Americold Realty Trust, Atlanta, announced plans to invest approximately $126-136 million in a planned expansion and redevelopment at its existing Atlanta major market campus, consisting of its Tradewater, Gateway, Westgate, Southgate and Skygate facilities.
“Given the supply-demand characteristics for temperature-controlled infrastructure in Atlanta, we are extremely pleased to announce our plans to expand our operations in this key market, which we believe will allow us to support new and existing customer growth,” says Fred Boehler, president and CEO. “Furthermore, the expansion of our Atlanta major market campus and our previously announced development at the Port of Savannah together will grow our total capacity in the state by over 50% by 2021. We believe this targeted investment will enhance efficiencies for both Americold and its customers, and ultimately drive increased profitability and additional long term shareholder value.”
Americold is investing in new fully automated and semi-automated expansion projects and select redevelopment of its existing Atlanta major market cold storage infrastructure. The investment will provide additional capacity to support existing customer growth, facilitate capture of new business, improve service capabilities and efficiency and increase campus profitability.
The company intends to demolish part of an existing facility at its Gateway location, and build a first-to-market, fully automated facility with approximately 46,600 pallet positions. At its Tradewater facility, the company expects to build a semi-automated expansion, adding approximately 13,600 pallet positions. The company also intends to invest capital at its Westgate, Southgate and Skygate facilities on projects intended to enhance efficiencies and better serve its growing customer base.
Americold expects to begin this program in the first quarter of 2020, with completion of the projects targeted for the second quarter of 2021.