CHICAGO, Oct. 8, 2024 /PRNewswire/ -- Saxum Real Estate has broken ground on a 322,600 square foot cold storage project located in Crown Point, IN for tenant Arcadia Cold, a leading third-party logistics (3PL) provider. FCL Builders is serving as the design-build general contractor for the project. Upon completion, the project will feature 50' clear height, ample dock space and dock doors to expedite distribution and container handling services, and convertible rooms with temperature capabilities between -10 to 38 degrees F. The facility will contain approximately 45,000 pallet positions and is expected to be delivered in the second quarter of 2026.
"The project will be a mission critical cold storage location." Sean Gilbert, Principal at Saxum Real Estate
The 26-acre site with I-65 frontage is located in Crown Point, IN, a Chicago submarket with immediate interstate highway access. The property is ideally situated to provide access to large metropolitan centers such as Chicago, Detroit, Indianapolis, Milwaukee, Cleveland, Columbus, Cincinnati, Louisville, St. Louis, and Toronto within a day's drive.
"The project will be a mission critical cold storage location to service the consolidation of commodity food products and a regional distribution hub for perishable product grown and processed in the region including Indiana, Illinois, Michigan, Ohio, and Canada," said Sean Gilbert, Principal at Saxum Real Estate.
"The Arcadia Cold team is very excited to announce this new facility in Crown Point," said JD Schwefler, Arcadia Cold Chief Commercial Officer. "The greater Chicago regional market is critical to our strategy of building out a national distribution network for our customers. This facility, along with another located in a Chicago submarket, which we will announce shortly, will complement each other to serve our customers with regional production and fast-moving consumer packaged goods programs."
Arcadia Cold is currently the 7th largest cold storage operator in the U.S. To date, Arcadia operates five facilities in Hazleton (PA), Atlanta (GA), Ft. Worth (TX), Phoenix (AZ), and Reno (NV). Arcadia also has additional facilities under construction in Jacksonville (FL) and Charleston (SC).
About Saxum Real Estate
Saxum Real Estate is a national vertically-integrated real estate investment and development firm. Saxum's portfolio includes a variety of asset classes with total capitalizations surpassing $3.0 billion with over 12MM square feet nationwide. Its current development pipeline totals over $1 billion in capitalization across cold storage, industrial, and multifamily investments.
Saxum is among the most experienced and active cold storage developers in the United States with over $1 billion in total capitalizations and over 3.5MM square feet delivered/under construction. Saxum's specialized project experience, skillsets and track record allows the firm to execute on highly complex and unique Build-To-Suit (BTS) solutions for Food & Beverage users across the country. www.saxumre.com
About Arcadia Cold
Arcadia Cold specializes in providing third-party handling, storage, distribution, and value-added services to the food industry. We are on a mission to design and deploy modern facilities and provide innovative solutions through the practical application of technology, creating meaningful value for our customers while helping them meet their strategic objectives – establishing The New Age of cold chain. www.arcadiacold.com
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SOURCE Arcadia Cold
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