Benzinga | Dec 22, 2021 09:02AM EST

Box Equities Reports Purchase Of Rivian Electric Vehicle Distribution Center In Normal, Illinois, No Terms Disclosed

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.