Chicago & Midwest + South Side | May 18, 2022

Karis Cold has acquired a refrigerated warehouse in Chicago's Back of the Yards neighborhood

Karis Cold Taps into Hot Sector with Back of the Yards Warehouse Deal

NAI Hiffman brokered the off-market sale of 1556 W. 43rd St., a 225,000-square-foot refrigerated warehouse in the Back of the Yards neighborhood on Chicago’s South Side, and the business occupying the facility, Ashland Cold Storage, on behalf of buyer Karis Cold. Karis Cold has engaged Artico Cold Storage to assume the facility’s operations.

John Basile, EVP with NAI Hiffman’s Industrial Brokerage Group, represented Karis Cold along with Jay Maher, SVP at Nelson Hill.

“The current demand for refrigerated warehouses in premier locations is insatiable,” said Basile. “As a result, what used to be a niche sector is now being sought by all the major players. In such a crowded landscape, companies like Karis Cold are able to find extra value by pursuing complicated, off-market opportunities that take a little more time to understand.”

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Inside The Story

NAI Hiffman's Basile

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).