Industrial: Does Size Still Matter?
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|Will 1M SF distribution centers continue to be the norm in the future? Chicagoans addressed that topic on a panel at last week's ULI Fall Meeting in DC. Pizzuti's Mike Chivini says yes, but KTR Capital's John DiCola and Peter Gallagher disagree. Liberty Property Trust's Don Schoenheider moderated. Mike has especially seen growth and development near intermodals and at one point had plans for four 1.1M SF buildings in one such industrial park. KTR has grown its portfolio in the past month, with the purchase of a 205k SF bank-owned property in Chicago's O'Hare submarket and the purchase of a 300k SF building in Atlanta with 75% occupancy. Alter Group's Peter Gallagher said the several 1M SF-plus buildings that went up in Chicago's I-80 corridor are not leasing well and predicted the next spec development would be in the Inland Empire in 2012.|
Don didn't make this picture, but only because we didn't want to spoil the joy that you'll experience seeing him in person at our Nov. 9 Industrial Real Estate Summit. Sign up now!