I am happy to announce another edition of the Los Angeles Insider. To download the latest Insider, please click here. Now, here is the latest in Supply Chain Real Estate News…
Food and beverage firms have proposed over 90 cold storage projects totaling more than $1.6 billion. Second quarter will be the strongest in terms of construction starts with 44 projects breaking ground.
Alcoa is moving its headquarters back to Pittsburgh from New York City. The move will only involve 10 employees who will join an existing workforce of 205.
According to New York-based research firm Reis, Inc., demand for ecommerce and international trade has led to an additional 54.7 million square feet of new warehouse/distribution space in 2017.
Blackstone’s non-traded REIT, Blackstone Real Estate Income Trust, acquired a six million square-foot industrial portfolio from High Street Realty for $402 million. The properties are located in Atlanta, Chicago, Houston, Harrisburg, Dallas, and Orlando.
GM ceased its Venezuela operations as its manufacturing plant with 2,700 workers was seized by the Venezuelan government liked to a court case there.
Amazon is searching for 1,300 warehouse across Europe to fulfill its one-hour Prime Now delivery service. Amazon first introduced one-hour delivery in Europe in 2015.
Best Buy leased a 479,310 square foot distribution facility in the Los Angeles area city of Compton. Their lease follows UPS’ lease of a 521,816 square foot facility next door in September 2016.