Karis Cold, FreezPak, Saoud Development, and L&B Realty Advisors jointly announced a new cold storage development in Suffolk, Virginia. The near-port industrial site will be a 245,400-square-foot temperature-controlled warehouse and is set to break ground this month. The operating company of Saoud Development/FreezPak Logistics, has committed to a long-term lease and is set to occupy the site in 2025.
FreezPak Logistics, a 4PL, is actively expanding its portfolio, currently overseeing the construction of over 58 million cubic feet of storage space in 2024. The Suffolk location will feature 35 loading docks, 60 trailer parking stalls, 90 container plug-ins, and 62 car parking spaces.
“Karis Cold and FreezPak are national players with long track records of success in the cold storage arena and having them here will be a welcome asset to the port community,” said Stephen A. Edwards, CEO and executive director of the Virginia Port Authority. “Development of nearly a quarter of a million square feet of cold storage capacity in our market is important for a couple of reasons. It will help the port of Virginia expand its cold and refrigerated cargo business and it is another signal to the industry that there is real value in developing in and around this port, which is America’s most modern gateway. We’re looking forward to working with both companies to ensure success.”
This facility will stand at a towering height of 75 feet, housing 49,512 pallet positions within a 191,909-square-foot freezer space and an additional 38,567 square feet of cooler dock. They will also build solar array and a hydrogen fueling station for fork trucks, over the road trucks and yard switchers. FreezPak has dedicated itself to a greener approach by implementing hydrogen and solar panels, which will serve as a power source for the facility, aligning with its commitment to reduce its environmental footprint.
“We are excited to develop another port-centric facility. FreezPak’s mission is providing exceptional customer service and creating long lasting client partnerships,” said David Saoud, co-founder/CEO. “We look forward to expanding our service offerings to our valued clientele at the Norfolk Port.
The site will offer various services such as blast freezing, cross-docking, LTL and FTL transportation, repacking, overseas container plug-ins, E-commerce, and USDA/FDA inspections. Strategically situated just 14 miles from the Norfolk Terminals, the FreezPak Suffolk location ensures immediate access to major transportation routes including Interstates 95, 164, 664, 64, 264, and U.S. routes 58, and 460.
“We have loved the Port of Virgina since our first visit back in 2021 – we planned a great speculative project and in the process were fortunate enough to meet the FreezPak team. This is an exciting project to combine our fantastic port-location with a top operating partner and cold storage provider. Many thanks to the team at the Port of Virgina for all their support,” said Jake Finley, CEO of Karis.
About FreezPak Logistics
Established in 2001 as a family business by two young brothers first inspired by their father, Freezpak Logistics offers frozen, cooler, and dry storage combined with industry-leading third-party logistics services to ensure the availability of the nation’s food supply. Their highly personal and professional approach is dedicated to offering their customers an end-to-end solution spanning every major port-centric market in the country.
About Saoud Development
Established in 2021 by the founders of FreezPak Logistics, Saoud Development serves as both the property owner and developer of cold storage facilities for FreezPak. The Saoud brothers leading this venture have been instrumental in designing sites strategically positioned within key port markets across the United States. Their extensive expertise lies in securing funding for these cutting-edge facilities, known for their advanced technology, automation, and designed for high- speed distribution.
About Karis Cold
Karis Cold is a private-equity backed real estate entity dedicated solely to addressing the unique real estate requirements of the cold storage industry nationwide. Our approach is distinct: we don’t operate cold storage facilities; we conceptualize, construct, own and lease them. Operating as an opportunistic fund, Karis embraces diverse development and investment strategies, leveraging decades of collective experience in real estate development, logistics and supply chain management, construction proficiency to deliver a best-in-class product.
