Collaboration will pioneer rent-as-a-percentage-of-revenue business model for logistics real estate
News release
19 December 2022
JLL and Quiet Platforms announce partnership to scale fulfillment centers across the U.S.
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CHICAGO, Dec. 19, 2022 – JLL and Quiet Platforms, a wholly owned subsidiary of American Eagle Outfitters Inc. (NYSE: AEO), announced its partnership to accelerate the opening of new forward-edge fulfillment centers across the U.S. in 2023 to serve retailers and brands in the Quiet Platforms supply chain network. Under the agreement, the two companies will pioneer a flexible rent-as-a-percentage-of-revenue model for logistics real estate.
“We’re focused on rapidly expanding our nationwide network of fulfillment centers to help all of the retailers and brands in the Quiet Platforms network deliver excellent experiences to their end customers,” said Shekar Natarajan, President of Quiet Platforms. “We’re pleased to partner with the real estate experts at JLL to accelerate the growth of our facilities network through a unique, variable-expense model that offers more flexibility at the real estate level.”
“We’re excited to partner with Quiet Platforms and seek opportunities that deliver a flexible transaction structure,” said Kris Bjorson, International Director, Industrial Brokerage, Americas, for JLL. “To support the company’s goal for a responsive, dynamic network, we’re uncovering creative solutions across corporate subleases, retail to industrial conversions, and even speculative industrial developments.”
Quiet Platforms’ expansion of its edge fulfillment network with JLL will form a key part of Quiet Platforms’ nationwide network of facilities offering end-to-end, fully managed supply chain services for e-commerce and omnichannel retail brands. Using Quiet Platforms’ inventory science and technology platform, brands and retailers can optimize their customer click-to-deliver experiences for speed, service quality and cost efficiency.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Quiet Platforms
By creating interoperable open and sharing supply chain platforms powered by an intelligent and unified orchestration layer, Quiet Platforms helps companies collaborate to drive scale efficiencies and sustainability. The plug-and-play, open-sharing platform is enabling globally renowned retailers such as Peloton, Steve Madden, Li & Fung and more than 60 others to optimize their inventory and access digital capabilities such as track and trace to increase efficiency and improve margins. A wholly owned subsidiary of American Eagle Outfitters Inc. (NYSE: AEO), Quiet Platforms levels the playing field for small and midsized retailers by providing access to shared supply chain assets and relationships across every link of the chain—so they can ship less and operate more sustainably.