Bay Grove Capital, a principal investment firm based in San Francisco, has acquired a cold storage warehouse facility located in Santa Maria, California.
The Property is located on a 27 acre site and features approximately 335,000ft2 of cold storage and processing space. The Santa Maria facility will function 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.
Financial terms of the transaction were not disclosed.
Bay Grove managing director Kevin Marchetti said this facility will serve as a primary platform for future expansion to accommodate growth and enhance the company's footprint in California's central coast region.
"We are excited to work alongside existing and new customers to ensure the success of this facility," Marchetti added.
