A large industrial warehouse and distribution center in Depew that is leased to a supermarket and retail products supplier has been sold for $8.3 million.
Foxfield Industrial, a real estate investment and operating company, has sold the 152,000-square-foot Bunzl Distribution Center facility at 3366 Walden Ave., to an unidentified private investor, according to international brokerage firm Jones Lang LaSalle, which arranged the deal and $5.1 million in long-term, fixed-rate financing from a life insurance company.
A record of the transaction has not yet been filed with the Erie County Clerk’s Office.
The light industrial facility includes 27 front-loading dock doors, 25-foot ceilings, a deep trailer court and office space. It is leased to Bunzl Midatlantic LLC, a division of Bunzl Distribution and Bunzl USA Holdings LLC, which has operated there since 2006. The St. Louis-based company is a subsidiary of London-based Bunzl Plc.
Bunzl Distribution supplies products such as food packaging, disposable paper supplies and cleaning and safety items to food processors, supermarkets, convenience stores, and nonfood retailers, among others. The company owns and operates more than 100 warehouses and employs more than 5,000.
Foxfield, which is a joint venture of Boston-based investment firm Novaya Real Estate Ventures and Foxfield Ventures, buys and runs industrial properties throughout the Mid-Atlantic and Southeastern United States.