Cold Storage List
Posts
Cold Storage Daily - November 13, 2024 - BGO buys Miami cold storage for $60M

Cold Storage Daily - November 13, 2024 - BGO buys Miami cold storage for $60M

BGO buys Florida cold storage. FreezPak buys Massachusetts development site. Lineage opens Pennsylvania cold storage. DSI/Karis break ground on Chicago cold storage. Folkland gets grant for cold storage. Six new cold storage listings.

Matt H & Katherine Peach
November 13, 2024

Good morning. This is Cold Storage List, and we sympathize.

→ We are here to serve the owners, brokers, and tenants who are interested in cold storage, refrigerated warehouses, and food/beverage supply chain. Do us a favor, and forward this email to your favorite cold pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

ACQUISITION: BGO buys cold storage warehouse in Miami area for $60M. BentallGreenOak (BGO) has acquired 7600 Northwest 82nd Place in Medley, Florida. The 177,893 SF cold storage warehouse is situated on 15 acres and is currently leased to Quirch Foods. The seller was SunTrust Equity Funding. BGO’s Cold Chain team is led by Jonathan Epstein and Kevin Rivest.

FreezPak buys Massachusetts cold storage

ACQUISITION: FreezPak buys 16.3 acres in Fall River, MA for $10.75M. FreezPak Logistics has acquired 10 Innovation Way in Fall River, Massachusetts. The company plans to build a 203,397 SF Class A cold storage facility on the site. The seller, VMD Companies, is led by Phil Down and James Vitas. FreezPak is led by Dave Saoud.

DEVELOPMENT: Lineage cuts ribbon on cold storage facility in NW PA. Lineage Cold Storage has opened a new plant at 2201 North Park Drive in Hazleton, Pennsylvania. The warehouse totals 385,907 SF and has 83,047 pallet positions. The Lineage team is led by Greg Lehmkuhl.

DEVELOPMENT: DSI/Karis break ground on cold storage facility in Chicago, IL. A partnership between Development Solutions Inc. (DSI) and Karis Cold has broken ground on Stockyards Cold at 3815 South Ashland Avenue in Chicago, Illinois. The state-of-the-art cold storage facility will total 100,000 SF on 5 acres. The DSI team is led by Jacob Karamol. Jake Finley leads Karis Cold.

FUNDING: Folkland Foods gets $3M grant for cold storage in Erie MSA. Folkland Foods, a new venture from the previous owners of Troyer Farms, has received a $3M grant through Pennsylvania’s Redevelopment Assistance Capital Program. The grant will be used to help pay for the company’s expanded $7M production facility at 817 PA-97 in Waterford Township. The project will include a 3,600 SF addition for a freezer warehouse. Folkland is led by Colton Troyer, Zachary Troyer, and Brian Garlick.

READ: Cold storage RE market leaders expect activity to pick up in 2025. “There’s more demand than there is availability for cold right now.” — Andrew Lucas of Brinkmann Constructors