Americold Realty Trust has the import-export hub of 335,000 square feet in Kansas City, Mo. The $ 100 million facility has completed a broader network of Hubs that the company is developing through different partnerships, which will facilitate the more efficient movement of food.
Americold announced the project in February 2024 and broke the same year in April. The City Kansas City provided $ 127.5 million in bonds for development, according to Yardi Research Data.
The facility came online on around 39 hectares on 14981 Thunderbird Road. The most important characteristics of the property include on-site USDA inspections to eliminate border tracts, loading capacity of more than 50,000 pounds per container to reduce the congestion of the highway and a 300-Mile Servic Strap that supports the regional food flow.
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The warehouse has been developed in collaboration with the Canadian Pacific Kansas City Railroad and is the first real estate from Americold on the CPKC Rail Network. The Mexico Midwest Express Import-Exporthub from Kansas City will serve, according to Americold, the only train competitions in North America for cooling items between the US and Mexico.
Americold is located in Atlanta and possesses and operates more than 230 temperature -controlled warehouses worldwide that represent around 1.4 billion cooled cubic foot storage.
Development of cold storage slow
The demand for cooling storage facilities remains strong, the most recently stimulated by the rise of the demand for prepared food that started with the pandemic. Moreover, a lot of the existing cold storage stock approaches the end of the duration of use, with American facilities of almost 40 years old, according to Colliers.
In 2022 and 2023, developers delivered 5.2 million square foot spec -cold storage space, facilitated by low interest rates and strong rents, Colliers noted. In mid -2023, however, development was delayed in the area with a high interest rate, just like the rest of the industrial real estate market. In 2024, only 1.1 million square feet of cold storage space came online.
More recently there is an increase in the development of cold storage, because the market has adapted to the current interest rate climate. Colliers estimates that 2.2 million square foot will be completed this year. Nevertheless, the market is confronted with the headwind, such as uncertainty with regard to rates, labor, taxes and infrastructure expenditure.
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