Listing ID # 33681
A niche Cold Storage business with two locations in New Jersey. Started in 2016 and is at full capacity with pallets in the aisles. First facility holds over 2700 pallets with Fraiser racking stacked vertically 5 pallets high. It holds another 1000 pallets in the aisles and 300 in a refrigerated box for a total of over 4000 pallets. Product turns rapidly. Second facility sits close to ports and holds an additional 2500 pallets. Over 61,000 square ft of frozen and cold storage. Customers include fortune 500 companies, nationally known ice cream, seafood, meat, bread, pharma, ice pack manufacturers and e commerce meal delivery companies, etc. Extended leases with landlord incentives to update the facility. The business is run semi absentee. There is currently a 73,000,000 million square foot shortage of Cold Storage, which offers the perfect opportunity for rapid expansion. The owner has over 40 years' experience in the business and ls well known in the industry. He will assist and consult with the buyer to keep the facility full with plans for expansion. Seller turned away significant work and is looking to acquire a larger facility which will more than double its capacity. With the demand at an all-time high, it will fill within 6 months. This move will make this business a major player in the NJ market. This makes for a perfect opportunity for the buyer. Due to Covid the business has exploded with national companies desperately in need of frozen space. Seller deals with industry leading companies and manufacturers. Inventory turns and profits and have accelerated. Customers are asking seller to expand and add order fulfillment. There is also a large opportunity to offer trucking services to the current customer base. Seller is looking to retire, leayjng a huge opportunity for buyer. The numbers presented are trailing 12 months and will be verified in due diligence. Significant proof of funds and business background is required for a call or meeting with the owner. No bank financing by buyer will be considered. Seller win provide financing for the qualified buyer.
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