Latest news with #foodlogistics
Daily Telegraph
3 days ago
- Business
- Daily Telegraph
Fridge sale: Australian cold-storage facility sold for $67m
A massive refrigerating unit in Sydney's northwest has sold for a whopping $66.5m, crowning it Australia's priciest fridge sale. The huge refrigerator facility, spanning more than 10,000 sqm, is located at 1-3 Zeleny Rd in Michenbury. First hitting the market in February 2024 with ambitious price hopes over $75m, the unit has finally changed hands amid a boom in the food logistics industry. The cold-storage warehouse was snapped up by investment company Irongate Group for an almost $10m discount off the initial price expectations. MORE: Packer hold out could face 'unseemly eviction' The facility has been sold with the key advantage of a long-term tenant already secured. Minus 1 Refrigerated Transport, a market leader in cold storage transportation, will commence the lease once building is completed by design and construction company Spaceframe. The property was sold by The Colliers Industrial and Logistics Capital Markets team of Gavin Bishop and Sean Thomson, who sold the property exclusively on behalf of Barber Property Group. MORE: Investor tricks lock out hopeful homebuyers Australia's coldest suburbs exposed The cold storage sector is currently valued at approximately $5.5 billion in Australia, according to Colliers, who claim there is growth potential and limited available stock, accounting for 2-3 per cent of total industrial supply. Mr Bishop noted that as interest rates began to fall and further cuts were expected, more investors were using a 'fund-through' transaction, meaning they were paying for assets during their construction phase. 'We are experiencing heightened demand from both domestic and international investors for core industrial product within Sydney,' he said. Mr Thomson said investor demand for cold storage facilities in Australia continued to grow '(This is) driven by structural tailwinds in food logistics, pharmaceuticals, and e-commerce grocery delivery,' he said. Nationally, the vacancy rate for the broader industrial market currently measures 2.9 per cent, according to Colliers. Cold storage asset vacancies were closer to zero with only a handful of facilities available for lease over the next 12 months. 'As a niche subsector within industrial real estate, cold storage assets offer strong rental growth potential and are often underpinned by long-term leases to high-credit tenants, making them increasingly attractive to institutional capital seeking defensive income and inflation protection,' Mr Thomson said. MORE: Surprise source of Aussies' home deposits exposed Family's dilemma exposes flip side of housing boom 'Crazy' reason young family ditched house for unit
News.com.au
3 days ago
- Business
- News.com.au
Fridge sale: Australian cold-storage facility sold for $67m
A massive refrigerating unit in Sydney's northwest has sold for a whopping $66.5m, crowning it Australia's priciest fridge sale. The huge refrigerator facility, spanning more than 10,000 sqm, is located at 1-3 Zeleny Rd in Michenbury. First hitting the market in February 2024 with ambitious price hopes over $75m, the unit has finally changed hands amid a boom in the food logistics industry. The cold-storage warehouse was snapped up by investment company Irongate Group for an almost $10m discount off the initial price expectations. The facility has been sold with the key advantage of a long-term tenant already secured. Minus 1 Refrigerated Transport, a market leader in cold storage transportation, will commence the lease once building is completed by design and construction company Spaceframe. The property was sold by The Colliers Industrial and Logistics Capital Markets team of Gavin Bishop and Sean Thomson, who sold the property exclusively on behalf of Barber Property Group. Australia's coldest suburbs exposed The cold storage sector is currently valued at approximately $5.5 billion in Australia, according to Colliers, who claim there is growth potential and limited available stock, accounting for 2-3 per cent of total industrial supply. Mr Bishop noted that as interest rates began to fall and further cuts were expected, more investors were using a 'fund-through' transaction, meaning they were paying for assets during their construction phase. 'We are experiencing heightened demand from both domestic and international investors for core industrial product within Sydney,' he said. Mr Thomson said investor demand for cold storage facilities in Australia continued to grow '(This is) driven by structural tailwinds in food logistics, pharmaceuticals, and e-commerce grocery delivery,' he said. Nationally, the vacancy rate for the broader industrial market currently measures 2.9 per cent, according to Colliers. Cold storage asset vacancies were closer to zero with only a handful of facilities available for lease over the next 12 months. 'As a niche subsector within industrial real estate, cold storage assets offer strong rental growth potential and are often underpinned by long-term leases to high-credit tenants, making them increasingly attractive to institutional capital seeking defensive income and inflation protection,' Mr Thomson said.
National Post
02-06-2025
- Business
- National Post
CJ Logistics Makes Top 3PL & Cold Storage Providers List for 16th Straight Year
Article content DES PLAINES, Ill. — For the sixteenth year in a row, CJ Logistics America has been named to Food Logistics' annual Top 3PL & Cold Storage Providers list, which recognizes leaders in food and beverage supply chain management. Article content Article content CJ Logistics has extensive experience and expertise in the food and beverage space, having worked with dozens of manufacturers of various sizes in that sector for decades. The company has also made significant strides to expand its cold storage footprint. CJ Logistics opened a brand new, state-of-the-art frozen and refrigerated facility in Gainesville, Georgia, in November 2024, serving several large food producers. Another cold warehouse is currently under construction just outside of Kansas City and is set to open in Q3 2025, and more frozen and refrigerated storage sites are being targeted by the company in additional key markets throughout the United States. Article content 'We are honored that Food Logistics has named us to their list yet again this year,' said Kevin Coleman, CEO of CJ Logistics America. 'It's an award that recognizes the best of the best in this industry. I am proud and thankful for our employees who work every day to ensure we are delivering the best possible service to our customers. This award is a reflection of their commitment and exceptional capabilities.' Article content CJ Logistics America is a North American-based integrated supply chain service organization with operations in the United States, Mexico, and Canada. The company offers warehousing, transportation, and freight forwarding services for all temperature classes (ambient, temperature-controlled, and frozen). CJ Logistics' customer-centric philosophy ensures that all solutions are tailored to meet clients' specific goals and objectives. Article content Food Logistics reaches more than 26,000 supply chain executives in the global food and beverage industries, including executives in the food sector (growers, producers, manufacturers, wholesalers and grocers) and the logistics section (transportation, warehousing, distribution, software and technology) who share a mutual interest in the operations and business aspects of the global cold food supply chain. Food Logistics also operates SCN Summit and Women in Supply Chain Forum. Go to to learn more. Article content Article content Article content Article content Article content Article content
