Vertical Cold Storage to Buy 109 KSF Alabama Facility
Vertical Cold Storage will acquire its 10th cold storage facility, in Dothan, Ala. Sponsored by Platform Ventures, the company entered into an acquisition agreement that is expected to close in August. Dothan Warehouse will sell the 109,000-square-foot asset.
The current owner expanded the 2019-built property last year. It is specialized for poultry intended for export markets.
The USDA-certified facility’s features include 10 dock doors, high-capacity blast freezing, case picking, cross-dock configuration and kitting capabilities.
Located at 3570 Westgate Parkway, it allows access to nearby major thoroughfares, including U.S. routes 231, 431 and 84. This location enables one-day delivery to major ports, such as Mobile, Ala., Jacksonville and Panama City, Fla., Savannah, Ga., and New Orleans.
In November last year, Vertical Cold Storage broke ground on a multi-modal distribution facility in Kansas City, Mo. Primus Builders is constructing the 300,000-square-foot asset, which is expected to begin operations by the end of this year.
Significant recent investments in the cold storage sector include Americold Realty Trust’s $170 million acquisition of a nine-building portfolio. Global Net Lease sold the properties, which are leased to subsidiaries of the buyer.
In October last year, Lineage Logistics bought a 1.3 million-square-foot portfolio from Burris Logistics. The eight properties span six Eastern and Midwestern states.
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