Scout Capital to acquire cold storage logistics center in Southern NJ
Southern NJ — As demand for climate-controlled industrial space rises in the U.S., a new development is underway in Southern New Jersey comprising 332,000 s/f of cold storage set for completion late summer. The facility, named Scout Cold Logistics Center - South Jersey, will serve tenants in the perishables industry including online retailers, supermarkets, and pharmaceutical companies. The facility is located just 18 miles outside central Philadelphia and 100 miles from New York City, putting it within a two-hour reach of nearly 20 million people.Construction of the Scout Cold Logistics Center comes amidst pent-up demand for cold storage facilities across the U.S., with climate-controlled facilities emerging as critical components of the nation’s infrastructure. Notably, these facilities are equipped to store food supplies, medications, and other perishable goods. This trend has been accelerated by the COVID-19 pandemic and is expected to intensify due to the continued growth of online grocery shopping.