Could Steve Ross be an Amazon killer?

Related makes another retail push in deal to buy delivery fulfillment firm

New York /
Mar.March 14, 2019 09:30 AM

Quiet Logistics CEO Bruce Welty and Related Companies chairman Stephen Ross (Credit: Getty Images and iStock)

With his new acquisition, Related Companies’ Stephen Ross is ready to compete directly with Amazon.

The developer is teaming up with logistics investment specialists Greenfield Partners to buy Quiet Logistics, a fulfillment firm, Real Estate Weekly reported. The deal amount wasn’t disclosed.

Related is using its Fund Management platform and will be guided by its previous forays into retail, the report said. It invested in the Equinox gym chain in 2005 and now also SoulCycle. Both brands have been integrated into its developments, including the massive Hudson Yards project.

The new owners said they will expand Quiet Logistics’ network of fulfillment centers to the West Coast and Midwest — with plans to go global in the next few years. The Shops at Hudson Yards include big name anchors like Neiman Marcus, Cartier and Sephora, but will also include a collection of stores from digitally native brands like Mack Weldon and M.Gemi.

“Related has developed some of the most successful retail developments in the United States and we are acutely aware of the challenges and opportunities presented by omni-channel e-commerce,” said Michael Winston, managing director of Related Fund Management. “Related has also previously invested in customer-focused operating businesses — including both Equinox and SoulCycle — whose continued growth was predicated upon a significant expansion of and investment in their real estate portfolios.”

Quiet Logistics specializes in working with direct-to-consumer companies including Tuft & Needle, Away, Love Your Melon, M. Gemi and Mack Weldon. [REW] — Meenal Vamburkar


Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)
Related is the latest developer to target the Rockaways
Related is the latest developer to target the Rockaways
Protestors in support of street vendors gather in Hudson Yards on May 7, 2021 (Getty)
“More churros, less cops”: Vendors and Related face off
“More churros, less cops”: Vendors and Related face off
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
Hamptons businesses desperate for workers
(iStock)
Job recovery sputters, but hospitality & leisure add hiring
Job recovery sputters, but hospitality & leisure add hiring
Cushman & Wakefield CEO Brett White (Cushman)
Cushman eyeing M&A opportunities post-pandemic
Cushman eyeing M&A opportunities post-pandemic
Andrew Yang (Getty, iStock)
Yang targets vacant lots with $900 million tax plan
Yang targets vacant lots with $900 million tax plan
Ron Burkle and Andrew Zobler with The NoMad New York. (Google Maps, Getty)
NoMad Hotel heads back to the auction block
NoMad Hotel heads back to the auction block
Donald Trump and 40 Wall Street (iStock, Sterlfilms/Wikimedia)
40 Wall’s valuation chop means tax savings for Trump Org
40 Wall’s valuation chop means tax savings for Trump Org
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...