Demand for warehouse space is continuing to soar as retailers and brands hustle to meet simmering demand for e-commerce orders and fast home delivery that has stayed hot despite federal efforts to cool off rising inflation through interest rate hikes. In one measure of the trend, the industrial real estate firm Tishman Speyer this week launched a joint venture with Mitsui Fudosan America (MFA), the U.S. arm of the $65 billion Japanese real estate firm Mitsui Fudosan Co. Ltd. Fueled by $500 million from MFA and an unspecified investment from Tishman Speyer, the partners plan to acquire, develop, redevelop, and operate industrial properties in certain U.S. cities. The partnership will focus primarily on major urban centers with dynamic workforces, growing populations, and high barriers to entry, the companies said. They cited examples such as Los Angeles, the New York Metro region, the Puget Sound region, San Francisco Bay Area, Austin, San Diego, Washington D.C., Boston, and Chicago.
That’s all for this week. Enjoy the weekend, the long weekend for Thanksgiving, the opening of the World Cup, and the song of the week, Adam Sandler’s Thanksgiving Song.
The post This Week in Logistics News (November 12 – 18) appeared first on Logistics Viewpoints.