Vertical Cold Storage enters Dallas market
Vertical Cold Storage recently purchased Lone Star Cold Storage of Richardson, Texas.
The terms of the transaction were not disclosed.
Vertical is a developer and operator of temperature-controlled distribution centers sponsored by real estate asset manager Platform Ventures.
“Lone Star Cold Storage has so many things going for it, including a top-rated team, ease of access to interstate highways without significant road traffic, a flexible building that can accommodate a wide variety of commodities, including ice cream, and proximity to more than two-thirds of the country’s population within a two days drive,” said Curt Mastbergen, president of Vertical Cold Storage. “We are fortunate to have such great people in place at the facility and are looking forward to working with the current management team.”
The Richardson warehouse boasts 227,331 square feet, with 5,645,661 cubic feet of storage space, 17,982 pallet positions, and 40 dock doors. The facility, which uses an energy efficient and environmentally friendly ammonia refrigeration system that keeps cost down while providing the required temperature range, is partitioned into seven rooms, allowing for multiple temperature needs from -20 to 45 degrees F. Services include blast freezing, case picking, cross dock, and EDI capabilities, with kitting support available.
“As I plan my retirement from an industry I have really enjoyed, it is important to me that I hand off my customers and dedicated colleagues to a high-quality, service-focused organization, and Vertical Cold Storage is that company,” said Andrew Fisk, CEO and president of Lone Star Cold Storage. “The business is in very good hands with Curt and his team.”
Vertical is establishing a network of cold storages around the United States and will bring in best practices from the collective experience of its leadership to make the Richardson Lone Star Cold Storage operation even better by leveraging technology and automation for more consistent customer service, the company said.
“The DFW market is one of the most important in North America, so we’re pleased to complete this part of our network so quickly,” said Ryan Anderson, co-president and co-founder of Platform Ventures. “Combined with the recently acquired Liberty Cold Storage distribution center near Chicago, Vertical Cold already has a large portion of the country covered.”
