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Colliers Aids Largest Cold Storage Lease in Southeastern United States
Colliers has facilitated the lease of Provender Partners’ 486,353-square-foot industrial cold storage facility in Birmingham, AL. The building was leased to AFH Logistics, provider of supply chain solutions, for a duration of 10 years.
According to Colliers, the agreement represents the largest cold storage lease in the Southeastern US.
“The demand we are seeing for cold storage is quite active and underscored by the amount of speculative cold construction planned in the coming years and currently underway, increased investor and capital interest in cold storage, a continuing trend of compressing cap rates and significant rental rate increases on second generation cold space,” said Chris Cummings, SVP with Collier’s food advisory services group.
The tenant, AFH Logistics, holds a contract with the U.S. Federal Government to provide food and equipment to areas affected by natural disasters and plans to use this building as a logistics center to carry out this work.
- ◦Lease
