{"id":1004736340,"date":"2024-11-21T04:30:54","date_gmt":"2024-11-21T12:30:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004736340"},"modified":"2025-02-26T00:28:46","modified_gmt":"2025-02-26T08:28:46","slug":"top-10-markets-for-cold-storage-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/top-10-markets-for-cold-storage-development\/","title":{"rendered":"Top 10 Markets for Cold Storage Development"},"content":{"rendered":"\n

Roughly 26.7 million square feet of cold storage space came online across 103 properties nationwide between 2019 and 2024. This amount was 0.1 percent of the nation’s existing industrial stock, which highlights how small this niche is in the private sector. By contrast, the latest CommercialEdge industrial report<\/a> revealed 283.1 million square feet of industrial space was delivered this year through September alone.<\/p>\n\n\n\n

The global cold storage market was valued at more than $190 billion this year and is forecasted to grow at a compound annual growth rate (CAGR) of 17 percent through 2030, according to a Research and Markets report. Interest from investors and developers in the cold supply chain is intensifying as well, according to David Greek of Greek Real Estate Partners<\/a>. We decided to take a look at what CommercialEdge data reveals about where this growth is happening and compiled a list of the top 10 markets for cold storage development, ranked by amount of space delivered over the past five years.<\/p>\n\n\n\n

Still, accurately tracking the amount of cold storage space is a bit more difficult than other subclasses of industrial. Most facilities are owner-occupied and developed on a build-to-suit basis, while those that are speculative are often constructed as a shell and later outfitted by or for the tenant to specifically serve as cold storage\u2014few of those are specifically advertised for this purpose. A significant portion of cold storage is found as a component of larger industrial assets. In other words, those facilities serve multiple purposes, not just cold storage, and are harder to identify. Lastly, there is a significant amount of cold storage space that is not found in the private sector.<\/p>\n\n\n\n

Here are the top 10 markets for cold storage development in the U.S., according to construction numbers from CommercialEdge:<\/p>\n\n\n\n