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Saxum Real Estate, along with its partner Black Salmon, has begun development of a 294,840-square-foot cold storage project for Arcadia Cold in Joliet. Marc Duval, Ed Halaburt and Wells Waller of JLL represented the owner in securing joint venture equity. Bank OZK is providing debt financing. Clayco is the general contractor. The project will feature a clear height of 50 feet and convertible rooms. Completion is slated for the first quarter of 2026. Arcadia is the seventh-largest cold storage operator in the U.S., according to a release.