Lineage Announces Acquisition of Bellingham Cold Storage
Lineage (NASDAQ: LINE), the world's largest temperature-controlled warehouse REIT, has announced the acquisition of Bellingham Cold Storage (BCS), comprising three warehouses in Washington state. The facilities, totaling 24 million cubic feet and 85,000 pallet positions, include the Bellingham Waterfront Warehouse Center, Orchard/I-5 Warehouse Center, and Burlington Dry location.
The strategic acquisition strengthens Lineage's presence in the US Pacific Northwest, where it currently operates 40 facilities across Washington, Oregon, and Idaho. Notably, the deal includes a strategic warehousing footprint at the Port of Bellingham, a important hub for seafood and agricultural products.
The acquisition integrates BCS's 79-year operational history into Lineage's network, with BCS's existing team members joining Lineage. The company aims to maintain BCS's service standards while leveraging the Port of Bellingham's ongoing modernization project to enhance its cold chain capabilities in the region.
Lineage (NASDAQ: LINE), il più grande REIT di magazzini a temperatura controllata al mondo, ha annunciato l'acquisizione di Bellingham Cold Storage (BCS), che comprende tre magazzini nello stato di Washington. Le strutture, per un totale di 24 milioni di piedi cubi e 85.000 posizioni per pallet, includono il Bellingham Waterfront Warehouse Center, l'Orchard/I-5 Warehouse Center e la sede di Burlington Dry.
L'acquisizione strategica rafforza la presenza di Lineage nel Pacifico nord-occidentale degli Stati Uniti, dove attualmente opera 40 strutture in Washington, Oregon e Idaho. È importante notare che l'accordo include una posizione strategica di magazzinaggio presso il Porto di Bellingham, un importante hub per prodotti ittici e agricoli.
L'acquisizione integra i 79 anni di storia operativa di BCS nella rete di Lineage, con i membri del team esistente di BCS che si uniscono a Lineage. L'azienda mira a mantenere gli standard di servizio di BCS, sfruttando il progetto di modernizzazione in corso del Porto di Bellingham per migliorare le sue capacità di catena del freddo nella regione.
Lineage (NASDAQ: LINE), el mayor REIT de almacenes con temperatura controlada del mundo, ha anunciado la adquisición de Bellingham Cold Storage (BCS), que comprende tres almacenes en el estado de Washington. Las instalaciones, que suman 24 millones de pies cúbicos y 85,000 posiciones de palets, incluyen el Bellingham Waterfront Warehouse Center, el Orchard/I-5 Warehouse Center y la ubicación de Burlington Dry.
La adquisición estratégica fortalece la presencia de Lineage en el noroeste del Pacífico de EE. UU., donde actualmente opera 40 instalaciones en Washington, Oregón e Idaho. Cabe destacar que el acuerdo incluye una huella de almacenamiento estratégica en el Puerto de Bellingham, un importante centro para productos del mar y agrícolas.
La adquisición integra los 79 años de historia operativa de BCS en la red de Lineage, con los miembros del equipo existente de BCS uniéndose a Lineage. La empresa tiene como objetivo mantener los estándares de servicio de BCS mientras aprovecha el proyecto de modernización en curso del Puerto de Bellingham para mejorar sus capacidades de cadena de frío en la región.
라인이지(Lineage) (NASDAQ: LINE), 세계 최대의 온도 조절 창고 REIT가 벨링햄 콜드 스토리지(Bellingham Cold Storage, BCS)를 인수했다고 발표했습니다. 이 인수에는 워싱턴주에 위치한 세 개의 창고가 포함되어 있으며, 총 2400만 입방 피트와 85,000 팔레트 위치를 보유하고 있습니다. 이 창고에는 벨링햄 워터프론트 창고 센터, 오차드/I-5 창고 센터, 벌링턴 드라이 위치가 포함됩니다.
이 전략적 인수는 미국 태평양 북서부 지역에서 라인이지의 입지를 강화하며, 현재 워싱턴, 오리건, 아이다호에서 40개의 시설을 운영하고 있습니다. 특히 이번 거래에는 해산물 및 농산물의 중요한 허브인 벨링햄 항구에 대한 전략적 창고 공간이 포함되어 있습니다.
이번 인수는 BCS의 79년 운영 역사와 라인이지의 네트워크를 통합하며, BCS의 기존 팀원들이 라인이지에 합류하게 됩니다. 회사는 BCS의 서비스 기준을 유지하면서 벨링햄 항구의 진행 중인 현대화 프로젝트를 활용하여 이 지역의 냉장 유통 능력을 향상시키는 것을 목표로 하고 있습니다.
Lineage (NASDAQ: LINE), le plus grand REIT d'entrepôts à température contrôlée au monde, a annoncé l'acquisition de Bellingham Cold Storage (BCS), comprenant trois entrepôts dans l'État de Washington. Les installations, totalisant 24 millions de pieds cubes et 85 000 emplacements de palettes, incluent le Bellingham Waterfront Warehouse Center, l'Orchard/I-5 Warehouse Center et l'emplacement de Burlington Dry.
Cette acquisition stratégique renforce la présence de Lineage dans le nord-ouest du Pacifique américain, où elle exploite actuellement 40 installations à travers Washington, l'Oregon et l'Idaho. Notamment, l'accord comprend une empreinte d'entreposage stratégique au Port de Bellingham, un important hub pour les produits de la mer et agricoles.
L'acquisition intègre les 79 ans d'histoire opérationnelle de BCS dans le réseau de Lineage, avec les membres de l'équipe existante de BCS rejoignant Lineage. L'entreprise vise à maintenir les normes de service de BCS tout en tirant parti du projet de modernisation en cours du Port de Bellingham pour améliorer ses capacités de chaîne du froid dans la région.
Lineage (NASDAQ: LINE), der größte REIT für temperaturkontrollierte Lagerhäuser der Welt, hat die Übernahme von Bellingham Cold Storage (BCS) bekannt gegeben, die drei Lagerhäuser im Bundesstaat Washington umfasst. Die Einrichtungen, die insgesamt 24 Millionen Kubikfuß und 85.000 Palettenplätze umfassen, beinhalten das Bellingham Waterfront Warehouse Center, das Orchard/I-5 Warehouse Center und den Burlington Dry Standort.
Die strategische Übernahme stärkt die Präsenz von Lineage im US-Pazifischen Nordwesten, wo das Unternehmen derzeit 40 Einrichtungen in Washington, Oregon und Idaho betreibt. Bemerkenswert ist, dass der Deal eine strategische Lagerfläche im Hafen von Bellingham umfasst, einem wichtigen Zentrum für Meeresfrüchte und landwirtschaftliche Produkte.
Die Übernahme integriert die 79-jährige Betriebsgeschichte von BCS in das Netzwerk von Lineage, wobei die bestehenden Teammitglieder von BCS zu Lineage wechseln. Das Unternehmen hat das Ziel, die Servicestandards von BCS aufrechtzuerhalten und gleichzeitig das laufende Modernisierungsprojekt im Hafen von Bellingham zu nutzen, um die Kühlkettenfähigkeiten in der Region zu verbessern.
- Strategic expansion of cold storage capacity with 24M cubic feet and 85K pallet positions
- Acquisition of key Port of Bellingham location for seafood and agricultural products
- Integration of established 79-year-old business with strong operational track record
- Strengthened market position in Pacific Northwest with 40 facilities network
- None.
Insights
Lineage's acquisition of Bellingham Cold Storage represents a strategic expansion of its temperature-controlled logistics network in the competitive Pacific Northwest market. The addition of 24 million cubic feet and 85,000 pallet positions across three facilities significantly enhances Lineage's operational capacity in a region already anchored by 40 existing facilities.
The most valuable aspect of this acquisition is securing a footprint at the Port of Bellingham, which serves as a critical gateway for seafood and agricultural products. This port access creates a strategic advantage for Lineage by positioning the company directly at a crucial supply chain node, reducing transportation legs and enabling more seamless handling of temperature-sensitive products from water to warehouse.
For supply chain stakeholders, particularly those in seafood processing and agriculture, this vertical integration at the port level typically translates to improved cold chain integrity, reduced handling, and potentially faster market access. The acquisition also demonstrates Lineage's continued focus on port-proximate facilities, which are increasingly valuable assets in food supply chains where maintaining temperature control from production to distribution is essential.
By absorbing BCS's operations and workforce, Lineage gains not just physical assets but also 79 years of institutional knowledge and established customer relationships in a specialized market segment. The retention of this expertise will likely ease integration challenges while preserving service continuity for existing customers - a critical consideration in the high-service requirements of cold storage logistics.
This acquisition aligns perfectly with Lineage's core strategy of expanding its specialized warehouse footprint in logistically significant locations. For a temperature-controlled REIT, adding three established facilities with 85,000 pallet positions represents meaningful capacity growth in the capital-intensive cold storage sector, where new development faces significant regulatory and cost barriers.
While financial terms remain undisclosed, the transaction likely provides immediate accretion to Lineage's funds from operations (FFO) given that cold storage facilities typically generate premium yields compared to traditional warehousing. The acquisition's strategic value is further enhanced by the waterfront location, as port-adjacent cold storage commands premium rates due to supply and high demand from food importers and exporters.
Particularly noteworthy is how this transaction strengthens Lineage's network density in the Pacific Northwest, creating operational efficiencies and cross-selling opportunities across their now 43 facilities in the region. This network effect typically translates to improved occupancy rates and tenant retention - two critical metrics for REITs.
The mention of the Port of Bellingham's ongoing modernization project suggests additional upside potential as improved port infrastructure typically drives increased demand for nearby logistics facilities. For Lineage shareholders, this represents a calculated expansion that adds irreplaceable assets with high barriers to entry, while further cementing the company's dominant position in temperature-controlled logistics infrastructure across a key agricultural and seafood production region.
The acquisition expands Lineage’s network in the US Pacific Northwest region, which today includes 40 strategically located facilities across
“We are pleased to welcome Bellingham Cold Storage into the Lineage family. This strategic acquisition positions us to better serve customers in the Pacific Northwest and beyond,” said Brian Beattie, President of North America West at Lineage. “Bellingham has long been a cornerstone of the seafood and agriculture industries, and these facilities will allow us to offer additional supply chain solutions for our customers.”
“Lineage has recognized BCS as one of the highest-quality cold chain providers in
“BCS is an important business in the community of
For more information about Lineage’s efforts to build a smarter, more sustainable and efficient food supply chain, visit onelineage.com.
About Lineage
Lineage, Inc. (NASDAQ: LINE) is the world’s largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 86 million square feet and approximately 3.1 billion cubic feet of capacity across countries in
About BCS
Bellingham Cold Storage (BCS) is a leading provider of temperature-controlled warehousing and logistics solutions, with 3 locations strategically located in the Pacific Northwest. Established in 1946, BCS operates state-of-the-art facilities that support the global food supply chain. Learn more at bellcold.com.
Forward Looking Statements
Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such forward-looking statements can generally be identified by Lineage’s use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “objective,” “goal,” “strategy,” “plan,” “focus,” “priority,” “should,” “could,” “potential,” “possible,” “look forward,” “optimistic,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of Lineage’s performance in future periods. Except as required by law, Lineage does not undertake any obligation to update or revise any forward-looking statements contained in this release.
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Investor Relations Contact
Evan Barbosa
VP, Investor Relations
ir@onelineage.com
Media Contact
Christina Wiese
Public Relations Manager
pr@onelineage.com
Source: Lineage, Inc.
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