Sprouts Farmers Market Sells Distribution Center

Sprouts Farmers Market Sells Distribution Center



GLENDALE, AZ - It’s a news-heavy week for Sprouts Farmers Market, which just divested an Arizona-based cold-storage and distribution center for $17.4 million.

The space spans 128,929-square-feet, offering refrigeration and freezer space, heavy trailer parking, functional loading, and prime truck maneuverability.

The buyer of the property is a fund sponsored by CBRE Global Investors, which has been targeting cold storage as a subtype according to news source connect media. And, while it may be sold, it seems it will still be utilized to serve Sprouts' customers.

Cooper Fratt, Industrial Leasing & Sales First Vice President, CBRE“The property is well-located and leased to a leading grocer, Sprouts Farmers Market,” Cooper Fratt, Industrial Leasing & Sales First Vice President at CBRE, said in the report. “CBRE Global Investors saw an opportunity to purchase an asset class underserved in the Phoenix market. With a recent state-of-the-art expansion completed by ONE Properties, the facility should serve Sprouts’ cold-storage distribution needs for years to come.”

The space spans 128,929-square-feet, offering refrigeration and freezer space, heavy trailer parking, functional loading, and prime truck maneuverability (Image: CBRE)

CBRE Global Investors’ Kim Hourihan added that the entity is excited to expand its holdings in the sector with the asset addition.

This news is just the latest in a string of strategic moves from Sprouts Farmers Market, which just announced a new CEO last week. This month alone, the retailer kicked off a national hiring event from coast to coast while also continuing its expansion plans in the increasingly competitive Florida market. What will the next move in the buy-side be?

AndNowUKnow will be sure to let you know.

Sprouts Farmers Market