Leading Voices in Real Estate Kevin Marchetti | Executive Chairman and Co-Founder of Lineage Logistics, Co-Founder of Bay Grove
Jun 17, 2024
Kevin Marchetti, Executive Chairman and Co-Founder of Lineage Logistics and Bay Grove, discusses his journey in building the world’s largest cold-storage portfolio. He reveals how acquiring family-owned warehouses has shaped their approach, blending logistics and real estate. Interestingly, he shares a compelling story about strawberries, highlighting their lifecycle from harvest to the consumer. Kevin also emphasizes Lineage's ambitious plans for carbon neutrality and renewable energy, making strides as a leading solar adopter. His insights on innovation and sustainability redefine the cold-chain industry.
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Cold Storage Became An Institutional Asset
- Cold storage evolved from a fragmented family-owned niche into an institutionalized, high-value real estate and operating company asset class.
- Kevin Marchetti says owning and operating cold warehouses creates synergies and scale that pure real estate ownership cannot capture.
Learning The Business In A Tough 2008 Deal
- Kevin recounts buying a ground-leased cold warehouse in Seattle in 2008 and learning the business by living in the warehouse for a year.
- He credits negotiating with the port, union, lenders, equity, and sellers within eight weeks as formative experience.
Industry Conferences As Deal Pipelines
- Industry conferences doubled as a target-rich M&A environment and mentor network for Bay Grove.
- Families who saw Bay Grove's commitment began calling them with deals and advisory roles.