Summit real estate firm, feeling bullish on cold storage, creates specialty platform

Saxum Real Estate, a boutique real estate investment and development firm based in Summit, has launched a cold storage & industrial platform, closing on three industrial cold storage developments in the last quarter.

The company said in a news release that, over the past 18 months, it has pursued a cold storage investment strategy through more than $100 million in capitalizations.

“Early on, Saxum recognized the fragmented and undersupplied cold storage investment space and, through our vertically integrated platform, we stand to serve the broader market by delivering institutional quality cold storage investments,” Anthony Rinaldi, managing principal, said in a prepared statement. “These developments highlight the importance of the U.S. food supply chain and the growing demand for high-quality freezer and cooler space.”

Most recently, Saxum partnered on a 22-acre cold storage development in Texas with Yukon Ventures, with two phases of the project creating about 800,000 square feet of freezer and cooler warehouse space.

Earlier in the quarter, the company closed on two cold storage opportunities, both build-to-suit developments for single tenants in Opportunity Zones — one in Texas and one in Michigan.