Brookfield’s $3.5B Global Logistics Property Platform Rebranded as IDI Gazeley
- May 30, 2014
One of the world’s largest real estate owners, operators and investors Brookfield Property Partners has launched the IDI Gazeley brand for its $3.5 billion global logistics property platform.
Part of Brookfield Logistics Properties, the newly created brand combines the names of the two developers – Industrial Developments International (IDI) and Gazeley – that Brookfield acquired in 2012 and 2013.
As of May 28, 2014, IDI Gazeley owns and operates approximately 58 million square feet of assets and occupied industrial warehouse space, with prime land sites for the development of an additional 68 million square feet of distribution facilities. Of this, 17 million square feet will be delivered in 2014. The properties are located across nine countries including the USA, Canada, U.K., France, Germany, Italy, Spain, Mexico and China.
“Brookfield’s experience in managing and developing property assets globally, coupled with IDI Gazeley’s already enviable long-term track record, positions the new brand for long term growth. Additionally, with an improving global economic backdrop, evolving supply chains, growth of e-commerce, increasing emerging market consumption trends, we expect to see significant opportunities for growth in the high-quality logistics sector,” Ric Clark, CEO of the Brookfield Property Group, said in a news release.
A leading owner and operator of industrial distribution facilities across North America, IDI was purchased by Brookfield and its institutional partners in December 2012 and August 2013, while Gazeley, the world’s longest running, specialist developer of logistics warehouses and distribution parks, with assets in Western Europe and China, was acquired in June 2013.
Since becoming part of the Brookfield group, both companies have registered notable successes in their respective markets, including:
• A new 938,000-square-foot national distribution center currently under construction and leased to a major U.K. supermarket retailer at Gazeley’s flagship U.K. development site, Magna Park Milton Keynes.
• The development of a 670,680-square-foot e-commerce build-to-suit facility for ULTA Beauty at Southpoint Business Park in Indianapolis.
• The completion of a 690,000 square-foot regional distribution center for a leading global sports retailer at Magna Park Baodi in North China, which follows the completion of a similar project in Germany for the same customer.
• The lease of a 631,000 square-foot facility to a major e-commerce company at Park South in Cincinnati.
• The groundbreaking of a 600,000 square-foot national distribution center for a global toy retailer in Paris, France.
• The lease of a 412,808 square-foot facility to a technology-focused e-retailer at World Connect @Ameriplex in Indianapolis.
• The lease of a 467,000 square-foot facility in Atlanta to a leading developer, manufacturer and distributor of medical equipment for respiratory disorders.
To date, the two companies have developed more than 228 million square feet of sustainable warehouse space for more than 900 customers worldwide.