Cold Storage Daily - January 8 - SCERS commits $50M to Westport Capital's cold storage fund

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NEWS ROUNDUP

FUNDING: SCERS commits $50M to WCP NewCold III. The Sacramento County Employees Retirement System (SCERS) has committed $50 million to Westport Capital Partners’ WCP NewCold III fund. The investment vehicle focuses on developing and operating cold storage warehouses around the world. Other recent fund investors include the State Board of Administration of Florida and the New York State Common Retirement Fund. The WCP leadership team includes Sean Armstrong, Jordan Socaransky, W. Gregory Geiger, Marc Porosoff, Peter Aronson, Howard Fife, and Steve Russell.

ACQUISITION: Entre Commercial brokers acquisition of Chicagoland cold storage. Entre Commercial Realty represented the buyer, Reyes Meats, in the purchase of 414 East State Street in Calumet City, Illinois. The property features a 40,368 SF USDA-certified food processing facility with extensive cold storage infrastructure. The Entre deal team included Chris Wilbur and Jeffrey Locascio. Tom Condon with Lee & Associates represented the seller in the transaction.

DEVELOPMENT: WCS Logistics opens cold storage facility in Winchester, VA. WCS Logistics has begun operations at 280 Brooke Road in Winchester, Virginia. The 83,000 SF cold storage facility features space for up to 13,000 frozen pallets. The WCS team is led by Peter Yates.

PEOPLE MOVES: Newmark hires Executive Managing Director for cold chain. David Aschenbrand has joined the Newmark team as Executive Managing Director. Aschenbrand has more than 25 years of experience managing supply chain and cold storage solutions. Along with Executive Managing Director Adam Petrillo, Aschenbrand will work to advance and expand Newmark’s cold chain services.

LISTEN: The New Warehouse Podcast shares insights on managing temperature-sensitive freight. Join host Kevin Lawton as he talks cold storage with Tyler Wiard of Candor Expedite.

READ: The top 10 US markets for cold storage development.

COLD STORAGE PROPERTIES FOR SALE

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51,618 SF Total | 9,960 SF Frozen Storage | 5,840 SF Refrigerated Storage | 2.65 AC | 9 Dock Doors | Immediate SR-422 Access | Majority of Refrigeration Installed 2023 | 15’-22’ Ceiling Heights

200,622 SF Refrigerated Warehouse with 37,700 SF Cold Dock | Build-to-Suit and Multi-Tenant Options Ranging from 40,000 to 500,000 SF | Easy Access to SLC, Las Vegas, Denver, and West Coast Ports | Parking for up to 300 Trailers

For Sale and Lease | Total 53,184 SF | 33,292 SF Cooler Area | 19,892 SF Ambient Area | 4,275 SF Office | 3.46 AC | 18’-25’ Clear Heights | 16 Dock-High Doors | 1 Drive-in Door

COLD STORAGE PROPERTIES FOR LEASE

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67,034 SF (Divisible to 39,804 SF) | 10,000 SF Cooler | 7,700 SF Freezer | 1.86 AC | 14’-21’ Clear Heights | 8 Interior Docks | 1 Drive-in Door (Expandable) | 3-Phase Power

25,660 SF Total | 8,800 SF Cold Storage | 1,095 SF Office Space | 0.87 AC | 3 Buildings | 18’-24’ Clear Heights | 3 Loading Docks | Light Industrial Zoning | Access to I-80, Routes 46, 206, 4 & 20, and Garden State Parkway

8,600 SF | 2 Dock Doors with Levelers and Brushes | 1 Grade-Level Door | 22’-23’ Clear Heights | Warehouse Racks

ONE MORE THING

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