Latest news with #coldstorage
Yahoo
25-07-2025
- Business
- Yahoo
Running on Ice: Miami takes giant leap in fresh‑food logistics with $141M cold chain hub
Miami is cementing its position as a major gateway for perishable goods into the U.S. with the groundbreaking of a cutting-edge cold storage and phytosanitary facility at Miami International Airport (MIA). This $141 million project, part of a public-private partnership between the airport and PortMiami, ushered in a new era for fresh produce, seafood, and flower imports along the East Coast. Set to open in 2027, the sprawling 340,000‑square‑foot complex, about six football fields in size, will boost MIA's cold storage capacity by 50%, adding around 1.5 million tons per year of refrigerated space. Eighty percent of the facility will be devoted to temperature‑controlled cold storage, with the remainder serving as cutting‑edge treatment zones. Notably, 20% of the space will feature USDA‑certified, non‑chemical pest‑control technology that relies on electron‑beam pasteurization, allowing quicker inspections and better fruit quality by replacing dated fumigation methods. This capital injection follows a July 2024 lease approval for a four‑story freight terminal, which is expected to handle an additional 2 million tons of cargo through PortMiami. With MIA handling a record 3 million tons of cargo in 2024, including 90,000 tons of floral imports for Valentine's Day alone, the need for modernized storage and plant health inspections has never been greater. Subscribe to the newsletter to get the full edition in your inbox every Friday The post Running on Ice: Miami takes giant leap in fresh‑food logistics with $141M cold chain hub appeared first on FreightWaves.
Yahoo
17-07-2025
- Business
- Yahoo
Wells Fargo Raised the Firm's PT on Americold Realty Trust (COLD), Kept a Buy Rating
Americold Realty Trust, Inc. (NYSE:COLD) is one of the Best 52-Week Low Stocks to Buy According to Analysts. On July 13, Wells Fargo's analyst Blaine Heck raised the firm's price target on Americold Realty Trust, Inc. (NYSE:COLD) from $15 to $20, while maintaining a Buy rating on the stock. The analyst noted that this upgrade was part of the firm's Q2 preview, where they adjusted price targets within the industrial and cold storage real estate investment trust (REIT) group. The analyst also highlighted that the group's conservative initial outlooks, combined with Q1 earnings that beat expectations, should help insulate the REITs from negative estimate revisions. However, Heck emphasized the importance of the duration of the current softness in the leasing activity. The duration of this softness in leasing activity is a major factor that will influence investor sentiment and performance going forward. An interior of a modern temperature-controlled warehouse with industrial shelving units and workers in motion. Americold Realty Trust, Inc. (NYSE:COLD) is a real estate investment trust (REIT) that owns and operates temperature-controlled warehouses globally. While we acknowledge the potential of COLD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-07-2025
- Business
- Yahoo
Cold storage provider Lineage announces expansion in Canada
Temperature-controlled warehouse operator Lineage Inc. announced that recent acquisitions and expansion projects in Canada will expand its network by 13 million cubic feet and more than 68,000 pallet positions. The company said Monday that it has acquired three cold storage facilities in Quebec, Canada. The new warehouses are located near Montreal and increase its Canadian footprint to more than 30 locations. Novi, Michigan-based Lineage (NASDAQ: LINE) also announced expansion projects at three existing locations in Canada, including the addition of 1,500 blast-freezing pallet positions at a Calgary location. The upgrades are expected to be completed by the middle of next year. 'Canada plays a vital role for food logistics in North America and globally,' said Matt Cramer, President of North America East at Lineage, in a news release. 'Our facilities are strategically situated near vital infrastructure that keeps goods moving – whether that's down the road, across the border or beyond.' Lineage manages more than 485 facilities with 3.1 billion cubic feet of space across North America, Europe and the Asia-Pacific region. It also provides freight forwarding, customs brokerage, drayage and truck transportation. The company closed on the acquisition of Bellingham Cold Storage and its three warehouses in April. More FreightWaves articles by Todd Maiden: Cass Freight Index: Shipments down, rates up in May Forward Air chairman, 2 directors leave after shareholder vote Intermodal carriers getting 'a bit more optimistic' The post Cold storage provider Lineage announces expansion in Canada appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Telegraph
17-06-2025
- Business
- Daily Telegraph
Fridge sale: Australian cold-storage facility sold for $67m
A massive refrigerating unit in Sydney's northwest has sold for a whopping $66.5m, crowning it Australia's priciest fridge sale. The huge refrigerator facility, spanning more than 10,000 sqm, is located at 1-3 Zeleny Rd in Michenbury. First hitting the market in February 2024 with ambitious price hopes over $75m, the unit has finally changed hands amid a boom in the food logistics industry. The cold-storage warehouse was snapped up by investment company Irongate Group for an almost $10m discount off the initial price expectations. MORE: Packer hold out could face 'unseemly eviction' The facility has been sold with the key advantage of a long-term tenant already secured. Minus 1 Refrigerated Transport, a market leader in cold storage transportation, will commence the lease once building is completed by design and construction company Spaceframe. The property was sold by The Colliers Industrial and Logistics Capital Markets team of Gavin Bishop and Sean Thomson, who sold the property exclusively on behalf of Barber Property Group. MORE: Investor tricks lock out hopeful homebuyers Australia's coldest suburbs exposed The cold storage sector is currently valued at approximately $5.5 billion in Australia, according to Colliers, who claim there is growth potential and limited available stock, accounting for 2-3 per cent of total industrial supply. Mr Bishop noted that as interest rates began to fall and further cuts were expected, more investors were using a 'fund-through' transaction, meaning they were paying for assets during their construction phase. 'We are experiencing heightened demand from both domestic and international investors for core industrial product within Sydney,' he said. Mr Thomson said investor demand for cold storage facilities in Australia continued to grow '(This is) driven by structural tailwinds in food logistics, pharmaceuticals, and e-commerce grocery delivery,' he said. Nationally, the vacancy rate for the broader industrial market currently measures 2.9 per cent, according to Colliers. Cold storage asset vacancies were closer to zero with only a handful of facilities available for lease over the next 12 months. 'As a niche subsector within industrial real estate, cold storage assets offer strong rental growth potential and are often underpinned by long-term leases to high-credit tenants, making them increasingly attractive to institutional capital seeking defensive income and inflation protection,' Mr Thomson said. MORE: Surprise source of Aussies' home deposits exposed Family's dilemma exposes flip side of housing boom 'Crazy' reason young family ditched house for unit
News.com.au
17-06-2025
- Business
- News.com.au
Fridge sale: Australian cold-storage facility sold for $67m
A massive refrigerating unit in Sydney's northwest has sold for a whopping $66.5m, crowning it Australia's priciest fridge sale. The huge refrigerator facility, spanning more than 10,000 sqm, is located at 1-3 Zeleny Rd in Michenbury. First hitting the market in February 2024 with ambitious price hopes over $75m, the unit has finally changed hands amid a boom in the food logistics industry. The cold-storage warehouse was snapped up by investment company Irongate Group for an almost $10m discount off the initial price expectations. The facility has been sold with the key advantage of a long-term tenant already secured. Minus 1 Refrigerated Transport, a market leader in cold storage transportation, will commence the lease once building is completed by design and construction company Spaceframe. The property was sold by The Colliers Industrial and Logistics Capital Markets team of Gavin Bishop and Sean Thomson, who sold the property exclusively on behalf of Barber Property Group. Australia's coldest suburbs exposed The cold storage sector is currently valued at approximately $5.5 billion in Australia, according to Colliers, who claim there is growth potential and limited available stock, accounting for 2-3 per cent of total industrial supply. Mr Bishop noted that as interest rates began to fall and further cuts were expected, more investors were using a 'fund-through' transaction, meaning they were paying for assets during their construction phase. 'We are experiencing heightened demand from both domestic and international investors for core industrial product within Sydney,' he said. Mr Thomson said investor demand for cold storage facilities in Australia continued to grow '(This is) driven by structural tailwinds in food logistics, pharmaceuticals, and e-commerce grocery delivery,' he said. Nationally, the vacancy rate for the broader industrial market currently measures 2.9 per cent, according to Colliers. Cold storage asset vacancies were closer to zero with only a handful of facilities available for lease over the next 12 months. 'As a niche subsector within industrial real estate, cold storage assets offer strong rental growth potential and are often underpinned by long-term leases to high-credit tenants, making them increasingly attractive to institutional capital seeking defensive income and inflation protection,' Mr Thomson said.
