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.
On our latest From the Cold Corner Podcast, I talk with Vincent Free, chairman of the Controlled Environment Building Association (CEBA) about how the organization helps bring together suppliers, sub-contractors, builders and more, to move the thermal envelope industry forward through education and networking.
Ti Cold Development, a nationally recognized leader in the cold chain industry, has begun work on a 315,000-square-foot cold storage facility in Phoenix. Upon completion, this facility will feature nearly 40,000 pallet positions, a 60-foot-deep refrigerated dock, 40-foot-deep refrigerated rail dock and -10F to 35F, fully convertible refrigerated / frozen space.
Looking back on what we’ll call 2020 B.C. (Before Coronavirus), the pipeline for cold storage construction was already robust and healthy. According to research by commercial real estate firm CBRE, overall industrial construction—which encompasses cold storage, along with warehouses, distribution centers, manufacturing facilities, self-storage, office and flex space—was at 298 million square feet (MSF) before COVID-19, bolstered by the ongoing rise of e-commerce.
Acquisition expands Lineage’s U.S. network with the addition of 14 facilities and bolsters its presence in the Pacific Northwest.
May 30, 2020
Lineage Logistics (Lineage), the world’s largest provider of temperature-controlled logistics solutions, announced it has signed a definitive agreement to acquire Henningsen Cold Storage Co. (Henningsen). Lineage was founded by and continues to be managed by Bay Grove. The strategic acquisition adds to the company’s expansive U.S. facility network and bolsters its presence in the Pacific Northwest, with the addition of 14 facilities across Oregon, Washington, Idaho, Pennsylvania, North Dakota and Oklahoma. Financial terms of the transactions were not disclosed.