Lineage Logistics, the world’s second-largest cold storage company, has added another space to its portfolio, acquiring the real estate and assets of a facility in University Park, Ill. Financial terms of the transaction weren not disclosed.
The University Park location, which was built in 2004, serves as a distribution facility for national food customers. Its 518,000 square feet includes temperature-controlled storage. Import-export and transportation services are available, as well as on-site inspection by the U.S. Department of Agriculture.
“Our team’s familiarity with UP’s operations and customers are second to none,” said Bill Hendricksen, CEO of Lineage, in a written statement. “By taking ownership, we are able to invest in the facility to enhance our service for our customers.”
Lineage has managed operations at the facility for customers since May 2009.