Venture One, BGO Get Underway on Long Island Cold Storage Facility
This spec project will come online late next year.
Venture One and BGO Cold Chain have broken ground on Venture Park Cold at ISP, a speculative Class A cold storage facility in Ronkonkoma, N.Y. Completion of the Long Island property is expected in the fourth quarter of 2025.
The 137,470-square-foot building at 2100 Smithtown Ave. will be a purpose-built cold storage asset with insulated metal panel construction and feature a fully convertible freezer/cooler with temperature ranges of –10 degrees Fahrenheit to +35 degrees Fahrenheit.
The warehouse is set to feature a 40-foot clear height with a 28-foot cold dock and an insulated glycol floor slab. The property will also include 18 loading docks expandable to 25, one drive-in door and parking for 194 cars.
Thomas DeLuca, Frank Frizalone, Nick Gallipoli and John Giannuzzi of Cushman & Wakefield will market the property.
READ ALSO: Why Cold Storage Is Getting Hotter
The facility has been designed to accommodate either a single user or a multi-tenant scenario, Venture One Senior Vice President Brian McDonagh told Commercial Property Executive. He added that an office building previously on the site had to be demolished before this project could proceed.
The site is adjacent to the Long Island MacArthur Airport, just north of Veterans Memorial Highway. The location is also close to Long Island Expressway, which provides access to Hunts Point Cooperative Market, the world’s largest food distribution center.
Cold stays hot
The strength of the cold storage sector is clear not just in acquisitions, but even more so in recent development projects, despite construction costs two to four times higher than those for dry industrial buildings.
Last month, Saxum Real Estate broke ground on a 322,600-square-foot build-to-suit cold storage facility in Crown Point, Ind., for Arcadia Cold. Delivery is expected in the second quarter of 2026.
In September, BGO and Yukon Real Estate Partners started construction on a 291,000-square-foot cold storage property near Kansas City, Mo. This project too is already spoken for, with CJ Logistics America having committed to taking the entire facility.
And in August, RL Cold and BGO broke ground on a 215,766-square-foot spec cold storage warehouse in Mount Laurel, N.J. That development is rising on the site of a former office building as well.
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