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Americold Realty Trust buys St. Paul, Minn., cold storage facility for $56M

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Americold Realty Trust buys St. Paul, Minn., cold storage facility for $56M

Americold Realty Trust paid $56 million to acquire the Newport-St. Paul Cold Storage facility in St. Paul, Minn.

The 6.1 million-cubic-foot temperature-controlled storage facility features about 26,000 pallet positions and three acres of adjoining land available for expansion.

The industrial real estate investment trust also completed its acquisition of Nova Cold Logistics, a Canada-based owner and operator of three temperature-controlled storage facilities.

The portfolio totaling 23.5 million cubic feet consists of roughly 81,000 pallet positions and additional acreage for future expansions.