Atlas sells plant, starts operating another
Jun 1, 2006 12:00 PM
Atlas Cold Storage Income Trust has sold its Phoenix AZ cold storage plant for about $2.0 million. The firm, which had been leasing this facility, purchased the property immediately before the sale. Part of the facility will continue to be leased short-term by Atlas.
The company also has begun operations at its new 159,000-square-foot cold storage facility in Pendleton IN. This facility was constructed according to Atlas' specifications and then leased back to Atlas for 10 years with options to renew terms.
