Barber Partners has obtained a $59.8 million refinancing on a 303K-SF cold storage property in Denton, Texas. Commercial Edge reports Barings provided the variable-rate note.
Barber Partners and Bain Capital teamed up on the project in 2022. The duo formed a joint venture that operated under the name Chill Storage, developing nearly 15 Class A cold storage warehouses.
Completed in 2023 at 2500 Interstate 35 W., the temperature-controlled warehouse features 50-foot clear heights, divisible freezer spaces, a nearly 3,360-square-foot office suite, 39 dock-high doors, two ramps, LED lighting with motion sensors and refrigeration systems that range from -10 to +70 degrees Fahrenheit. The property also has 119 vehicle parking spots and 59 trailer parking spots, with the option of expansion.
The former Chill Storage, now called Chill Development, occupies part of the warehouse. CBRE’s Kevin Kelly is the property’s leasing broker.
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