BARETT BUILDERS BUILDINGS


BARRETT BUILDERS COMPLETES STATE-OF-THE-ART, 137,000-SQUARE-FOOT FREEZER FACILITY AT GREENVILLE YARDS IN JERSEY CITY

February 6, 2002


Barrett Builders has completed a state-of-the-art, 137,000-square-foot frozen food warehouse and corporate headquarters office for Preferred Freezer Services, Inc. at the 50-acre Greenville Yards industrial development in Jersey City, New Jersey. Barrett Builders, a full-service builder/developer headquartered in Fort Lee, New Jersey, is the designated redeveloper for Greenville Yards.

Construction of the Zero -5° freezer storage facility began in June 2001, and proceeded at a record pace to help the owner realize a December 2001 move-in date. Barrett Builders constructed the building on a cost-plus basis for Preferred Freezer Services, which provided design, engineering and construction assistance.

According to Tom Barrett, president of Barrett Builders, LLC, his company utilized a carefully coordinated phase-completion method of construction, with one trade immediately following another at the 8.5-acre site. "For example, one day after the installation of the permanent roofing system came finished floors," he explained. "Structural steel and decking were painted while they were erected. Lighting, refrigeration equipment and fire sprinklers were all installed while the walls were erected, just following the roof installation. This sequence saved six to eight weeks in the construction schedule and avoided cross-trade interference later in the job."

"In the final stages of construction we worked closely with Preferred to get their equipment in quickly for a fast-track occupancy," Barrett added. "Communication and coordination were key because a Zero -5° facility requires a substantial amount of mechanical equipment, far surpassing any typical warehouse, not the least of which is a turbo-charged Caterpillar stand-by backup generator system able to power the entire freezer facility."

Warehouse Showcases Leading-Edge Technology
The warehouse features a 46-foot ceiling height, while the industry average remains in the 30-foot range. "Ten years ago, this much storage capacity would have required 180,000 square feet, but today's designs and technology allow for a higher roof and less floor area, which ultimately results in less wear and tear on equipment, with a lot less facility maintenance and utility expenses," Barrett noted.

The building's storage area, which is maintained at a temperature of minus 5 degrees Fahrenheit, features a capacity of 16,000 palettes or 28 million pounds of frozen food products. The freezer facility also houses a three-story, elevated office. The front of the facility is constructed of solid reinforced concrete panels, cast in place and tilted up into position. Recessed accents created by architectural reliefs form an attractive geometric design further enhancing the exterior wall system. Finally the office section is crowned by a "polar bear" logo - a replication of the owner's trademarked symbol - that Preferred had custom-made in Los Angeles.

According to John Galiher, president of Preferred Freezer Services, the building's advanced refrigeration system and specialized lighting make it "the most energy-efficient cold storage facility available today. Unique structural features and leading-edge cold warehousing technology make it truly one of the safest and most efficient buildings of its kind in the country," he added.

Preferred Freezer Services, based in Perth Amboy, New Jersey, is one of the leading cold storage companies in the United States and the second largest privately held cold storage company in the world. Most of its customers are smaller, specialty food distributors. The Greenville Yards facility - one of five the company is currently building nationwide - replaces a Pennsylvania warehouse and will primarily service ethnic food distributors.

"Rising transportation costs, combined with enhanced forklift technology that allows us to build higher structures, have encouraged us to move our storage facilities closer to shipping ports and food destinations," explained Galiher. "Greenville Yards' strategic location placed us within one mile of the Newark/Elizabeth marine terminals and central to the metropolitan area's growing ethnic population."

Specialty Features Contribute to Energy Efficiency, Serviceability
Specialized materials and construction techniques contribute to the building's energy efficiency. High efficacy lighting installed throughout the warehouse utilizes less energy and generates less heat while providing high levels of illumination. Palettes are moved between loading and storage areas on two conveyor belts which automatically trigger their doors' opening and closing to minimize condensation and ambient temperature change. In addition to freezer wall panels with eight-inch insulation, the building's roof contains six inches of insulation topped by a specialized roof membrane - a white PVC fabric that reflects light - to help reduce heat load.

With 36,000 square feet of loading area maintained at 45 degrees Fahrenheit, the facility offers a 30-percent loading dock ratio that far exceeds the industry's 10-percent average. More shipping and receiving area translates to faster speed of service and less non-billable waiting time for truck drivers, noted Galiher.

Another feature that makes the building a "drivers' dream" is the 200-foot wide concrete parking area adjacent to the loading bays, which provides ample off-street parking and turning room. Concrete was selected over asphalt because of its durability and ease of maintenance.
The Preferred Freezer building is the second build-to-suit cold storage facility Barrett has constructed in Greenville Yards. In September 2000, the company completed a 132,180-square-foot refrigeration/freezer facility for Summit Import Corp. This spring, Barrett will break ground on its third: a 65,000-square-foot warehouse/office facility for two subsidiaries of Preferred Freezer Services - MCST Preferred Transportation and MCST Preferred Logistics.

Located at Port Jersey between Route 169 and the Hudson River, just ¼ mile from Exit 14A off the New Jersey Turnpike, Greenville Yards offers tenants appealing construction advantages. These include up to 75-foot clear-story ceilings, close proximity to Manhattan and tax incentives, all located within a Foreign Trade Zone and an Urban Enterprise Zone.


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