Ti Cold Development Announces Strategic Real Estate Partnership with BentallGreenOak
MELBOURNE, Fla., April 23, 2021 /PRNewswire/ -- Ti Cold Development, a division of the nationally recognized leader in cold storage design and construction, Tippmann Innovation, announced that global real estate investment manager BentallGreenOak (BGO) has committed to providing capital to fund real estate development in all of Ti Cold Development's land positions. BGO has been a leader in the development and acquisition of cold storage assets in North America, Europe and Asia for over 5 years. BGO's equity commitment to Ti Cold Development will support the construction and development of state-of-the-art cold storage assets in multiple Ti Cold Development markets in the US and Canada.
Ti Cold Development will initially access this capital for the company's growth into pre-identified key markets in the US and Canada, beginning with two projects underway in Phoenix, Arizona, and Reno, Nevada. Ti Cold Development's projects represent innovative, ESG focused, sustainable solutions targeted to meet the critical market demand-driven needs for cold storage infrastructure and are poised to make long-lasting, positive impacts to the environment and cold storage industry.
"Ti has a deep relationship with BentallGreenOak — dating back to our first engagement with the firm in the development of a cold storage facility in Seattle in 2017. BGO's global track record of investment in cold storage real estate development is strong. Drawing on our relationship with BGO as our capital partner, Ti Cold Development is positioned to continue building on the foundation it has laid over the course of two decades to continue advancing the development of essential cold storage infrastructure in underserved markets throughout North America," said Sam Tippmann, Principal at Ti Cold Development. "We believe that through the powerful combination of our cold storage development experience and BGO's real estate capital, Ti Cold Development will be able to realize its vision to build a scalable, socially responsible and environmentally conscientious cold storage industry, in each of the markets and regions in which we build."
The first Ti Cold Development project utilizing BGO's pre-committed capital is currently being designed in Phoenix, Arizona. This state-of-the-art cold storage location will boast approximately 177 million cubic feet of storage space, nearly 40,000 pallet positions, a 60-foot-deep refrigerated dock, 40-foot-deep refrigerated rail dock and -20 to 60 degrees Fahrenheit, and fully convertible refrigerated/frozen space. Strategically situated within the Copperwing Logistics Center, this location that is well-endowed with investments in infrastructure lies within a pre-approved foreign trade zone, allows for connected access to Class I rail through BNSF Railway, and is conveniently situated to three major thoroughfare connections: Loop 303, Loop 101 and Northern Pkwy.
"We are developing this location not only to serve the needs of the current consumers within the Phoenix market, but to also provide a sustainable, scalable and customizable solution to better serve the needs of the region moving into the future," said Rob Adams, Principal at Ti Cold Development.
The second facility that Ti Cold Development is currently designing is in Reno, Nevada, situated within the heart of the Tahoe Reno Industrial Center. This new Reno location offers convenient access to the I-80 corridor and the Union Pacific Intercontinental rail line. Upon completion, this facility will boast nearly 255,000 sq. ft. of storage space, 40,000 pallet positions, and a 41,000 sq. ft. refrigerated dock.
Both the Phoenix and Reno projects are expected to be completed in 2022 and are designed to support a variety of market-driven cold storage and e-commerce demands.
About Ti Cold
Known as an award-winning, specialty industrial cold storage builder with decades of experience in designing and building state-of-the-art facilities across the United States. Ti Cold utilizes time-honed expertise and advanced technology solutions to create efficient buildings that scale with a business and that are designed to maximize profitability through fully integrating operations and supply chain. Ti Cold provides a full suite of cold storage construction services, including master site planning, and operations guidance. Ti Cold consulting services help companies navigate the unique challenges associated with a rapidly changing industry. Ti Cold is a division of Tippmann Innovation with offices in Florida and Indiana.
For more information, please visit ticold.com
Media Contacts
Mr. Rob Adams
Principal, Ti Cold Development
e. [email protected]
p. 260-424-2222
SOURCE Ti Cold Development
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