BARETT BUILDERS BUILDINGS



BARRETT BUILDERS MARKS OFFICIAL OPENING OF 137,000-SQ-FT PREFERRED FREEZER FACILITY AND HEADQUARTERS IN JERSEY CITY

April 4, 2002

Jersey City Mayor Glenn D. Cunningham, developer Tom Barrett of Barrett Builders, and several key executives from Preferred Freezer Services of Jersey City, Inc. marked the official grand opening of Preferred's new 137,000-square-foot frozen food distribution facility and corporate headquarters this spring. Constructed on an 8.5-acre site in the Greenville Yards industrial redevelopment area located at Exit 14A of the New Jersey Turnpike, the project was completed by Barrett Builders in less than eight months.

"I am extremely pleased to be here today to welcome another key component of Jersey City's redevelopment effort," remarked Mayor Cunningham, who cut the official ribbon at a ceremony in the building's three-story entrance lobby. "We now have a great deal of residential development taking place in our city; the other valuable part of the rebuilding process - employment opportunities - come from outstanding operations such as this."

The new Preferred facility currently employs 50 people, the majority of whom are new hires from the immediate area. Presently the warehouse is operating at 50 percent of capacity, with its busiest season still to come. According to Edward Borowski, vice president of operations for Preferred, relocating to Jersey City was a strategic move on the third-party logistic company's part. "We're now situated within the heart of the greater metropolitan distribution zone, within the confines of New Jersey ports, and minutes from all major highways to and from New York City," he explained.

Construction of the complex 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, based in Fort Lee, New Jersey, constructed the building on a cost-plus basis for Preferred Freezer Services, which provided design, engineering and construction assistance.

Warehouse Sets New Standards for Cold Storage
Preferred Freezer Services is now one of the leading cold storage companies and the third largest privately held cold storage company in the United States. The new facility addresses the refrigerated warehousing company's seafood distribution needs and houses its corporate offices, which relocated from Perth Amboy, New Jersey. One of five cold storage warehouses the company is presently constructing nationwide, the building showcases leading-edge cold storage technology, still quite rare in the industry but common to all Preferred facilities.

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 pallets or 28 million pounds of frozen food products. The front of the facility is constructed of solid reinforced concrete panels, cast in place and tilted up into position.

According to John Galiher, president of Preferred Freezer Services, the building's advanced refrigeration system, thermal insulation and specialized lighting make it "the most energy-efficient cold storage facility available today." 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. Pallets 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 from the freezer to the cool dock. 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 cool dock loading area maintained at 45 degrees Fahrenheit and serviced by 26 sealed, insulated dock doors, the facility offers a 30-percent loading dock area ratio that far exceeds the industry's 10-percent average. More shipping and receiving area translates to dynamically faster speed of service and less non-billable waiting time for truckers, noted Galiher. Another feature that makes the building a "driver's dream" is the 200-foot wide concrete parking area adjacent to the loading bays, which provides ample off-street parking and turning room.

The Preferred Freezer building is the second build-to-suit cold storage facility Barrett has constructed in the 50-acre Greenville Yards development. In September 2000, the company completed a 132,180-square-foot refrigeration/freezer facility for Summit Import Corp. This spring, upon issuance of all approvals, Barrett will break ground on its third: a 65,000-square-foot warehouse/office facility for MCST Preferred Transportation, the transportation logistics arm of Preferred Freezer Services. MCST offers less-than truckload (LTL) inter-city deliveries, specialized distribution and long-haul services.

Located adjacent to Preferred's headquarters, the planned 1.5 million- cubic-foot facility will operate 24 hours a day, seven days a week providing cross- docking, transloading and export consolidations, in addition to serving as the headquarters for the growing refrigerated logistics company.





Mayor Glenn D. Cunningham (center) cut the ribbon marking the official opening of a 5 million-cubic-foot cold-storage warehouse in Jersey City this spring. Constructed by Fort Lee-based Barrett Builders, the new 137,000-square-foot facility also serves as corporate headquarters for Preferred Freezer Services, Inc. Joining the mayor for the ceremony were Tom and Rosemary Barrett, Preferred Vice Presidents Edward Borowski, Michael Giacopelli and Daniel DiDonato, and Preferred's mascot, a "live" version of the company logo, which has been replicated in a 6' x 6' custom-made architectural relief on the building's exterior. Pawprints on the entryway ceiling further expound the polar bear motif. Pictured are (l-r) Raul Mercado, Project Manager, Jersey City Economic Development Corporation; Tom Murphy, Deputy Director, Jersey City Fire Department; Gregory Malave, Project Manager, Jersey City Economic Development Corporation; Tom Barrett, President, Barrett Builders; Rosemary Barrett, Director of Marketing, Barrett Builders; Edward Borowski, Vice President of Operations, Preferred Freezer Services; Daniel DiDonato, Vice President of Sales, Preferred Freezer Services; Jersey City Mayor Glenn D. Cunningham; Preferred Freezer's mascot; Jersey City Deputy Mayor Anthony Cruz; Dwayne Rivera, General Manager, Preferred Freezer Services; Michael Giacopelli, Vice President of Administration, Preferred Freezer Services; and Mark McKenna, Vice President of Construction, Barrett Builders.

Preferred Freezer Services of Jersey City, Inc. marked the official grand opening of its new 137,000-square-foot frozen food distribution facility and corporate headquarters this spring. Constructed on an 8.5-acre site in the Greenville Yards industrial redevelopment area located at Exit 14A of the New Jersey Turnpike, the project was completed by Fort Lee-based Barrett Builders in less than eight months. This is the second build-to-suit cold storage facility Barrett has constructed in the 50-acre Greenville Yards development. In September 2000, the company completed a 132,180-square-foot refrigeration/freezer facility for Summit Import Corp. This spring, upon issuance of all approvals, Barrett will break ground on its third: a 65,000-square-foot warehouse/office facility for MCST Preferred Transportation, the transportation logistics arm of Preferred Freezer Services.

Jersey City Mayor Glenn D. Cunningham (right), developer Tom Barrett of Barrett Builders (left), and John Galiher, president of Preferred Freezer Services of Jersey City, Inc. (center) celebrated the official grand opening of Preferred's new 137,000-square-foot frozen food distribution facility and corporate headquarters this spring. Constructed on an 8.5-acre site in the Greenville Yards industrial redevelopment area located at Exit 14A of the New Jersey Turnpike, the project was completed by Barrett Builders in less than eight months.


Based in Fort Lee, New Jersey, Barrett Builders is a full-service builder and developer with more than 50 years of experience in commercial development, construction and property management. The firm is active in New Jersey and New York. Among its hallmark properties are Half Moon Harbour, a multi-family luxury apartment building on the Hudson River waterfront in North Bergen, and Greenville Yards, a multi-building industrial redevelopment project now underway in Jersey City, New Jersey. In addition, Barrett has built a number of prestigious developments including office buildings, distribution facilities, shopping centers, institutional buildings including public and private projects, schools, municipal buildings, churches and restaurants, and multi-million dollar single-family and multi-family residential properties.


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