FAIRFIELD, NJ –Woodmont Industrial Partners, an affiliate of Woodmont Properties, has named David Iacobucci managing director in the firm's Fairfield, NJ office. Iacobucci oversees day-to-day operations and seeks new investments to grow WIP's portfolio of seaport and inland port-oriented warehouse distribution facilities.
“David is a well-respected industry leader, and his expertise, depth of relationships and strategic approach will be a significant addition to our expanding platform, as we continue to seek new opportunities that provide capital appreciation with exceptional risk-adjusted yields,” says Eric Witmondt, CEO of WIP. “His guidance will be an asset in identifying, securing and developing investment-grade industrial properties in markets that present the greatest value.”
WIP targets strategically located industrial properties that offer excellent access to ports, in close proximity to major logistic hubs. The firm's market focus is on select, high-barrier-to-entry and globally oriented seaport and inland port markets in the Northeastern United States.
“Woodmont Industrial Partners is well-positioned for continued growth, and I look forward to the exciting new projects that are already in the pipeline, capitalizing on current opportunities as real estate fundamentals strengthen in the industrial sector, and building upon the world-class platform that is already in place,” says Iacobucci.
Before joining WIP, Iacobucci was Division Manager of Baker Properties, the income property division of regional real estate owner/developer The Baker Companies, where he ran the company's portfolio of industrial properties located primarily in New Jersey and Eastern Pennsylvania. During his tenure at Baker, Iacobucci sourced and closed acquisitions and dispositions for the firm in excess of $300 million. He also oversaw leasing and management, and obtained entitlements, development approvals for industrial projects in excess of 1.7 million square feet.
Before working at Baker, Iacobucci was Director of Asset Management for a regional real estate investor/developer in New Jersey where he was responsible for overseeing the renovation, re-leasing, financing and disposition of opportunistic suburban office investments in a joint venture partnership with Credit Suisse/First Boston, valued at over $55 million. Iacobucci also managed the ground-up development of a build-to-suit class A office building for a national insurance company, and a speculative industrial/flex building from land acquisition through entitlements, design, construction and lease-up.
Previously, Iacobucci managed a $130-million portfolio of distressed property and loans for Archon Group, a Goldman Sachs affiliate. Iacobucci's background includes four years of commercial loan workout experience with a Boston-based commercial bank, five years of real estate investment banking experience and nearly 15 years of progressive responsibility identifying and creating value in commercial real estate at private equity firms through acquisitions, dispositions, development, construction, leasing, management and finance.
Iacobucci is a licensed real estate salesperson in New Jersey and a member of the New Jersey chapter of NAIOP.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
