Industrial Insider: The Cold Supply Chain
One example of real estate companies responding to the increased demand for cold storage industrial space is Bridge Development Partners’ newly formed joint venture with PGIM Real Estate to acquire and develop cold storage properties across the U.S.
“As the online food delivery market in the U.S. continues to grow, the need for cold storage industrial space is skyrocketing and we expect the pace of demand to continue on that trajectory,” said Darin Bright, managing director and senior portfolio manager for PGIM Real Estate’s U.S. core-plus investment strategy. “Our joint venture with Bridge—beginning with our acquisition of a seed asset in Chicago’s most sought-after industrial submarket—positions us for success as we establish a best-in-class cold storage portfolio nationally on behalf of our investors.”
//rejournals.com
