Cold Creek Solutions, a Dallas-Fort Worth-based developer of industrial cold storage buildings, in partnership with Invesco Real Estate, a global real estate investment manager, recently developed and sold two, new fully-convertible cold storage facilities.
The buildings, totaling more than 700,000 square feet of space, are located in Denton and San Antonio, Texas, providing the state with much needed temperature-controlled space along the Interstate 35 corridor. A lack of inventory and aging infrastructure have left many tenants seeking strategically located options that are larger and more efficient.
“We were confident that Texas provided the best environment to develop these two buildings in. From the moment we broke ground in Denton, we saw an incredible influx of leasing inquiries, ranging from local to national tenants starved for new space in the state,” said Matt McWilliams, president and managing partner of Cold Creek Solutions. “We were able to sign a market leading, long-term lease with a half-building user before we had erected any walls in our first building, which is extremely rare on speculative builds in the cold space.”
Cold Creek Solutions broke ground on the first facility in Denton in late summer 2021, followed by the San Antonio facility in early 2022, and immediately received a high-level of interest from local and national cold storage users.
Cold Creek Solutions partnered with design-build general contractor ARCO National Construction on both projects.
Both state-of-the-art facilities came in with minimal delays and below budget, McWilliams said.
“From the beginning, Cold Creek Solutions prioritized speed-to-market. They were one of the first developers to commit to spending capital on making the spaces fully convertible to allow someone to ‘adjust the thermostat’ and move right in,” said Brian Westre, project executive and principal for ARCO National Construction. “As a design-builder with extensive cold storage experience, ARCO was able to help Cold Creek navigate design decisions, material escalations, and supply chain disruptions to deliver the facilities on schedule without sacrificing the best-in-class quality they were looking for.”
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