Bain, Barber Form Way Cool $500M JV for Next-Gen Cold Storage
Boston MA-based Bain Capital has partnered with Barber Partners, LLC, on the formation of a national programmatic joint venture to develop 15 Class A cold storage warehouses under the Chill Storage brand.
The JV launches with the objective of deploying $500 million over the next several years.
“With the growing complexity of the food and beverage supply chain, we believe our highly adaptable, modern warehouse design will allow us to meet the full spectrum of food tenant needs and provide critical infrastructure to the US food distribution system,” said David DesPrez, a director at Bain Capital
“There is no question that there is an enormous need for new, modern cold storage facilities – even before Covid the consumption of prepared and frozen meals was rapidly on the rise,” added Patrick Barber, chairman of the board of Barber Partners.
The JV’s first project is a Class A speculative freezer/cooler facility located in the Dallas-Fort Worth metro.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.