**Cold Storage JV Secures $78.5M Refinancing for Atlanta-Area Facility**
The owners of a cold storage facility in Lula, Georgia, have secured a $78.5 million refinancing. The 268,000-square-foot property was developed by RL Cold Storage and BGO and delivered in November 2024.
According to CommercialEdge, the refinancing was arranged by Newmark, with QuadReal providing the debt. The facility is fully leased to CJ Logistics and includes 38 dock doors, 38,259 pallet positions, and parking for 106 cars and 52 trailers.
Located at 3875 Cornelia Highway, approximately 62 miles northeast of downtown Atlanta, the cold storage warehouse is adjacent to the planned 104-acre Northeast Georgia Inland Port. Once complete, the Inland Port will offer direct connectivity to the Port of Savannah, enhancing the property’s logistical value.
Newmark’s Nick Scribani, Blake Thompson, Jordan Roeschlaub, and Jonathan Firestone arranged the financing on behalf of RL Cold and BGO.
Since forming their joint venture, RL Cold and BGO have developed four cold storage facilities, with four more currently in progress and two additional projects in the planning phase.
