Westmount Realty Capital sells 1.13 million cold storage facility

Westmount Realty Capital and a fund managed by New York City–based DRA Advisors have sold a 1.13 million-square-foot state-of-the-art cold storage facility located in a key food distribution hub in Texas. Financial terms of the deal were not disclosed.

The facility, known as Dallas Food Center, spans 61 acres and includes four distribution buildings, two refrigerated warehouses and substantial trailer storage.

The property was originally built as a Safeway distribution center before it was renovated and expanded in 1970, 1972, 1996, 2006 and 2008. With access to three major interstates, the location has become a prime regional food distribution hub providing access to San Antonio, Houston, Austin, Oklahoma City and Tulsa, Okla. The site is also served by various rail lines.

“Westmount has had its pulse on industrial since the 1990s — long before the explosive growth we’ve recently seen in the cold storage and industrial markets,” said Cliff Booth, CEO