Increased business demand signifies the institutionalization of cold storage facilities as a new asset class
SALT LAKE CITY – Senior Vice President and Principal, Chris Cummings, Vice President and Principal, Turner Wisehart, and Associate, Cater Cosgrove, of Colliers’ national Food Advisory Services Group, represented Scout Capital Partners in the purchase of a 63,822 SF cold storage facility in Salt Lake City, UT. Strategically located near Interstate 215 (Salt Lake City’s belt route), Interstate 15 and Interstate 80, the facility offers ease and accessibility for the transportation of goods across the nation.
Cold storage facilities have begun gaining popularity from investors. Cummings shared, “Over the years, new asset classes such as data centers and outdoor storage facilities have emerged in the investment world. Now we are seeing the institutionalization of cold storage facilities as a rapidly growing, new asset class. This deal, along with several others, signifies the expansive investment opportunities and positive outlook for the future of the industrial commercial real estate market.”
Scout Capital Partners is a Miami-based investment group, focused on direct real estate investments in assets that comprise or are connected to important infrastructure. They are primarily focused on the cold storage sector.