Industrial Merger Could Impact Entire Market
Two of America’s largest cold storage landlords are expected to merge this quarter or first quarter of next year.
Americold and Versacold own and manage over 62 million square feet of cold storage assets in North America. With their largest footholds in Pennsylvania, Georgia and Florida, the merger would create a behemoth of cold storage assets.
The demand is minimally diminished for food/grocery storage only due to the retail demand down due to economic conditions. However, the cyclical demands shall return and the consumer will again buy in bulk and food and perishables need to be kept cold.
This prospective merger will create efficiencies and standards that will improve logistics, distribution and speed to market and consumer.
-Paul A. Waters, SIOR, CCIM, CRE, FRICS
Based in New York City, Paul Waters, SIOR, CCIM, CRE, FRICS, is Executive Vice President-The Americas at NAI Global, where he is responsible for business development and client relationships among major corporate end users of office and industrial space.
About the author
NAI Global is the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 5,000 professionals and 325 offices in 55 countries throughout the world. NAI professionals work together with our global management team to help our clients strategically optimize their real estate assets. NAI offices around the world complete over $45 billion in transactions in a typical year. We also manage over 200 million square feet of commercial space. In 2009-2010, NAI Global received top industry rankings and honors: Named Global Broker of the Year by Private Equity Real Estate magazine Ranked # 1 Network and #3 Overall Corporate Services Provider in Watkins Research Group Survey of Corporate Real Estate Executives Ranked #4 on Lipsey’s Top 25 Real Estate Brands Ranked #6 on National Real Estate Investor magazine’s Top 25 Brokerage Organizations NAI Global is based in Princeton, New Jersey. A dedicated 70-person staff, strategically positioned around the world, provides management, technology, marketing and corporate services support to its network of real estate offices.
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