By Commercial Property Executive | AZ Big Media (Submitted Photo)
Ti Cold Development has secured a new source of capital to finance its growing cold storage portfolio. The company has partnered with BentallGreenOak, which has committed to providing capital to fund Ti Cold’s developments in the U.S. and Canada.
Ti Cold has already identified key markets in its U.S. and Canada footprint that will draw on the capital from the partnership. The first two projects that will utilize BentallGreenOak’s funds are currently underway and are expected to complete in 2022.
Ti Cold’s 318,060-square-foot cold storage project in Phoenix will be the first development to utilize BentallGreenOak’s capital. The facility will be built with 177 million cubic feet of storage space, 40,000 pallet positions, 50-foot clear heights, a 60-foot deep refrigerated dock, 40-foot deep refrigerated rear rail dock, and -20 to 60 degrees Fahrenheit fully convertible storage space. The building will be located in Copperwing Logistics Center, which allows for access to BNSF Railway, and to the area’s three major roads, Loops 101, 303 and Northern Parkway.