Done Deals: September 3, 2020

VEREIT, Inc. and Ocean West have acquired a newly constructed, 2.3 million square foot distribution and warehouse facility that is leased by an investment grade home improvement retailer. The property located in Dallas, Texas, was bought for US$246.7 million. The acquisition is part of VEREIT’s industrial partnership with Korea Investment & Securities Co., Ltd., which is advised by Ocean West.

c-LEcta, a global biotechnology company has engaged World Courier, an AmerisourceBergen company for the transport of time-critical and temperature-sensitive enzymes that are used for gene therapy and production of vaccines. Transport is carried out in specialized packaging that allows for a secure cold chain and continuous temperature tracking. World Courier specializes in the transport of time and temperature sensitive products for the biopharmaceutical industry.

Nippon Express Co., Ltd. has completed the acquisition of MD Logistics, LLC and MD Express, LLC (together, MD Logistics)  through its U.S. subsidiary, Nippon Express USA, Inc. MD Logistics, established in 1996, is a domestic logistics provider for the pharmaceutical and retail industries in the United States. The deal is part of Nippon Express Group’s expansion into pharmaceutical logistics, and gives it access to the U.S. market, which accounts for about 40 percent of global pharmaceutical demand.

UPS has landed a deal to deliver products purchased on eBay in the U.S. The full launch of this new shipping option will be available to all sellers by the end of September. Through this integration, UPS will be added to eBay Labels, and sellers will be eligible for discounts on some UPS services.

TriFactor Solutions LLC, a subsidiary of Air Transport Services Group, Inc., has been awarded a contract to design and install a multi-divert sortation system in Xenia, Ohio, for Passion Growers LLC of Miami, Florida. The project includes the design and installation of an automated system to sort inbound cases for Passion Growers’s shipping operation. Passion Growers’s new Xenia warehouse is expected to open in November 2020.

China-based e-commerce company US Elogistic Services Corp has signed a 232,229-square-foot lease at the Prologis Vernon Business Center in Vernon, California. This is the largest industrial lease signed in the Central Los Angeles submarket this year, based on square footage. US Elogistic Services Corp will be using the space for global e-commerce fulfillment.

– September 3, 2020