IAMC News Briefs—Week of October 24, 2022
By John Salustri
IAMC BLOGS-- The supply chain. Leasing in a landlord’s market. Energy issues. Carbon reduction. These were just some of the critical topics covered in-depth during the recent IAMC Fall Forum in Detroit. But the 20th Anniversary Forum wasn’t about business alone, and attending members got ample chance to catch up and network with their peers in a variety of venues.
https://www.iamc.org/Blog/ArtMID/27836/ArticleID/7127/Four-Days-in-Detroit-IAMC-Fall-Forum-Goes-Deep-on-Critical-Issues
SUPPLY CHAIN DIVE—Amazon has its sights set on doubling (and then some) its EV fleet in Europe, to the tune of $1 billion euros (US $981 million). With some 3,000 electric vehicles on European roads today, the mega e-tailer plans on having 10,000-plus EVs delivering packages by 2025. It’s all part of Amazon’s plan to hit zero carbon emissions by 2040.
https://www.supplychaindive.com/news/amazon-plans-to-double-zero-emission-fleet-europe-electric-vehicles/634625/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-10-21%20Supply%20Chain%20Dive%20%5Bissue:45440%5D&utm_term=Supply%20Chain%20Dive
COMMERCIAL PROPERTY EXECUTIVE—British fashion maker Boohoo is planning a 1.1-million-square-foot distribution center in Elizabethtown, PA, and DHL Supply Chain is on board to provide next-day logistics services. Boohoo will move into the First Industrial-owned facility early next year. (JLL repped for the REIT in the deal.) DHL will provide some high-tech services for the tenant, including automated storage and retrieval. The deal will ultimately result in some 2500 new jobs over the next three years.
https://www.commercialsearch.com/news/dhl-supply-chain-supports-uk-retailers-expansion/
GLOBEST.COM—Wafra, specializing in global alternative investments, and fund manager Arden Group are pooling their resources for a $1-billion aggregation of industrial facilities through the US. The target properties consist of outdoor storage sites, truck terminals, trailer parking facilities and last-mile port locations. Their selected cities so far are Atlanta, Austin, Dallas, Houston and Miami. CBRE served as Arden’s financial advisor.
https://www.globest.com/2022/10/20/wafra-arden-group-aim-to-aggregate-1b-of-industrial-service-facilities/
COMMERCIAL OBSERVER—A four-way JV plans to roll out a whopping 2 million square feet of industrial space in Hagerstown, MD. With a target completion date of a year from now, the project, dubbed Currwood Logistics Park, is being led by MCB Real Estate with Invesco Real Estate, Curated Development Group and Birchwood Capital Partners rounding out the partnership. The two buildings in the project will feature 36- to 40-story clear heights, 185-foot truck courts and such energy-saving features as LED lighting and high-efficiency heating. Cushman & Wakefield will handle leasing.
https://commercialobserver.com/2022/10/large-2m-sf-spec-industrial-development-coming-to-hagerstown/?utm_campaign=daily-roundup&utm_content=2022-19-10-29419304&utm_source=Sailthru&utm_medium=email&utm_term=CO%20Daily%20Newsletter
BUSINESS INSIDER—At 100,569 square feet, Core5 Industrial Partners’ planned warehouse in Lowhill Township, PA, isn’t as large as the above-mentioned Hagerstown plan. But its proposal can have major, national implications. Local residents say they’re getting fed up with the increasing truck traffic. Since 2018, especially with the added drive of COVID-19-related e-commerce, some 21 new warehouses—approximately 9.7 million square feet—have opened in the area. While certain residents applaud the economic boost of industry, others are balking at what they consider rapid, unregulated development, even though Pennsylvania is a right-to-develop state. The local planning commission is currently working with area municipalities to develop consistent development policies.
https://www.businessinsider.com/lehigh-valley-warehouse-opposition-limit-development-2022-10?utm_source=copy-link&utm_medium=referral&utm_content=topb