California is partnering with the online on-demand warehouse marketplace Chunker to create six new pop-up logistics hubs on state land to help ease the container congestion at backed up ports in the Golden State.
Chunker, which bills itself as "the Airbnb of short-term, on-demand warehouse space" in the US, will lease a total of 150 acres at three armories, two fairgrounds and a former prison site in California that will be converted into logistics facilities that, combined, can handle 20,000 containers.
According to state officials, Chunker's one-year contract to equip and manage the new pop-up container yards requires the company to pay California 5 percent of its profits from the new logistics hubs. The deal includes a second-year option.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.