Lockhart, Texas, USA: RealCold, backed by Related Fund Management, a real estate developer, is financing a new cold chain logistics business, RealCold. RealCold is starting with construction later this year of two cold stores, the first, a 376,000-square-foot cold store in Lakeland, Florida, and the second in Lockhart, Texas.
Related previously developed the mixed-use Hudson Yards in New York City. RealCold is spending about $150m on each of the first two warehouses and plans to expand the network to include over 10 sites in six markets by the end of 2025. The firm said it has some commitments from food companies but not all the space is spoken for in the first two projects which are expected to be finished in two years.
