BGFP International
BG Capital has formed a new strategic real estate partnership with New Jersey based cold storage operator FreezPak Logistics to build cold storage facilties nationwide.
Background
Freezpak Logistics is one of the leading cold and dry storage businesses in the U.S. They currently have 44 Million Cubic feet in the Northeast strategically positioned in port centric locations with easy access to major highways. BG Capital and Freezpak joined a partnership (BGFPI) to build more than 200 million Cubic feet of cold storage warehouses nationwide, creating 310,000 pallet positions by the fourth quarter of 2024.
Sites Under Construction
Sf Under construction
Total Project value ($M)
New Permanent Jobs Created
Philadelphia Project
2201 E Allegheny Ave, Philadelphia, PA 19134
Houston Project
7818 Fisher Rd, Houston, TX 77041
Jacksonville Project
8370 Somers Rd S, Jacksonville, FL 32218
Locations
Philadelphia Project
2201 East Allegheny Avenue
Philadelphia, PA, 19134
Phase 1
Houston Project
Baytown Industrial Park
Houston, TX
Phase 1
Jacksonville Project
8370 Somers Road
Jacksonville, FL
Phase 1
Philadelphia Project
Site location: 2201 E Allegheny Ave, Philadelphia PA
Land Area: 7.1 Acres
Building Size: 172,000 SF
Clear Height: 67′
No. of Loading Docks: 20
Located in the Port Richmond neighborhood conveniently minutes away from the Market Frankford Line and less than a mile from Interstate 95 exit for easy commute and transportation. In just a few miles, the Wilmington and Philadelphia Ports are easily accessible. The cold storage unit has been funded $72.58 Million from Oceans First Bank and Nuveen Green Capital to finance the construction of the 172,000 SF facility.
- Largest C-PACE deal to date in Pennsylvania
- Building is 30% more efficient than required by Philadelphia’s building energy code
Construction Start Date: Q4-2022
Project Timeline: 20 months
Houston Project
Land Area: 30.5 Acres
Building Size: 543,770 SF
Clear Height: 67′
No. of Loading Docks: 4 Rail/64 Trailer
The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and essential economic engine for the Houston Region, the state of Texas and the U.S. Being the largest port in the gulf Coast and the biggest port in Texas, the Port of Houston has been instrumental in the city of Houston’s development for international trade. It is home to a multi-billion petrochemical complex, the largest in the nation and second largest in the world. Carrier services on all major trade lanes link Houston to international markets around the globe. The ship channel also intersects a very bust barge traffic lane, the Gulf Intracoastal Waterway.
- Number 3 U.S port in terms of total foreign cargo value
- 6th ranked U.S. Container port by total TEUs
- Largest Gulf Coast container port, handling 69% of U.S. Gulf Coast container traffic
Construction Start Date: Q4-2023
Project Timeline: 24 months
Jacksonville Project
Site location: 8370 Somers Road, Jacksonville, FL
Land Area: 20.5 Acres
Building Size: 272,400 SF
Clear Height: 67′
No. of Loading Docks: 26
Located in the Southeastern U.S. at the crossroads of the nation’s rail and highway network, the Jacksonville Port Authority (JAXPORT) is your global gateway to Florida, the nation’s third-largest state. JAXPORT is Florida’s largest container port and one of the nation’s largest vehicle-handling ports. Dozens of ocean carriers call at JAXPORT , offering you competitive transit times to 140 ports in more than 70 countries. JAXPORT offers shippers seamless transportation via 100 trucking firms and 40 daily trains via Class I railroads CSX and NS and regional rail line FEC.
- 42M+ cubic feet of refrigerated warehousing
- 100,000+ pallet positions of chilled warehousing space
- 1,600+ reefer plugs on dock
Construction Start Date: Q4-2023
Project Timeline: 24 months
press Release
A huge cold food warehouse is coming to Port Richmond
FreezPak, which deals in frozen food for stores and restaurants, plans to open an 172,000-square-foot facility.
Developer lands $72.6M in financing for Philadelphia cold storage warehouse
A planned cold storage warehouse in Philadelphia’s Port Richmond neighborhood has secured $72.6 million in financing, clearing the way for development of the project get underway.
BG Capital, FreezPak Logistics Get $73M for Philadelphia Project
FreezPak Logistics, through their new partnership, BGFP International, has landed construction financing in the amount of $72.6 million for a new cold storage facility in Philadelphia.
BG Capital, FreezPak Team on $3B Cold-Storage Expansion
Philadelphia-based BG Capital and NJ-based FreezPak Logistics are partnering to build up to $3B worth of new cold-storage industrial space in port-centric markets across the US.