Boomerang Interests Inks Full-Building Lease on Houston ColdPort

HOUSTON, Sept. 13, 2022 /PRNewswire/ -- Boomerang Interests (www.boomeranginterests.com), CenterSquare Investment Management (www.centersquare.com) and Lineage Logistics (www.lineagelogistics.com) today announced that they have entered into a full-building lease for Houston ColdPort, a 315,111 square foot cold storage warehouse speculatively developed by Boomerang.  

"We're pleased to partner with Boomerang on this important project in a critical market for our customers," said Brian Beattie, President, North America ? West of Lineage Logistics. "Houston ColdPort further expands our leading presence in the Houston Metro area and strengthens our capabilities to efficiently import and export customer product through the Port of Houston. We are excited to drive additional value to our customers' supply chains in Texas and beyond via the ColdPort project."

Houston ColdPort, a joint venture between Boomerang and CenterSquare Investment Management, is constructed on a 22.5-acre site at the Northwest corner of Beltway 8 and US-90. The site is strategically located in the heavy-haul corridor of Port Houston and provides unparalleled access to the Barbours Cut and Bayport terminals and major US east-west and north-south thoroughfares ? Beltway 8, US-90, Interstate 10 and Interstate 69.

"The supply-demand imbalance and aging inventory of cold storage facilities in Houston initially attracted us to the industry; these dynamics have accelerated during construction of Houston ColdPort," said Andy Cyrus, Co-Founder and Managing Partner of Boomerang. "What an honor to see our thesis validated by Lineage Logistics, the preeminent cold storage operator. As we pursue cold storage development in other markets, we hope this is one of many future partnerships with the Lineage team."

ARCO Design/Build designed and constructed Houston ColdPort. Houston ColdPort features a 50-foot clear height warehouse, a 60-foot-deep cold dock, 38 dock positions with vertical storing hydraulic dock leveler equipment, LED lighting throughout, a Tyco Quell dry fire sprinkler system, a 200-foot-deep truck court with 57 trailer parking spaces and ample automobile parking.

"Our conviction in the cold storage space remains extremely high as evidenced by our investments in the sector across our listed and private platforms," said Jeffrey Reder, Managing Director of CenterSquare. "We couldn't be prouder of the value created in Houston ColdPort through our partnerships with Boomerang and Lineage, and we look forward to future opportunities to replicate this success.

Boomerang Interests is a Houston-based real estate development firm specializing in cold storage industrial development. Boomerang pursues speculative development, build-to-suit development, joint venture opportunities or a hybrid of the foregoing to deliver cold storage solutions to underserved markets. Boomerang's target customer segments include 3PLs, food manufacturers, food retailers, food wholesalers and other industries that utilize cold storage. For more information, visit www.boomeranginterests.com.

Lineage Logistics is one of the world's leading temperature-controlled industrial REITs and logistics solutions providers. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 20 countries across North America, Europe and Asia-Pacific.?Lineage's industry-leading expertise in end-to-end logistical solutions, its real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. For more information, visit www.lineagelogistics.com.

For more information about Houston ColdPort, please contact:

SOURCE Boomerang Interests , LLC