by Brianna Crandall — March 30, 2015—IDI Gazeley Brookfield Logistics Properties, a global investor and developer of logistics warehouses and distribution parks, has tapped global commercial real estate services firm JLL (Jones Lang LaSalle) to manage industrial real estate located in Atlanta, Southern Florida, Cincinnati, Memphis, Chicago, New Jersey, central Pennsylvania, Southern California and several Texas markets.
The assignment totals 47 million square feet across 165 properties, with the average property totaling 285,000 square feet. The commission represents JLL’s largest industrial property management assignment in the United States.
The portfolio is leased to a variety of customers including well-known companies in retail, manufacturing, e-commerce, third-party logistics and transportation.
“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,” said Dan Pufunt, president of 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.”
“This transaction positions IDI Gazeley for greater scalability and growth, while benefiting from the expertise and talent offered by JLL,” said Jay Cornforth, managing partner and global head of Industrial at Brookfield Property Group and CEO 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,” added Brenda Crisp, senior vice president and national lead for industrial property management at JLL.
