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BG CAPITAL & FREEZPAK PARTNER ON $3B EXPANSION

Philadelphia-based BG Capital will partner with FreezPak Logistics, Carteret, N.J., to build more than 200 million cubic feet of cold storage space worth up to $3 billion in port-centric markets across the United States. Under terms of the agreement, BG Capital will build the warehouses and FreezPak will take long-term triple-net leases on them.

The partners broke ground last month on an $85 million cold storage warehouse in Philadelphia’s Port Richmond section that’s expected to span 170,000 square feet. The two also plan to build facilities in Houston and Jacksonville, Fla.

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