Investment firm invests in Braddock cold storage facility

© Shutterstock

Massachusetts-based Arctaris Impact Investors, an investment firm focused on businesses and community infrastructure projects in underserved communities, recently announced it is investing $7.3 million in a specialty manufacturing and cold storage facility in Braddock.

The investment will allow Arctaris and RDC, a Pittsburgh-based integrated real estate and construction company, to re-open and lease the facility. The companies plan to renovate the building and invest in clean refrigerated space.

Clean refrigerated space can be used for cold storage, food processing, pharma processing, and specialty manufacturing.

Tenants also will have access to onsite battery storage and rooftop solar generation.

“This investment is about bringing continued economic growth to Braddock. The facility will benefit the broader community through more than bricks and mortar; it’s offering hope, jobs, and security for local residents,” Nihar Sait, Arctaris managing director, said. “Arctaris is committed to creating positive, sustainable change in underserved communities, and this investment is a powerful step supporting the revitalization of Braddock.”

Work will be conducted in two phases. The first phase will demolish portions of the interior, repair of the cooling tower, renovation of the processing facility, and power supplies. The second phase will involve customization for a tenant’s specific manufacturing requirements.

The previous tenant’s business closed in 2022 and facility has been vacant.