If a vaccine for COVID-19 is developed and rolled out, that could mean a sudden increase in the need for cold-storage space, as the vaccine would need to be stored in temperature-controlled warehouses. JLL expects to see an increase of hundreds of thousands of square feet of cold storage space in strategic locations across the globe in order to meet demand.
“Some groups are building new assets, but construction has been limited historically,” said Peter Kroner, investor research, industrial, at JLL.
Once a vaccine is approved, a global rollout will begin that will require a massive, coordinated effort across the entire cold-storage chain, including the transportation of the fragile vials to end users. Automation plays a key role in maintaining these very specific conditions, with sensors needed on each freezer box to monitor and ensure consistent temperature.
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