IAMC News Briefs—Week of July 25, 2022
By John Salustri
SUPPLY CHAIN DIVE—Walmart scored a coup of sorts in its new deal with electric vehicle (EV) maker Canoo. Not only will the mega-tailer gain 4500 EVs in the deal, but its exclusivity also squeezes out Amazon. For the five-year run of the deal, Canoo cannot design, build or sell EVs to the rival retailer. The strategy has been dubbed “a defensive maneuver.” Not to be outdone, however, Amazon has a deal in the works for 100,000 EV vans from Canoo rival Rivian. While the e-tailer will have to wait until 2030 for delivery, it’s not marking time. It’s use of EVs in 2020 alone delivered some 20 million packages throughout North America and Europe.
https://www.supplychaindive.com/news/walmart-amazon-rivalry-last-mile-delivery-electric-vehicles-vans-canoo/627254/?utm_source=Sailthru&utm_medium=email&utm_campaign=Newsletter%20Weekly%20Roundup:%20Supply%20Chain%20Dive:%20Daily%20Dive%2007-23-2022&utm_term=Supply%20Chain%20Dive%20Weekender
COMMERCIAL OBSERVOR—Burlington Stores in now the sole occupant of Knox IV, a 410,350-square-foot asset that helps make up Knox Logistics Center in the Inland Empire. The Trammell Crow/Clarion Partners development will also be home to some 11,000 feet of office space for the manufacturer. The deal comes as the center continues to grow, with some 2.7 million feet of class A logistic space currently under construction on a spec basis. When the construction dust clears, more than 4.7 million square feet in eight industrial assets will make up the center. Colliers and Lee & Associates pushed the Burlington deal over the finish line.
https://commercialobserver.com/2022/07/burlington-stores-warehouse-trammell-crow-clarion-lease-southern-california/?utm_campaign=daily-roundup&utm_content=2022-27-07-28513331&utm_source=Sailthru&utm_medium=email&utm_term=CO%20Daily%20Newsletter
REBUSINESSONLINE—Apparel makers are making news on the other coast as well. AS Colour has penned a deal for 240,000 square feet in Southwest Charlotte, NC. The New Zealand-based outerwear maker will use the facility, considered the largest distribution center in its portfolio, as its East Coast operations base. Avison Young closed the deal.
https://rebusinessonline.com/apparel-manufacturer-as-colour-signs-240000-sf-industrial-lease-in-southwest-charlotte/
SUPPLY CHAIN DIVE—It’s hard to keep Elon Musk down. Facing what he dubs “chip drama central,” the critical component shortage that led the carmaker to halt the release of new vehicles this year, he came up with a plan. Specifically, he announced in a recent earnings call that the firm will rewrite software to make the most of its limited chip supply. Going forward, Tesla will work to “integrate more functionality into fewer chips, like the way that it’s gone with laptops and phones,” according to Andrew Baglino, SVP of powertrain and energy engineering.
https://www.supplychaindive.com/news/tesla-chip-semiconductor-shortage/628040/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-07-26%20Supply%20Chain%20Dive%20%5Bissue:43361%5D&utm_term=Supply%20Chain%20Dive
COMMERCIAL PROPERTY EXECUTIVE—Chalk one up for Cushman & Wakefield and CBRE, which represented the seller in the $208-million disposition of The Landing. The 858,900-square-foot industrial campus, spread out over nine buildings, was taken up by Cohen Asset Management. The property sold in three separate transactions. Phoenix is hot apparently for more than its climate. Commercial Edge reports that nearly 13.3 million square feet of industrial traded in Greater Phoenix through Q2.
https://www.commercialsearch.com/news/cohen-completes-208m-phoenix-industrial-buy/