Cold storage company nears $4.5 million land deal with port
Cold Summit Development’s 343,000-square-foot multitenant cold storage facility in Dallas is located on a 29-acre site. The $60 million facility is fully leased.
Courtesy Cold Summit DevelopmentThe Port of Pasco will consider a contract to sell 30 acres at its Reimann Industrial Center to an Idaho-based cold storage company.
Port commissioners had previously approved a $4.5 million purchase and sale agreement with Cold Summit Development in March. However, the company sought a change to the contract terms for permitting and building timelines to satisfy its lender. A compromise on those changes will be discussed and considered at the April 9 port meeting.
Port officials said last year that Darigold was in discussions with a cold storage company to potentially co-locate with its facility under construction at Reimann. Cold Summit also leases space in one of its Dallas facilities and one in Arizona to Michigan-based Lineage Logistics, whose 12-acre cold storage facility in Finley was destroyed by fire in the summer of 2024. Lineage also has warehouses in Pasco, Richland, Prosser and Grandview.
Cold Summit was founded in 2019 and has six cold storage facilities across the country, with three of them fully leased out and another available for lease beginning in the second quarter of this year.
The Pasco facility would be Cold Summit’s only Pacific Northwest property.
The company says it builds its facilities with materials sourced in the U.S. with a focus on environmentally friendly and sustainable materials. Every facility is designed to accommodate on-site solar generation and the company says it is the only cold storage real estate developer that partners with EnergyStar, the energy efficiency certification program from the Environmental Protection Agency.
“Cold Summit Development facilities are intentionally designed to be the most energy efficient cold storage ever built,” the company says on its website.
One of the company’s two facilities in Dallas was built on a similarly-sized parcel of land in 2021. It is 343,000 square feet and cost about $60 million to construct.
The port meeting will be at 10:30 a.m. April 9 at the port’s offices at 1110 Osprey Pointe Blvd. in Pasco. The agenda may be viewed online and the meeting is available remotely.
