Yukon Real Estate Partners and BGO Sell New Century Cold Storage Facility to a MetLife Investment Management Client

Yukon Real Estate Partners and BGO announced the sale of New Century Cold Storage, a newly built 291,000-square-foot, plant-attached, rail-served cold storage warehouse in New Century, Kansas, to a MetLife Investment Management client. The facility, owned and co-developed through a joint venture between Yukon and BGO, was purpose-built as a plant-attached, build-to-suit warehouse for CJ Logistics America.

"This project reflects what is possible when a strong tenant relationship, a sophisticated logistics requirement, and the right public-sector partnership come together around a purpose-built solution," said Mark Winter-Gitelson, Principal and President of Yukon Real Estate Partners. "We are proud to have helped deliver a modern cold storage facility at New Century AirCenter that leverages the region's transportation and logistics infrastructure, and creates long-term value for Johnson County, its workers, and its taxpayers," added Axel Anderson, Head of Development at Yukon.

"New Century Cold Storage is a strong example of BGO's cold storage investment thesis in action: institutional capital, specialized development execution, and a critical asset backed by long-term food logistics demand," said Kevin Rivest, Managing Partner, BGO. "Modern, high-performance cold storage real estate has become critical backbone infrastructure for American industry. With its purpose-built design, strategic location, and direct integration with food production and logistics operations, we believe this facility will make a meaningful contribution to the strength and resilience of U.S. food supply chains for decades to come."

The New Century facility is located within Johnson County Airport Commission's New Century AirCenter industrial park, with a direct rail spur to the building and access to the BNSF Railway transcontinental intermodal facility. The property is positioned less than four miles from Interstate 35, providing over-the-road reach to approximately 85% of the U.S. population within two days.