Investment Overview

MAJOR SYSTEM IMPROVEMENTS: Ownership has invested approximately $2M to date in deferred maintenance and critical system upgrades. Approximately $2,000,000 of capital improvements have been invested into the facility and major systems in the last two years under the current Ownership's tenure. Such improvements include upgrades and replacements of numerous components of the core refrigeration and ammonia systems - including three phases of redundancy for the operations of the building, installation of brand new roof-mounted ammonia piping infrastructure, fire protection systems upgraded to current operational standards, new LED lighting throughout entire facility, parking lot improvements, additional bathrooms installed, and total repainting of the facade of the property. These investments address many of the mechanical, refrigeration, and life-safety items typically associated with legacy cold storage facilities and significantly reduces near-term capital expenditure requirements for future ownership. FIRE PROTECTION SYSTEM IMPROVEMENTS — 2023 - Replacement of two dry pipe valve assemblies - Isolation of underground fire main; removal of existing dry pipe valves and installation of new differential dry pipe valves tied to existing airline - Added 2" main drain line for both systems, piped through exterior wall - Installation of new PS40 low-air and PS10 waterflow pressure switches for each system - Replacement of failed ¾" check valve on System 4. Installed lock on PIV 6 for enhanced safety and compliance - Modernizes life-safety infrastructure and supports long-term operational reliability