RICHLAND, WA—An affiliate of Lexington Realty Trust has closed on the acquisition of a newly constructed 456,412 square-foot state-of-the-art automated public frozen foods warehouse and distribution facility located on a 43-acre parcel of land in Richland.
The property is leased to Preferred Freezer Services of Richland LLC with a guaranty of lease obligations by Preferred Freezer Services, LLC and Preferred Freezer Services Operating, LLC.
The main customer at this facility is ConAgra's Lamb Weston who will store and distribute potatoes that come from nearby processing plants.
Lexington continues to be very active in the single-tenant market, including direct corporate sale-leaseback transactions and providing developers up to 100% construction/takeout financing on build-to-suit transactions. The firm says it has capital available for the purchase and finance of single-tenant investments and plans to make additional acquisitions and investments in the market.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
