Prime Cold Storage Facility and Development Land Available
Hilco Real Estate Sales has listed a remarkable opportunity for investors seeking a well-located food-grade cold storage facility in Kentucky. This expansive site is not just a functional cold storage operation but also a multifaceted development opportunity situated at a prime intersection.
Facility Overview and Specifications
The cold storage facility, originally constructed in 1980 and expanded in the subsequent years, boasts a substantial area of approximately 290,915± square feet. It features a range of specialized storage environments including 78,396± square feet dedicated to cold storage. The facility consists of four distinct temperature-controlled zones: a 5,697± square feet ultra-low freezer set at -20°F, a -10°F freezer space of 38,531± square feet, a cooler at 28°F spanning 7,735± square feet, and another cooler area maintained at 38°F over 19,313± square feet. Additionally, the site includes facilities for loading, with 44 dock-high loading doors and nine refrigerated docks, ensuring high efficiency in operations.
Strategically Designed for Cold Chain Operations
This facility is specifically designed to optimize cold chain operations, ensuring products remain in ideal condition from storage to distribution. The property spans over 32± acres and is zoned C-2 (General Business), allowing a variety of industrial and commercial uses, from food processing to logistics and distribution services in healthcare and agriculture.
Strategic Location and Accessibility Benefits
Strategically located at the intersection of Barbourville Road and Kentucky Route 192, this property benefits from high visibility and easy access. It’s just two miles from Interstate 75, a vital north-south corridor across the United States. This strategic positioning connects the facility to key markets, enhancing its logistics capabilities and appeal to potential investors or operators.
Growth and Development Potential in the Region
The surrounding area of Laurel County is witnessing significant growth, with the local population steadily increasing. There are key infrastructure projects in progress, including a substantial $16 million initiative to improve regional roads, facilitating easier transportation and elevated access to the facility. These enhancements are set to handle increased traffic volumes, further boosting the site's attractiveness.
Additional Development Opportunities
In addition to the main operational facility, the offering includes an adjacent 7± acres of land for development. This part of the property allows potential buyers to either expand the existing cold storage operations or develop commercial establishments such as gas stations, restaurants, or other service-oriented businesses.
Expert Insights from Hilco Real Estate Sales
Steve Madura, senior vice president of Hilco Real Estate Sales, expressed optimism regarding this property, stating that it presents a rare chance to revitalize a crucial segment of London's industrial landscape. By reopening the facility, it could restore essential jobs and establish a vital logistics hub positioned to cater to the growing needs of local communities.
Chet Evans, vice president at Hilco Real Estate Sales, noted that the combination of cold storage infrastructure, strategic interstate access, and developable land creates an attractive proposition for logistics operators and investors keen to tap into Kentucky's burgeoning business environment.
Bidding Process and Details
Interested parties must submit bids by the specified deadline. On-site inspections of the property will be conducted by appointment, providing prospective buyers an opportunity to explore the site firsthand. Detailed terms of sale can be found on Hilco Real Estate Sales' official site to ensure transparency and inform all interested bidders of the necessary requirements.
Frequently Asked Questions
What is the total area of the cold storage facility?
The facility encompasses approximately 290,915± square feet, with significant areas allocated for dry and cold storage.
What types of goods can be stored in this facility?
It is primarily designed for food-grade items, featuring several temperature-controlled environments suitable for perishable products.
Where is the cold storage facility located?
The facility is strategically positioned at the intersection of Barbourville Road and Kentucky Route 192, near Interstate 75.
What growth is expected in the region surrounding the facility?
Laurel County is experiencing population growth, with numerous infrastructure projects underway designed to enhance local accessibility and support ongoing development.
How can interested buyers submit their bids?
Bidders can submit their offers by following the instructions provided on Hilco Real Estate Sales' website prior to the established deadline.
