Americold Realty Trust announced a new five-year triple net lease with Target Corporation for approximately 100,000 square feet of space at the company’s Phoenix AZ temperature-controlled warehouse. The facility, located at 455 South 75th Avenue, will serve as a regional cold-storage and distribution center for Target Corp in support of its frozen food business.
The lease commenced May 1, 2010, and brings the building to 100% occupancy.
“We are very pleased to add Target Corporation to the list of tenants for which we provide dedicated cold storage space,” said Neal Rider, chief operating officer and president of US Business of Americold.
Founded in 1931, Americold Realty Trust is focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses. The company owns and operates specialized cold storage warehouse properties in key distribution and regional centers throughout the United States. Americold’s warehouses are an integral part of the supply chain linking food producers, distributors, and retailers that store products in temperature-controlled warehouses and use related services for frozen and perishable food products such as frozen entrees, meat, seafood, fruits, and vegetables.
Headquartered in Atlanta GA, Americold stores more than 4 billion pounds of temperature-controlled product per year.
For more information, visit www.americoldrealty.com.