BGFP International, a strategic partnership between BG Capital, Saoud Development, and FreezPak Logistics, has secured $72 million in funding to develop a 275,000-square-foot cold storage facility in Jacksonville, Florida. Construction is underway and expected to be completed in November 2024.
The facility, to be leased exclusively by FreezPak Logistics, spans over 20 acres, and will offer 53,000 new pallet positions with 212,000 square feet of freezer space and a 41,000-square-foot cooler dock, giving users access to blast freezing, cross-docking, transportation, repacking, overseas container plug-ins, and USDA inspections. The facility will also include 34 loading docks, 132 trailer parking stalls, 90 container plug-ins, and 67’ clear-height ceilings.
“I’m thrilled about our expansion into the Port of Jacksonville market. This new facility represents a significant milestone in our growth strategy to be in every major port in the US, allowing us to better serve our customers with enhanced logistics capabilities and streamlined operations. The Port of Jacksonville is a strategic location that aligns with our commitment to providing top-notch service and efficiency in the cold storage industry,” said David Saoud, Co-Founder and CEO of FreezPak Logistics and Saoud Development.
The Jacksonville facility will be BGFP International’s third built-to-suit location within their national expansion program, with a 172,000-square-foot cold storage facility in Philadelphia, Pennsylvania, and a 543,000-square-foot cold storage facility in Houston, Texas, to be built in two separate construction phases. BGFP International is committed to continue increasing cold storage facility availability nationwide in their efforts to further build a new supply chain infrastructure for the future.
“This project execution is a testament to the development team we have built here at BGFP International, combining the wealth of operational experience FreezPak brings with over 20 plus years of business in the cold storage third-party logistics space, with the seasoned development expertise of a nationally recognized commercial real estate developer in BG Capital,” said Joseph Byrne, Managing Partner of BGFP International.
Belmar Pharmacy To Open Compounding Facility In Pasco County, FL
Pasco Economic Development Council has announced it is welcoming Belmar Pharmacy to Pasco County. The company has invested $15 million in a 25,000 square foot state-of-the-art compounding facility within Asturia Corporate Center, where they expect to add 150 new professional positions over the next three years.
Pharma is a vital part of the Life Sciences Corridor in Pasco County,” expressed Bill Cronin, President/CEO, Pasco EDC. “The work that Belmar Pharmacy will be doing here by producing compounded medications and other products will help people live healthier lives, as well as providing more business-to-business connections in our growing Life Sciences ecosystem.”
In 2018, Pasco County Commissioners approved a 10-year, $7 million Penny for Pasco loan to HP Asturia, LLC (Harrod Development) to build Asturia Corporate Center, a $26 million, 235,000 square foot speculative “Flex-Industrial” project to meet the demands of Pasco’s rapidly growing industrial sectors.
“We are excited about the potential to establish a future talent pipeline with Wendell Krinn Technical High School thanks to our introduction by the Pasco EDC. This collaboration represents a promising opportunity to nurture and develop young talent, aligning with our commitment to investing in the future workforce,” said Rob Kilgore, Chief Executive Officer of Belmar Pharmacy. Pasco EDC offers connections between education institutions and target industries to ensure Pasco County maintains a strong talent pipeline where companies create job opportunities and find local quality talent.
Belmar is the largest national compounding pharmacy organization focused on hormone health and wellness. With seven compounding facilities across the country, they are on track to support more than 500,000 patients in 2024, with injectable, oral, and topical personalized medications. Additionally, Belmar upholds an unwavering commitment to education for providers and patients in helping them achieve optimal wellness.
“Pasco County is thrilled to welcome Belmar Pharma Solutions to our community,” said Pasco County Commissioner Kathryn Starkey. “The Board of County Commissioners is always working to find new, innovative companies to set up shop in Pasco, and this is another great example of a reputable company bringing high quality jobs to our community.”
