LPC Chief Executive Officer James Martell, formerly the president and founder of Ridge Development
CHICAGO—A new logistics real estate platform headquartered here focused on the acquisition, development and management of modern logistics properties in key North American markets has been launched.
The new platform— Logistics Property Company, LLC— has partnered with Macquarie Capital Real Estate Investments on the formation of the platform. LPC seeks to grow its business to more than $5 billion of properties under management over the next five years to become a leading developer and operator of logistics facilities and occupancy solutions in North America.
Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston and Los Angeles with office openings slated for Philadelphia, Miami and Seattle.
“We are thrilled to embark on this new journey to grow LPC into a leading North American platform,” said LPC Chief Executive Officer James Martell, formerly the president and founder of Ridge Development. “It is an exciting time for the US industrial sector. The growth in e-commerce, increasing globalization of trade and supply chain reconfiguration are driving record tenant demand and rental growth. Together with our partners, we hope to provide state-of-the-art logistics facilities and best-in-class occupancy solutions for our tenants.”
LPC has begun managing properties in key logistics markets, including Dallas, Houston and Chicago, with an estimated end-value of more than $600 million to date. In addition, LPC anticipates closing on properties in Los Angeles, Seattle, Indianapolis and Pennsylvania this year, as part of a development pipeline of approximately 18 million square feet.
The company is targeting leading industrial markets across the US with strong demographics and significant in-place infrastructure, as well as select tier two markets with strategic growth value.
In addition to Martell, LPC is led by an experienced management team including several former senior executives of Ridge. Together, the LPC management team averages over 25 years of experience and has developed more than 17 million square feet since 2014 with its institutional partners: Aaron Martell, Midwest Region EVP, formerly with Ridge; Dennis Rice, West Region EVP, formerly with Ridge; Kent Newsom, South Region EVP, formerly with Ridge; Bob Wheless, South Region SVP, formerly with Opus West; Mark Skinner, chief financial officer, formerly with Lendlease; Mike Ruen, East Region EVP, formerly with DCT; Jay Mitchell, SVP, Atlanta Market Leader, formerly with DCT; Mark Sabatino, SVP, Asset Management formerly with Deutsche Asset Management/RREEF; and Jude Fitzgerald, chief marketing officer, formerly with Macquarie Real Estate.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
