The owners of a cold storage facility in Lula, Georgia, inked a $78.5 million refinancing. RL Cold Storage and BGO delivered the 268,000-square-foot property in November 2024.
Commercial Edge reports QuadReal issued the debt in a deal arranged by Newmark. CJ Logistics fully leased the property. The warehouse features 38 dock doors and 38,259 pallet positions, as well as parking spots for 106 cars and 52 trailers.
The property is located at 3875 Cornelia Highway, approximately 62 miles northeast of downtown Atlanta. The cold storage warehouse is adjacent to the planned 104-acre Northeast Georgia Inland Port, which will provide a direct link to the Port of Savannah, Ga.
Newmark’s Nick Scribani, Blake Thompson, Jordan Roeschlaub and Jonathan Firestone arranged the debt on behalf of RL Cold and BGO.
Since forming their joint venture, BGO and RL Cold have built four cold storage facilities and are currently working on bringing another four online. The partnership has two other projects in the planning stages.
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