San Francisco, CA December 22nd, 2011 – Bay Grove, a principal investment firm based in San Francisco today announced that it has acquired a cold storage warehouse facility located in Santa Maria, California (the “Property”). The Property is located on a 27 acre site and consists of approximately 335,000 square feet of cold storage and processing space. The Santa Maria facility will operate within Bay Grove’s existing family of cold storage companies, which includes Terminal Freezers, Flint River Services, Richmond Cold Storage and West Coast Cold, the parent of CityIce and Seafreeze Cold Storage. These companies have a total combined capacity of over 130 million cubic feet (5 million square feet), implying a rank of 5th on the International Association of Refrigerated Warehouses (IARW) North America Top 25 List. Financial terms of the transaction were not disclosed.
“This facility will serve as a primary platform for future expansion to accommodate growth and enhance our footprint in California’s central coast region. We are excited to work alongside existing and new customers to ensure the success of this facility,” said Kevin Marchetti, Managing Director of Bay Grove.