CHICAGO—IDI Gazeley Brookfield Logistics Properties, a global investor and developer of logistics warehouses and distribution parks, has just tapped JLL to manage 47 million square feet of its industrial real estate. The properties are spread out across the US, including Atlanta, Southern Florida, Cincinnati, Memphis, Chicago, New Jersey, central Pennsylvania, Southern California and several Texas markets. JLL officials say the commission is their firm's largest industrial property management assignment in the US.
“High-touch customer service, consistency and value creation are all values that IDI Gazeley and JLL share, creating an ideal collaboration and setting the stage for efficient management of a significant number of industrial assets,” says Dan Pufunt, president, property management at JLL. “We have the right industrial experts on the ground in each of these markets to execute our client's strategy and to help increase the value of the portfolio.”
The portfolio consists of 165 properties with the average property totaling 285,000 square feet.
"This transaction positions IDI Gazeley for greater scalability and growth, while benefiting from the expertise and talent offered by JLL," says Jay Cornforth, managing partner, global head of industrial at Brookfield Property Group and chief executive officer of IDI Gazeley North America. "In short, we have re-aligned our organization to better focus on our customer relationships and service by leveraging JLL's class-leading property management platform"
“Industrial properties are increasingly being targeted by the investment community, including institutional and international buyers, and this has fueled demand for comprehensive knowledge and full-service capabilities for industrial product,” adds Brenda Crisp, senior vice president and national lead for industrial property management at JLL.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
