Cold Storage Daily - October 2, 2024 - Vertical Cold Storage buys cold storage facility in Dothan, AL

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NEWS ROUNDUP

ACQUISITION: Vertical CS buys 109K SF cold storage facility in Dothan, AL. Vertical Cold Storage has acquired a frozen distribution center from Dothan Warehouse Investors. The property is located at 3570 Westgate Parkway in Dothan, Alabama. Vertical Cold Storage is sponsored by RE investment firm Platform Ventures and is led by West Hutchison.

DISPOSITION: DB sells 61K SF former cold storage facility in Dallas. Davdison Bogel RE has brokered the sale of 4710 West Ledbetter Drive in Dallas, Texas. Prior to the sale, the DB team of David Guinn and Martin Grossman converted the former cold storage facility to a warehouse with industrial outdoor storage (IOS). The DB team represented both the seller, Al Awad, and the buyer, Ledison Lighting.

LEASE SIGNED: BRC leases 54K SF cold storage facility in Linden, NJ. The Metz Industrial Group of Bussel Realty Corp. (BRC) has leased 54,000 SF of cold storage and food preparation space located at 1501 West Blancke Street in Linden, New Jersey. The BRC team of Jordan Metz, Benito Abbate, and James Friel represented the landlord, Link Logistics. The tenant was repped by Matt Corpuel and Gary Capetta with Pantheon Properties.

DEVELOPMENT: A&E developing 200K SF cold storage warehouse in Philly. A&E Construction is designing and building a temperature-controlled warehouse for the storage of refrigerated and frozen goods. The facility will adjoin PhilaPort’s dry warehouse (also built by A&E), located at 3350 South 3rd Street in Philadelphia, Pennsylvania. The estimated project completion date is October 2025. The A&E team is led by Bill Santora, Anthony Santora, Fran Baylis, and Edward McKeever.

DEVELOPMENT: RL Cold/BGO develop cold storage warehouse in Philly area. The joint venture (JV) of RealtyLink division RL Cold and BentallGreenOak (BGO) has begun the construction of a 215,766 SF speculative cold storage warehouse at 907 Pleasant Valley Avenue in Mount Laurel, New Jersey. The facility will feature 27 doc positions and a 5,000 SF food storage mezzanine. The project is expected to be completed in the second half of 2025. RL Cold is led by Phil Wilson, Josh Lewis, and Zach Romano. BGO is led by Sonny Kalsi, John Carrafiell, and Amy Price.

READ: Cold storage niche is on the rise. “If you just look about what’s available out there in the marketplace today… it’s still nowhere near what’s needed. There’s just continued opportunity here.” — RL Cold COO Josh Lewis

COLD STORAGE PROPERTIES FOR SALE

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15,320 SF Temp-Controlled Freezer Space | 45,880 SF Total | 38.5’ Ceilings

55,840 SF Cooler/Freezer-Capable Space | 160,896 SF Total | 22.33 AC | 19 Docks

17,400 SF Cold Storage Space | 29,640 SF Total | 5 AC | 24’ Average Clear Height

COLD STORAGE PROPERTIES FOR LEASE

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1,500 SF Freezer & 2,490 SF Cooler | 22,420 SF Total | 13 Dock-High Positions

205,888 SF Freezer Building | 148,163 SF Cooler Building | 35’ Clear Height

302,915 RSF | 100% Freezer-Capable | 50’ Clear Height | 39 Dock-High Doors

ONE MORE THING

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