RealtyLink and BentallGreenOak form Cold Storage Development Joint Venture
Greenville, SC
RealtyLink proudly announces the launch of a programmatic joint venture with BentallGreenOak (BGO) focused on the development of cold storage warehouses. This joint venture will construct a portfolio of Class-A cold storage facilities across the U.S., capitalized by a significant future equity commitment from BGO and RealtyLink. The launch of this platform represents a continued expansion of RealtyLink’s industrial portfolio. The cold storage asset class is represented under RL Cold.
“This partnership with BGO is monumental in the growth and diversification of our company,” said RealtyLink Founding Principal Phil Wilson. “The venture will work to resolve an identified cold storage need for numerous suppliers around the country. We are extremely optimistic about this endeavor and what it means for RealtyLink.”
RealtyLink’s cold storage development team is based out of the firm’s Atlanta office, led by Principal, Thomas Eldridge, VP of Cold Storage, Josh Lewis, and VP of Cold Storage Operations, Russ Watkins.
“We have forged an aggressive expansion plan to solve for the measurable deficiencies within the cold chain and aligning ourselves with BentallGreenOak, a leader in cold storage real estate investment, further solidifies our commitment to the sector,” added Thomas Eldridge. We believe [RealtyLink or RL Cold” is poised to become one of the most prolific cold storage developers in the U.S. for years to come.”
The first projects acquired by the venture are located near Houston, TX and Charleston, SC. The Houston area project will be 283,000 SF of convertible freezer/cooler storage located in Baytown, TX, and is actively under construction with completion scheduled for August 2022. The Charleston area project will be 300,000 SF of convertible freezer/cooler space located in Ridgeville, SC with construction expected to commence in early 2022 with a targeted completion date of March 2023.
About RealtyLink, LLC and RL Cold
RealtyLink, LLC, a full-service real estate developer headquartered in Greenville, SC, was founded in 1998 by Phil and Neil Wilson, with Jack Jamison joining the partnership in 2001. Specializing in industrial, entertainment, residential, and retail properties, RealtyLink provides a full spectrum of services including market analysis, site selection, construction management, project funding, sale leasebacks, and much more.
The division of RL Cold is focused out of RealtyLink’s Atlanta, GA office. It leads the company’s initiatives and is the driving force behind the cold storage developments across the country.