The facilities that produce, package, store, and distribute cold foods were truly essential in helping the supply chain satisfy record demand for those products during 2020, while the paradigm shift created by pandemic shopping habits—particularly e-commerce—is still being felt today. As a result, many design-build firms are busier than ever, as the need for cold storage space, plant expansions, facility renovations, fulfillment centers and distribution hubs has only increased.
Lineage Logistics has acquired Hanson Logistics, one of the largest cold storage organizations in the Midwest. Hanson currently ranks as the twelfth largest temperature-controlled warehousing and logistics provider in North America, according to the International Association of Refrigerated Warehousing (IARW).
At this time last year, those working along the cold chain were collectively trying to figure out how to navigate daily—sometimes hourly—changes and disruptions to business in the middle of a pandemic. Today, as the pandemic wanes in the U.S., a new set of challenges exist, but the industry is better prepared and positioned to overcome many of those obstacles.
NewCold has announced changes to its leadership and organization structure as it continues its transformation into a faster, leaner and more agile company poised for global growth. The changes are designed to further strengthen the execution of the company’s strategy in regional markets. The new, simpler management structure will provide greater clarity on responsibilities, and new reporting lines will strengthen leadership accountability and long-term stewardship.
Dedeaux Properties has sold a 290,368-square-foot cold storage and food processing portfolio to a global real estate services company for an undisclosed price. The portfolio, which is made up of four central Los Angeles-area assets ranging in size from 38,000 to 111,000 square feet, were part of a larger industrial portfolio acquired by the Dedeaux-led joint venture in 2016. Each property was 100% leased at closing.
About a month ago, we received an inquiry from a government contractor asking if our company, Yukon Ventures, would be interested in a top-secret cold storage opportunity. We read between the lines and understood that the contractor was talking about the rollout of the new COVID-19 vaccine, a subject dominating headlines everywhere.
Cold Summit Development has launched its first project in Dallas, a 343,000-square-foot multi-tenant cold storage facility (“Cold Summit Dallas”). The $60 million project is located at 2800 Cedardale Road on a 29-acre site within the South Dallas industrial submarket.