Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Home Depot logistics center sells for $247M; $4.3 million in fake Air Jordans seized in Dallas; Alfagomma opens Mexican factory; Grupo Gondi chooses Transplace TMS.
Home Depot logistics center in Dallas sells for $247 million
Big box retailer Home Depot built the facility last year as part of a 152-acre distribution hub at 9314 West Jefferson Boulevard in Dallas.
The acquisition is part of Vereit’s industrial partnership with Korea Investment & Securities Co. The partnership focuses on the acquisition of single-tenant industrial assets under long-term leases to investment-grade tenants, according to a release.
“The property’s logistically desirable location along with the tenant’s creditworthiness and the established long-term lease, make this a strong investment for the growing partnership,” said Thomas W. Roberts, Vereit’s executive vice president and chief investment officer.
The warehouse/distribution center was constructed with the aid of almost $6 million in economic incentives from the city of Dallas. As part of the deal, Home Depot said it would create 800 jobs in the area.
In January, the retailer opened a new 800,000-square-foot flatbed truck distribution center next door to the 2.3 million square-foot warehouse. Home Depot’s flatbed distribution center can handle 65 to 75 trucks per day.
Officials at Home Depot said they could not comment on details of the facility’s lease agreement.
Vereit (NYSE: VER) is a real estate operating company which owns and manages one of the largest portfolios of single-tenant commercial properties in the U.S. Vereit has total real estate investments of $14.7 billion and 3,800 properties.
$4.3 million in Mexico-bound bootleg sneakers seized in Dallas
U.S. Customs and Border Protection (CBP) recently seized more than 1,800 pairs of counterfeit sneakers, including fake “Dior x Air Jordan 1s” shoes, destined for Mexico.
The fake sneaker shipment, which was valued at $4.3 million, also included several other knockoffs bearing Nike and Adidas logos.
The incident was reported on August 10 at Dallas-Fort Worth International Airport, when 60 boxes labeled as “Ball Golf” arrived on a cargo manifest from Hong Kong.
While examining the shipment, CBP inspectors noted several styles of footwear bearing the registered trademarks of Nike and Adidas. Due to the poor quality of workmanship and incorrect packaging, officers determined the footwear were not authentic items.
“CBP will continue to take every opportunity to intercept illegitimate goods and disrupt transnational criminal enterprises seeking to fund criminal activities with counterfeit or pirated merchandise,” said Timothy Lemaux, CBP’s director for the Dallas/Fort Worth port of entry.
Only 8,500 models of the Dior x Air Jordan 1s were produced for the worldwide public. The shoes, which retailed for up to $2,200, are already sold out.
On some resell websites, such as StockX and eBay, the sneakers have asking prices as high as $54,321.
Italian company opens auto parts factory in Torreón, Mexico
Italian company Alfagomma recently announced a new $15 million export plant that will supply major clients such as agricultural equipment maker John Deere, officials said.
The new facility, which will be located in the city of Torreón, will employ 250 people. Torreón is located in northern Mexico, around 340 miles from Laredo, Texas.
The $15 million plant is expected to begin production in late 2021, officials said.
Alfagomma is an international auto parts supplier based near Milan, Italy. The company employs 3,000 employees.
Alfagomma also has plants located in Brazil, China, Germany, Finland, Great Britain, Italy, Malaysia and the U.S.
Mexico’s Grupo Gondi chooses Transplace TMS
The Transplace transportation management system (TMS) will support the packaging manufacturer with cross-border and intra-Mexico capacity solutions to increase supply chain efficiencies and cost savings, said Javier Gomez Contreras, logistics director at Grupo Gondi.
“The state-of-the-art Transplace technology meets all of our needs, while allowing easy integration with SAP and AMCS systems,” Contreras said. “We have locations across Mexico and working with Transplace experts allows us to access packaging industry best practices, along with a deep knowledge of the logistics intricacies of our regions.”
Mexico City-based Grupo Gondi Grupo, which manufactures 100% recycled fiber boxes, has 7,000 employees. The company has 14 locations across Mexico.
“Grupo Gondi selected a true supply chain partner – not a vendor simply for technology innovations, but a company able to walk hand-in-hand with their teams as they modernize their transportation network,” said Frank McGuigan, chief executive officer of Frisco, Texas-based Transplace.
More articles by Noi Mahoney