IAMC News Briefs — Week of August 8, 2022
By John Salustri
URBAN LAND INSTITUTE—It’s called the Inflation Reduction Act of 2022, but the legislation floated by senators Chuck Schumer (D-NY) and Bill Manchin (D-WV) has much to say about energy consumption. “The bill aims to reduce U.S. greenhouse gas emissions by 40 percent by 2030,” reports the Urban Land Institute. “It also holds the potential to transform the built environment—but experts say that depends on how much state and local governments work with the private and nonprofit sectors to use the federal investments as a catalyst.” Key to the bill’s mission is $60 billion earmarked for clean energy manufacturing.
https://urbanland.uli.org/sustainability/what-the-historic-u-s-climate-bill-could-mean-for-the-real-estate-industry/?utm_source=realmagnet&utm_medium=email&utm_campaign=HQ%20Urban%20Land%2008%2E08%2E22
TRANSPORT DIVE—It was a good 25-year run, but Werner Enterprises chief financial officer John Steele is retiring. Steele, who joined the firm as controller, will remain in place until a replacement is found. He was an instrumental part in the firm’s growth into one of the nation’s largest truckload carriers. Operating revenues last year reportedly tallied $2.7 billion.
https://www.transportdive.com/news/werner-enterprises-cfo-john-steele-to-retire/628916/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-08-08%20Transport%20Dive%20%5Bissue:43664%5D&utm_term=Transport%20Dive
COMMERCIAL PROPERTY EXECUTIVE—Players close to the deal are mum on details, such as the buyer or sale price, but KKR has disposed of a 13-property Chicago logistics portfolio pacing out to 1.7 million square feet. The portfolio came from a 2020 deal with High Street Logistics Properties.
https://www.commercialsearch.com/news/kkr-sells-1-7-msf-chicago-logistics-portfolio/
SUPPLY CHAIN DIVE—Newly crafted legislation aims to bar railroads from raising prices during service emergencies. The bill, introduced by agriculture and transportation House leaders, would include “service delivery standards” in rail contracts and greatly expand the power of the Surface Transportation Board to regulate railroads when the board declares a service emergency, reports Supply Chain Dive. Shippers who own their railcars will also be allowed to assess fines on railroads in the case of service delays.
https://www.supplychaindive.com/news/freight-rail-shipping-bill-service-emergencies-stb-congress/628926/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-08-08%20Supply%20Chain%20Dive%20%5Bissue:43662%5D&utm_term=Supply%20Chain%20Dive
COMMERCIAL PROPERTY EXECUTIVE—One million square feet of spec industrial space is coming out of the ground in the Louisville, KY suburb of Jeffersonville, IN, thanks to VanTrust Real Estate. It is the third project at River Ridge Commerce Center for Van Trust, which has been building on the master-planned development, a former army ammunition plant, since 2018. CBRE is the leasing agent.
https://www.commercialsearch.com/news/vantrust-breaks-ground-on-1-msf-industrial-project/