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Developers Flock to Cold Storage as Americans Stock Their Freezers



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“The immediate change in consumer behavior due to Covid has caused companies to change how they service those demands,” said Art Rasmussen, a senior vice president at CBRE, a real estate investment and services firm. “Covid has accelerated the online growth by several years, and the infrastructure wasn’t quite ready to take on that capacity.”Updated April 20, 2021, 12:43 p.m. ETBuilding near population centers is logical, but not necessarily easy or cheap. “Traditionally, people shied away from it because it was capital intensive,” said Tim O’Rourke, managing director at real estate research and services firm JLL.“Supply and demand …

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