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July 3, 2023

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Developers have proposed or begun construction on a total of 5.3 million square feet of cold warehousing in the US Southeast. July 3, 2023 | Journal of Commerce 37 Special Report Cool Cargoes Market Report told the Journal of Commerce. "They bring in lobster from one area and ship it to another." Schiappacasse said development around the port is "exploding," espe- cially as shippers begin to trickle up from Miami, where operations are more congested and drayage costs are higher. With just shy of 1.3 mil- lion square feet under construction, Florida accounts for approximately two-thirds of the total cold storage under construction in the South- east, according to CBRE. Jacksonville, said 10 other compa- nies are developing an additional 2.5 million square feet of cold storage space within six miles of the port, including three facilities that are expected to open in 2024. The majority of that space is dedi- cated to frozen food, with poultry, beef and seafood as major import and export commodities. "We have a local company here that used to be an importer of seafood, and now they're a trader around the world," Schiappacasse S&P Global. Total US volumes have fallen 8.5% year over year in the first five months of 2023, but Southeast ports handled 20.3% of that total, up from 17.9% in 2020, while West Coast ports saw their market share slip to 24% from 26.9%. Newcomer FlexCold, based in Charleston, opened its first warehouse in Jacksonville, Fla., last year and already has plans to double the size of the 150,000-square-foot facility due to strong demand, President Todd Jessup told the Journal of Commerce. "You've got the migration of people to the Southeast, but you've [also] had the globalization of imported seafoods and exporting and importing vegetables and poul- try proteins," he said. Moving markets Rick Schiappacasse, director of specialty cargo sales for Port of "Four announcements all were made within the last year, and that just demonstrates the growth that's happening."

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