HOUSTON – (Realty News Report) – The 15,000-acre Cedar Port Industrial Park near the Port of Houston is gaining a major cold storage facility, according to CBRE.
CBRE has advised on the placement of equity and debt for Blackline Cold Storage, LLC for the construction of a cold storage facility located at Cedar Port Industrial Park, which is in the Baytown area near the Grand Parkway.
CBRE’s Gordon Reynolds and Brian Myers of CBRE Capital Advisors, along with Jeff Stein and Brock Hudson of CBRE’s Debt and Structured Finance team in Houston, and Art Rasmussen and David Norrie with CBRE’s Food Facilities Group arranged the joint venture equity and financing on behalf of Blackline Cold Storage. Blackline Cold Storage is a Houston based real estate firm specializing in cold storage development and operations.
The facility will be part of the TGS Cedar Port Industrial Park, which is the largest master planned, rail-and-barge served industrial park in the USA and one of the first industrial parks with rail access near the Port of Houston.
The property is within the heavy-haul corridor near the Barbours Cut and Bayport container terminals,
The approximate 300,000 SF cold storage facility is expected to be completed in the first quarter of 2022. The property will be developed on a 36-acre site that was recently purchased by Blackline and Artemis Real Estate Partners. Project features include multiple segregated temperature zones, 48-foot ceiling heights, up to 50 truck doors, blast freezing capability, and rail connectivity.
Blackline has selected the Tippmann Group, an industry leader in temperature-controlled facilities, for the facility design and construction which will incorporate flexibility for multiple segregated temperature zones (including blast freezing capability
Interest in cold storage assets has heightened during the pandemic, according to CBRE’s 2021 U.S. Real Estate Market Outlook. Growth in online food sales, particularly for perishables and refrigerated/frozen foods, have piqued investor interest in cold storage properties.
Cedar Port, where U.S. Steel’s Texas Works plant was once located, is about three miles from Exxon Mobil’s massive Baytown refinery. The site has barge access to the Barbour’s Cut Terminal at the Port of Houston. The industrial park has extensive rail lines.
April 30, 2021 Realty News Report Copyright 2021
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Photo Credit: Blackline Cold Storage
File: Cold Storage to Chill