Cold Storage - Interesting Ways to Retrofit Deal Space
I own a warehouse and thought about retrofitting a portion of the building into cold storage. Anyone think it's worth converting 10K SF of space? What are the legal and permitting implications? Can perishable food be stored with other types of non-food products? Do I have to section off a certain place with its own ingress/egress.
Not sure why this is in PE and not Real Estate, but look at Americold and Lineage Logistics, some of the biggest players in this space. Maybe see if you can reach out to their business development people.
We have some space leased out to a pharma company and the retrofitted about 25,000 feet to cold storage. They needed a certain level of food grade safety so they bought these massive pre sealed containers and ran ammonia pumps to the roof.
Call lucy durbin at cbre
She specializes in retrofits?
I think this would depend on a multitude of factors:
1. How big is the overall warehouse?
2. Would this 10k be in a separate demised space?
3. You're most likely looking at doing a "box within a box" type of retrofit where you install IMP with a separate refrigeration system specifically for this box.
4. This space is definitely growing in market demand as well as some rate premium in certain markets - have you discussed with a local broker about cold storage rates vs. unconditioned WH. Could you get a tenant in tow prior to starting this work or do it as a TI?
If you need a contractor that has done this work in the past for large clients send me a PM and I can provide contact info.
I was thinking of actually outfitting a storage locker (2,000 GSF) for a local grocery store that wants to do online delivery in an adjacent town. Do you think there's a way to add a mobile cold storage apparatus so I can remove it when it's done? I own other warehouses in the state so I could invest in the mobile cold storage equipment and move it around.
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