C&W to Manage Major Industrial SoCal Portfolio
- Jul 09, 2013
IndCor Properties, of Chicago, has awarded Cushman & Wakefield a contract to manage 9.1 million square feet of its industrial properties in Southern California, including San Diego, Irvine, and the Inland Empire, Cushman announced Monday.
The assignment adds to Cushman & Wakefield’s existing management contract with IndCor, which covers 3.5 million square feet of IndCor’s industrial properties in the Chicago region.
The Chicago-area portfolio comprises 20 buildings, while that in Southern California consists of 248 buildings, Victoria Knudson, managing director and National Industrial Property Management Lead for Cushman, told Commercial Property Executive.
The Chicago properties are multi-tenant distribution facilities, Knudson said, and those in SoCal are a combination of multi-tenant distribution and business parks.
In addition to property management, Cushman will be handling a portion of the leasing for both portfolios, she said.
Cushman & Wakefield’s industrial property management portfolio has grown by 18 million square feet in the past three months, to 121 million square feet. In all, the company manages more than 17,688 properties totaling more than 905 million square feet of commercial space worldwide.
IndCor was formed in 2010 as a portfolio company of The Blackstone Group.