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Cold Storage Daily - December 4 - Ares lends $135M for New Jersey cold storage

Cold Storage Daily - December 4 - Ares lends $135M for New Jersey cold storage

Ares finances New Jersey cold storage. Clay Equities buys New Jersey cold storage. Cold-Link completes Sioux City expansion. CJ Logistics opens Georgia cold storage. Agile and Ti Cold break ground in Buffalo. Six new cold storage listings.

Matt H & Katherine Peach
December 04, 2024

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NEWS ROUNDUP

FUNDING: Ares lends $135M for cold storage project in East Hanover, NJ. An Ares Management fund has provided a $135M loan for the construction of High Point on 10, located at 59 Route 10 in East Hanover, New Jersey. The project, which is being developed by a joint venture among Related Fund Management, Onyx Equities, and Russo Development, will include a 380,000 SF cold storage facility tenanted by RealCold. Jordan Roeschlaub, Jonathan Firestone, and Nick Scribani with Newmark arranged the financing transaction.

Clay Equities buys New Jersey cold storage

UPDATE: In our November 20 issue, we mentioned IPRG’s sale of 517-529 East 34th Street in Paterson, New Jersey. The property, which includes roughly 6,000 SF of refrigerated space and 2,800 SF of freezer space, sold for $3.9M. We now know that the buyer was Clay Logistics. Jordan Metz and Benito Abbate with Bussel Realty Corp.’s Metz Industrial Group are currently marketing the property for lease. The Clay Logistics team is led by Joseph Terzi.

Cold-Link completes Sioux City expansion

DEVELOPMENT: Cold-Link prepares to open expanded facility in Sioux City, IA. Cold-Link Logistics is nearing completion of the significant expansion of its location at 7601 Alicia Avenue in Sioux City, Iowa. The project will add 154,000 SF to the existing warehouse, more than doubling its pallet positions to 45,000. The Cold-Link team is led by Michael, Mark, and Nick Mandich.

DEVELOPMENT: CJ Logistics opens new cold storage in Gainesville, GA area. CJ Logistics America has opened a new cold storage warehouse at 3875 Cornelia Highway in Lula, Georgia. The facility totals 270,000 SF and was developed in partnership with RL Cold. The CJ Logistics America team is led by CEO Kevin Coleman.

Agile and Ti Cold break ground in Buffalo

DEVELOPMENT: Agile and Ti Cold break ground on cold storage in Buffalo, NY. Agile Cold Storage and partner Ti Cold have broken ground on a new cold storage facility at 3200 Clinton Street in West Seneca, New York, a Buffalo suburb. When completed in 2025, the warehouse will total 132,865 SF and feature 65’ clear heights. The Agile team is led by Don Schoenl. The Ti Cold team is led by Sam Tippmann.

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