Multi-Temperature Cold Storage Facilities: A New Asset Class on the Horizon

Still, progress is noticeable. Bridge Development Partners LLC  and PGIM Real Estate recently bought a 20-acre site in Hialeah, Fla., where they plan to build a cold storage facility called Bridge Point Cold Logistics Center. The 312,103-square-foot facility is being built as a speculative development without a tenant lined up. In a news release, Bridge Development senior vice president for cold storage Brian Niven said demand for climate-controlled cold storage space “is at an all-time high across the region, thanks in part to shifting consumer preferences towards fast, fresh products and online grocery deliveries.”