Fundrise, a real estate investment platform that sells shares for as low as $10, announced this week it will spend $130 million to acquire properties for a national expansion of Saltbox, the co-warehousing startup.
Saltbox, which provides logistics space primarily to e-commerce entrepreneurs in small, flexible warehouse suites, grew from a single flagship operation in Atlanta to six US locations in 2021, including in Los Angeles, Denver, Dallas and Seattle.
With the investment from Fundrise, Saltbox is planning to add 1 million SF of co-warehousing space across 15 US locations, including a new facility under development in Alexandria, VA. The expansion will involve building new warehouses, as well as acquiring properties for conversions.
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