According to a report from Colliers, as the existing current cold storage supply inventory is leased out and the demand for modern, multi-zoned, and convertible temperature-controlled facilities increases, speculative cold storage projects are expected to recover.
Joint venture partners Bridge Development Partners, one of South Florida’s most active industrial real estate developers, and PGIM Real Estate, the global real estate investment and financing business of Prudential Financial, Inc., announced it has secured $67 million in financing to develop Bridge Point Cold Logistics Center, a 312,103-square-foot speculative cold storage facility in Hialeah.