Property details

Mars Petcare Cold Storage Facility

Investment type

Net Lease

Asset Class

Industrial

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2017

Investment Summary

The property consists of a 465,256 square foot freezer/cold storage warehouse facility leased to Mars Petcare.

Mars is the world’s leading manufacturer of dry and soft pet food, soft treats, and dog biscuits. The property was originally developed in 1968 as a warehouse and distribution facility but underwent an extensive renovation in 2016 and 2017 into a food grade facility in accordance with Mars Petcare’s specifications. Renovations included the construction of a 168,245 square foot state-of-the-art Freon-based freezer facility, a substantial LED lighting system, and the latest technology in commercial food-grade equipment.

Syndicated structured its acquisitions as a Tenancy-in-Common to accommodate investors completing a Section 1031 Exchange.