cold storage and distribution facility in Glen Allen, Va.

JLL worked on behalf of the seller and procured the buyer. The sales price was $85.4 million.

Fully leased to Fortune #91 Performance Food Group Company, this mission-critical facility delivered in 2023 and features state-of-the-art infrastructure, including 160,000 square feet of freezer/cooler space; a nearly 10,000-square-foot, stand-alone vehicle maintenance facility and fueling facility; a 32-foot clear height; 52 fully fit-out dock-high doors; and 138 supplemental trailer storage spaces. The facility sits on a 59.3-acre parcel with room for two expansion areas to increase the under-roof area by up to 40 percent.

Strategically located less than one mile from Interstate 95, efficiently connecting the facility to the entire East Coast, PFG @ Cardinal North benefits from premier accessibility

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