IAMC News Briefs—Week of November 7, 2022
By John Salustri
TRANSPORT DIVE—FedEx is road-testing a pricing simplification plan it has dubbed “space and pace.” The program is designed to account for the space a shipment takes up in the back of a truck as well as its weight and shipping speed. The move is said to do away with more cumbersome freight classifications outlined by the National Motor Freight Classification pricing system. By pricing based on dimensional or actual weight (whichever is larger) the firm believes it can reduce shipping costs for customers who “prioritize spatial efficiency in packaging their shipments.”
https://www.transportdive.com/news/fedex-dimension-based-pricing-pilot-weight-space-and-pace/635774/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-11-04%20Transport%20Dive%20%5Bissue:45781%5D&utm_term=Transport%20Dive
COMMERCIAL PROPERTY EXECUTIVE—The 5.7-million square-foot Prologis Park in Aurora, CO is about to get even bigger, 1 million square feet bigger, in fact. Owner Prologis has purchased an additional 55 acres to grow the park with new spec buildings set to break ground in Q2 of 2023. CBRE is handling the marketing, with options for leases, sales or build-to-suit developments. How the square footage is configured—as either three or four buildings--has yet to be determined.
https://www.commercialsearch.com/news/prologis-to-expand-denver-area-industrial-park-by-1-msf/
TRANSPORT DIVE—“We are searching for companies with strong management teams that we expect to retain with a company culture that has demonstrated a high focus for valuing its professional drivers, carriers, associates and customers.” So said Werner Enterprises Chair, President and CEO Derek Leathers on the announcement of its recent acquisition. ReedTMS Logistics, which Werner picked up for $112.4 million, comes with a freight brokerage network of 19,000 carriers. Reed boasts a 28% annual compound revenue growth rate over the past five years.
https://www.transportdive.com/news/werner-acquires-reedthms-logistics-for-112-million-dollars/635899/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202022-11-07%20Transport%20Dive%20%5Bissue:45814%5D&utm_term=Transport%20Dive
THE REAL DEAL—Two Houston-based investment firms are pooling their resources for 2.5 million square feet of warehouse/distribution space in their hometown. Parkside Capital and Vigavi have purchased 178 acres for their planned Tradepoint 290. The price of the sale, engineered by Colliers, was undisclosed.
https://therealdeal.com/texas/2022/11/08/parkside-capital-and-vigavi-to-build-2-5m-sf-industrial/
GLOBEST.COM—Industrial acquisitions, developments, redevelopments and operations, with an emphasis on sustainability. Those are the drivers behind a joint venture newly formed between Tishman Speyer and Mitsui Fudosan America (MFA). The newly minted JV will maintain a special focus on assets that adhere to ESG standards as well as LEED and GRESB certifications. Seed money to the tune of $500 million has been provided by both Tishman and MFA.
https://www.globest.com/2022/11/09/tishman-speyer-mitsui-fudosan-form-programmatic-jv-for-industrial/