CRE MARKETPLACE (pg.16): CONSTRUCTION COMPANIES/GENERAL CONTRACTORS ECONOMIC DEVELOPMENT CORPORATIONS FINANCE & INVESTMENT FIRMS REAL ESTATE LAW FIRMS VOL.34 NO.3
THE LEADING NEWS SOURCE FOR INDUSTRIAL REAL ESTATE PROFESSIONALS & USERS
MAY 2024
Ice-cold innovation: Chicago ramps up cold storage infrastructure
Image from Karis Cold.
By Brandi Smith
D
riven by a confluence of factors including a booming population, e-commerce expansion and aging infrastructure, the Chicago area is experiencing a surge in cold storage development. These state-of-the-art facilities are crucial for storing and preserving temperature-sensitive goods, ensuring a steady supply of fresh food and vital products to consumers. Illustrating this race to meet demand, Karis Cold is building a 100,000-square-foot facility in Chicago's historic Stockyards district, while Alston Construction is underway on a 389,880-square-foot
freezer storage facility in Plainfield, Illinois, in partnership with Barber Partners. "Chicago's an industrial hub, a food manufacturing hub,” said Jake Finley, CEO of Karis Cold. “Throughout the city, you've got the restaurant supply chain, you've got the retail supply chain and the shift to more and more food that we're consuming being temperature controlled throughout its life cycle.”
Tom Degan, vice president of cold storage for Alston Construction Company, added that population shifts to the east, availability of skilled labor in the Midwest and access to major transportation networks also make Chicagoland a go-to for temperature-controlled space. “The pandemic greatly increased e-commerce in all markets but especially in the grocery sector,” Degan COLD STORAGE (continued on page 14)