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NewCold Upsizes by Nearly 600% at 500 W. Madison

Colliers’ Dougal Jeppe represented NewCold in its North America headquarters expansion at KBS’ 500 W. Madison St. in Chicago’s West Loop. With the new lease, NewCold, one of the fastest growing advanced automated warehouse and cold chain logistics companies in the world, expands its office space nearly six-fold from 6,000 to 35,564 square feet.  

“Convenience, economics and an ideal space in which to grow really drove this deal,” said Jeppe. “The West Loop continues to be a destination for highly successful companies.” 

Jonas Swarttouw, VP of business development at NewCold, added, “Having a great office environment is a key enabler for our team and critical for all of the supply chain, logistics, engineering, IT, and other talent we will be hiring in the coming years.” The Netherlands-based company reportedly plans to increase its local headcount by 125 over the next two years.  

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Colliers' Jeppe

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).

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