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Box Equities has announced the acquisition of a Rivian Distribution Center in Normal, Illinois, alongside a FedEx facility in Detroit and a property in Dublin, GA. This brings their total to four acquisitions in Q4. Box's strategy focuses on buying commercial properties in areas with strong labor pools to meet the growing demand for distribution centers. Chairman Haim Dabah expressed enthusiasm for Rivian's growth following its IPO, affirming Box's commitment to supporting their success.
Positive
Acquisition of Rivian Distribution Center enhances Box Equities' portfolio.
Focus on commercial properties in labor-rich markets positions Box to meet heightened demand for distribution centers.
Strategic investments align with local economic development efforts to create job opportunities.
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Combined with a new Fedex facility in Detroit, Box has added 4 new acquisitions in Q4
NEW YORK--(BUSINESS WIRE)--
Box Equities, a real estate investment group focused on the consumer goods industrial sector, today announced that it has acquired a Rivian Distribution Center in Normal, Illinois. Rivian (NASDAQ: RIVN) the Amazon-backed EV start-up, recently went public in one of the biggest IPOs to date. Box further announced the acquisition of a Fedex facility located in Detroit, MI, as well as an additional property in Dublin, GA. These three new acquisitions, together with the recent Hanesbrands Distribution facility, have added 4 new acquisitions to Box’s portfolio in Q4 alone.
Box’s investment strategy focuses on purchasing commercial properties in markets with loyal labor pools, allowing the Company to be well positioned to address the increased demand for distribution and fulfillment centers as well as the current labor shortage.
“Rivian’s commitment to EV and their recent massive IPO make them one of the most exciting new companies today,” said Haim Dabah, chairman of Box Equities. “We are thrilled that Rivian is now a Box Equities tenant and look forward to being a part of their future success story.”
“We are pleased to add Rivian, Fedex, & Hanesbrands to our tenant roster this quarter," said Mac Dabah, Managing Director of Box Equities. “The new Dublin facility expands our existing footprint in that market, where we worked closely with the local economic development authority to help create new job opportunities. We continue working with local communities to offer our deep expertise in commercial real estate and logistics to help them optimize their employment opportunities."
Box Equities’ four cofounders include retail and real estate veterans Haim Dabah, Mac Dabah, Ori Schwartz, and Michael Dabah. Their combined expertise at the intersection of retail, logistics and real estate uniquely positions Box Equities to help retailers unlock liquidity and enhance their balance sheets in a variety of ways, including through creative leasing solutions.
About Box Equities Box Equities helps retailers rationalize their real estate to improve liquidity and profitability. Chairman Haim Dabah, a 40-year retail veteran, has extensive experience building and marketing digitally native brands. Dabah in 2007 sold Regatta to the then $20BHong Kong-based global supply chain conglomerate Li & Fung. His son, Mac Dabah, cofounder and managing director of Box Equities, is an experienced commercial real estate investor with extensive logistics experience. Ori Schwartz, cofounder and director of acquisitions, is a seasoned real estate investment manager with a deep understanding of the e-commerce landscape, and general counsel Michael Dabah brings a strong grasp of the retail and real estate industries and a creative approach to complex commercial transactions.
What properties did Box Equities acquire in Q4 related to Rivian?
Box Equities acquired a Rivian Distribution Center in Normal, Illinois, along with a FedEx facility in Detroit and a property in Dublin, GA.
How does the acquisition of Rivian's distribution center affect RIVN's business?
The acquisition positions Rivian favorably in the logistics sector, enhancing operational capabilities but specific financial impacts on RIVN were not detailed in the press release.
What is Box Equities' investment strategy?
Box Equities focuses on acquiring commercial properties in markets with strong labor pools to address the growing demand for distribution and fulfillment centers.
Who are the key figures at Box Equities involved in the acquisition?
Key figures include Haim Dabah, chairman, and Mac Dabah, managing director, who have extensive experience in retail and logistics.
