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When cold storage real estate investment trust Lineage’s stock market debut became the year’s biggest initial public offering in late July, it confirmed something that some industrial investors had suspected for quite a while: Keeping things cold is a hot business.

Cold storage is the latest specialized asset class to climb up CRE's most sought-after ladder, with existing facilities aging out and unable to meet the needs of today’s supply chain. Demand is only likely to grow further as global warming begins mandating changes to food systems across the planet, adding to optimism for developers and investors in the sector.