IAMC News Briefs — Week of August 22, 2022
By John Salustri
GLOBEST.COM—Some 235 Madison Marquette team members are moving over to Avison Young. Under the newly signed agreement, Avison’s new and expanded offerings will now include office and industrial management, leasing, project management, engineering and accounting for more than 20 million square feet of real estate assets. The deal, expected to close next month, includes properties primarily in California, Texas, the East Coast and Hawaii. Meanwhile, Madison Marquette will pivot its focus to more investment management and advisory services.
https://www.globest.com/2022/08/19/avison-young-to-pick-up-business-lines-from-madison-marquette/
COMMERCIAL OBSERVOR—Amazon is reportedly still in cutback mode. The mega e-tailer has canceled, shuttered or postponed 49 delivery processing facilities as online sales continue to slump, a decision that paces out to some 50 million square feet of space. Don’t read too much into the scale-back, however. The firm is still going forward with what is said to be its largest US warehouse lease--4.1 million square feet in the Inland Empire.
https://commercialobserver.com/2022/08/amazon-nixes-or-delays-opening-almost-50-warehouses-e-commerce-online-retail/?utm_campaign=daily-roundup&utm_content=2022-24-08-28825585&utm_source=Sailthru&utm_medium=email&utm_term=CO%20Daily%20Newsletter
COMMERCIAL PROPERTY EXECUTIVE—Eight new industrial buildings will be coming out of the ground in Las Vegas, the first venture there for Lincoln Property Co. and its LPC Desert West entity. Dubbed Windsor Commerce Park, the 86-acre site, close by the North Las Vegas Airport, will feature 1.6 million square feet of class A industrial, boasting 36-foot clear heights, 24-foot glass entries and touchless technology. Representing more than 1500 local jobs, the buildings are slated for a Q4 2024 completion.
https://www.commercialsearch.com/news/lincoln-property-to-build-1st-industrial-development-in-las-vegas/
WEALTH MANAGEMENT REAL ESTATE—Despite the higher cost of stateside production, the trend toward reshoring is intensifying. Trade disputes, especially those between the US and China and the ongoing Ukrainian war are all driving manufacturers home, says Colliers SVP of Supply Chain Solutions Brewster Smith. According to The Reshoring Initiative, a non-profit focused on promoting the reshoring of jobs, 860,000 of the 1.3 million jobs coming back to the US over the past two years were driven by either private business or the federal push for the trend. How big has the move become? Homebased manufacturing jobs topped those offshore by 100 percent for the second consecutive year, says Smith.
https://www.wealthmanagement.com/industrial/surge-re-shoring-activity-continues-creating-more-demand-industrial-space
TRANSPORT DIVE—Kodiak Robotics is joint-venturing with Pilot Co., the truck-stop firm, on an autonomous truckload center in Atlanta. The planned upgrades to an existing facility will feature pickup and drop-off spaces for autonomous trucking loads. The test site will also offer, “inspections, maintenance and the ability to transfer data for processing, such as feature development and mapping,” states the report. The specific location and timeline are still on the table, but the ultimate plan is to use the Pilot network of 700 locales to roll the concept out around the US.
https://www.transportdive.com/news/kodiak-and-pilot-partner-for-av-truckport/630315/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-08-24%20Transport%20Dive%20%5Bissue:44054%5D&utm_term=Transport%20Dive