IAMC News Briefs—Week of September 19, 2022
By John Salustri
SUPPLY CHAIN DIVE—The ongoing need for timely delivery to healthcare providers has driven Medline’s commitment to greater inventory resilience. Earlier this year, the medical-products maker earmarked $500 million to boost on-hand inventory to $4 billion worth of product. The move comes on the heels of the firm’s $1.5-billion plan to improve its infrastructure and shore up its supply chain.
https://www.supplychaindive.com/news/medline-invests-500-million-in-inventory-/631924/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-09-16%20Supply%20Chain%20Dive%20%5Bissue:44597%5D&utm_term=Supply%20Chain%20Dive
GLOBEST.COM—Spanish investment firm Pontegadea has scored five US logistics centers for $722 million. The assets, located in South Carolina, Virginia, Pennsylvania and Texas, all carry long-term leases with such corporate heavy hitters as Amazon, Nestle and FedEx. This is the latest in a series of deals Pontegadea has done with Realty Income, which merged with VeREIT in April of last year.
https://www.globest.com/2022/09/15/pontegadea-acquires-5-logistics-centers-for-722m/
TRANSPORT DIVE—Marty Nordlund has set his sites on new business. In what has been called a “leadership shift,” the Werner Enterprises COO will step down at the end of the year to focus on new client relations. Senior VP Eric Downing will fill the position vacated by Nordlund. As previously reported, this is the second recent leadership change for Werner. Previously, CFO John Steele announced his retirement.
https://www.transportdive.com/news/werner-eric-downing-becoming-coo-replacing-marty-nordland/632315/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-09-21%20Transport%20Dive%20%5Bissue:44692%5D&utm_term=Transport%20Dive
WEALTH MANAGEMENT REAL ESTATE—Forces such as inflation, the Russian/Ukrainian war and (of course) supply chain disruptions are just some of the factors driving foreign investors to seek safe-haven opportunities in the US. Key among those is industrial. According to the Association of Foreign Investors in Real Estate (AFIRE), Q2 cross-border investment volume jumped by 16% year-over-year to $6.5 billion, and some $2 billion of that came from warehouses and last-mile distribution centers. Also on the list are multifamily and such alternative asset types as single-family residential, student housing and self-storage.
https://www.wealthmanagement.com/investment-strategies/foreign-investors-continue-seek-stability-us-real-estate
JLL—JLL Capital Markets has secured a $99-million construction loan for Phase 1 of a planned five-building industrial park in Mesa AZ. When complete, Sossaman Park 202, owned by a joint venture headed by private investment firm Contour, will total more than 1.6 million square feet in eight light industrial, warehousing and distribution buildings. The four-year floating rate loan was provided by Pacific Western Bank. No completion date was reported.
https://www.us.jll.com/en/newsroom/construction-loan-secured-for-a-industrial-development
URBAN LAND INSITUTE—The first purpose has been targeted for roads and bridges, but can building construction be far behind? Georgia Power has shaken hands with Eco Material Technologies to harvest coal ash for the creation of concrete. The twin goals are to reduce use of carbon-heavy Portland cement and reduce the amount of ash—a residue from coal burning—in landfills. The deal calls for some 600,000 tons of coal ash to be harvested annually. The harvesting is set to begin in 2024 and eventually grow to 9 million tons, which the utility believes will be the largest single coal-ash reuse effort in the US.
https://urbanland.uli.org/sustainability/greening-construction-utility-company-and-technology-outfit-partner-for-largest-u-s-coal-ash-reuse-project/?utm_source=realmagnet&utm_medium=email&utm_campaign=HQ%20Urban%20Land%2009%2E19%2E22