Lineage, Inc.

The company is the world's largest global temperature-controlled warehouse real estate investment trust (REIT). As of December 31, 2025, it operated an interconnected global network of 501 temperature-controlled warehouses, totaling approximately 88 million square feet and 3.1 billion cubic feet of capacity. These warehouses are predominantly located in densely populated critical-distribution markets, with 326 in North America, 89 in Asia-Pacific, and 86 in Europe. The company serves over 11,000 customers, including large food retailers, manufacturers, processors, and food service distributors, providing a technology-enabled customer experience for their temperature-controlled supply chain needs. For the year ended December 31, 2025, the company generated $5.4 billion of revenue, a net loss of $0.1 billion, net operating income (NOI) of $1.7 billion, and Adjusted EBITDA of $1.3 billion. During 2025, the company acquired four cold storage warehouses and related assets from Tyson Foods for $256 million. It also entered an agreement to design, build, and operate two fully automated cold storage warehouses with Tyson Foods as the anchor customer, breaking ground on one in Texas during the second half of the year. In 2025, a new greenfield warehouse in Bremerhaven, Germany, was completed, and a significant expansion at the Hobart, Indiana cold storage facility was near completion, becoming operational in early 2026.