Cold Storage Daily - August 13 - Americold opens $100M+ cold storage hub in Kansas City

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NEWS ROUNDUP

GRAND OPENING: Americold opens $100M+ cold storage hub in Kansas City. Americold has celebrated the grand opening of 14981 Thunderbird Road in Kansas City, Missouri. The 335,000 SF cold storage import-export hub is located on the Canadian Pacific Kansas City (CPKC) rail network, including CPKC’s Mexico Midwest Express, the only single-line rail service for the transport of refrigerated goods between the U.S. and Mexico. George Chappelle leads the Americold team.

GRAND OPENING: Coastal Cold Storage opens in Foristell, MO. Coastal Cold Storage has opened a new cold storage facility at 10801 Opportunity Drive in Foristell, Missouri. The facility, which was built by Brinkmann Constructors, features a 55,600 SF freezer, a 29,300 SF cooler, a 23,500 SF cold dock, and an 8,600 SF office area. The Coastal Cold Storage team is led by John Dunard.

DISPOSITION: M&M sells industrial property in Chicagoland for $17.4M. Marcus & Millichap has facilitated the sale of 199 Shepard Avenue in Wheeling, Illinois. The property features a 96,712 SF multi-tenant industrial building. The transaction included a partial leaseback with JV Global Services, along with a pending 14,796 SF build-to-suit cold storage facility for tenant Ready Set Gourmet. Zachary Orzel, Adam Abushagur, and Tyler Sharp with M&M represented the seller in the transaction. Abushagur and Clay Isacson represented the buyer, Prairie Hill Holdings. Frank Montalto and Ethan Splan of M&M’s IPA Capital Markets secured a 5-year $11.4M acquisition loan for the transaction.

DEVELOPMENT: Cold storage in Chicago’s Stockyards district nears delivery. Karis Cold’s latest development, Karis Stockyards, located a 3815 South Ashland Avenue in Chicago, Illinois, is nearing completion. The facility will feature 99,530 SF of dedicated freezer and cooler space. John Basile, Packy Doyle, and Alex Sutterer with NAI Hiffman lead the leasing team.

FUNDING: NYSCRF commits $200M to Wesport Capital cold storage fund. New York State Common Retirement Fund (NYSCRF) has committed $200M to Westport Capital Partners’ WCP NewCold III Co-invest real estate co-investment vehicle. The fund will focus on cold storage facilities in North America, Western Europe, and Asia-Pacific.

READ: Lineage beats expectations for Q2 earnings, despite $6M loss.

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COLD STORAGE PROPERTIES FOR SALE

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For Sale and Lease | 249,511 SF Tri-Temp Building in CA’s Central Valley | 61 AC | 121,859 SF of Dry, 96,403 SF of Cooler, and 20,654 SF of Freezer Storage | Cold Dock | 40+ Docks | 15’-34’ Clear Heights | Adjacent to CA-99

50,422 SF | 2.54 AC | Ample Car and Truck Parking | 8,474 SF Freezer/Cooler | Heavy Electric Power | Energy-Efficient Lighting | Test Kitchen | Rail Service

29,500 SF | 0.92 AC | 100% Leased | 7 Dock-High Loading Docks | Located Within Opportunity Zone

COLD STORAGE PROPERTIES FOR LEASE

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37,736 SF Total: 32,620 SF Warehouse, 5,000 SF Office, 12,000 SF Cooler and 1,500 SF Freezer | 18’ Clear Height | 600 Amps | 5 Docks and 1 Ramp

8,000 SF | 22’ Clear Height | Oversized Roll-up Door | 600 SF of Bonus Mezzanine | 30’x60’x160’ Walk-in Freezer | 8’x8’x8’ Walk-in Cooler | 3-Phase Power

108,864 SF | Divisible into 3 Separate Units (42,136 SF, 36,939 SF, and 29,789 SF) | Temperature Capabilities from -10F to 38F | 17 Dock Doors with Vertical Levelers

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