3/27/2023 0 Comments Venture logistics![]() ![]() These products have proven to be an attractive alternative for shippers distributing product to and from the Midwest, including those facing higher costs and increasing congestion in the Chicago area. The INRD and Venture offer seamless transportation products that combine rail, warehousing and trucking service for shippers of a broad range of commodities. The Venture Rail Warehouse, which features 58 truck docks and 15 indoor rail car spots, is the most modern rail-served facility in the key logistics hub of central Indiana. The INRD worked in partnership with Venture Logistics to build a 406,000 square-foot, state-of-the-art, rail-served distribution center in Indianapolis. The annual award recognizes railroads that demonstrate one or more of the following: utilization of the railroad’s unique operating characteristics to deliver value partnership with other companies or development authorities and delivering economic success to both the railroad and the community it serves. For further information, please visit and follow source version on businesswire.The American Short Line and Regional Railroad Association (ASLRRA) selected the Indiana Rail Road Company (INRD) as the winner of its 2020 Business Development Award, recognizing the INRD for its collaboration with trucking leader Venture Logistics to drive growth in Central Indiana. ![]() Its portfolio currently comprises 52 buildings across 23 million square feet in key logistics markets across North America with an estimated end value of more than $3 billion. LPC is headquartered in Chicago with more than 70 employees strategically located across eight offices. The group is led by a diverse management team that averages more than 25 years of experience and has developed more than 55.3 million square feet of logistics buildings since 1995. Logistics Property Company, LLC (LPC) is an industrial real estate company focused on the acquisition, development, and management of modern logistics properties. MAM Real Estate is part of Macquarie Asset Management, one of the world’s leading alternative asset managers. MAM Real Estate, part of Macquarie Group and LPC’s majority shareholder, acted as the fund’s exclusive financial advisor and placement agent and partnered with the LPC management team in forming the platform. Venture II also closed on the land for a new 341,000 square foot warehouse development in San Bernardino, CA, with construction slated to start second quarter of 2023. Diehl Road, and 4275 Ferry Road, all in Illinois.Ī Venture II project scheduled to break ground before the end of 2022 calendar year includes Palm Gateway Logistics Center, which includes four buildings totaling 613,000 square feet, located in Mesa, Arizona. The respective developments include Covington Commerce Center in Georgia, First State Logistics Center in Delaware, 975 Algonquin, 2800 W. ![]() In 2022, LPC announced the commencement on five new developments for Venture II totaling 2.3 million square feet. markets, develop Class A industrial buildings to modern specifications, including key ESG considerations, stabilize the assets, and hold to assemble a geographically diverse portfolio. Similar to Venture I, Venture II’s execution strategy is to buy well-located property in U.S. LPC appreciated the number of investors from Venture I who committed to Venture II and is proud to add several new major institutions to participate in Venture II. The successful capital raised for Venture II "speaks to the opportunistic industrial real estate market and the strong develop-to-core strategy offering investors the ability to own Class A industrial facilities in tier one locations at an attractive basis," LPC’s CEO Jim Martell stated. ![]() LPC has fully allocated Venture I’s equity to projects representing more than 20 million square feet across the United States. LPC launched its inaugural develop-to-core venture in August 2019, raising $1 billion of equity commitments from global institutional investors ("Venture I") and LPC. To date, 35 percent of the fund has been allocated to investments in Atlanta, Chicago, Dallas, Denver, Inland Empire, Pennsylvania, Phoenix, and Southern New Jersey, with significant capital to deploy for new development projects that deliver value to investors. ![]()
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