CUSHMAN & WAKEFIELD WINS ASSIGNMENT TO MANAGE 11 INDUSTRIAL PROPERTIES IN SOUTHERN CALIFORNIA
Class A Properties Total 2.6 Million Sq. Ft. – Primarily Single-Tenant Buildings
LOS ANGELES, CA – June 8, 2012 – (RealEstateRama) — AEW Capital Management, a leading manager of real estate assets and securities for institutional and private investors, has awarded Cushman & Wakefield of California, Inc. the property management assignment for 11 industrial properties in Southern California. The properties, which total 2.6 million square feet, are owned by several of AEW’s commingled investment funds. Dee Eckman and Mary Marx of Cushman & Wakefield’s Corporate Occupier and Investor Services (CIS) group will handle the assignment.
“These are high-end, class A buildings,” said Dee Eckman, CIS director and account manager. “They are primarily single-tenant buildings, although some have two to four tenants. All the assets are stabilized with only two vacancies in the entire portfolio.”
“We are pleased to be able to continue and expand our ongoing relationship with AEW,” said Marx, CIS senior managing director.
The buildings are located in multiple Southern California submarkets including the Los Angeles International Airport submarket, Fullerton, Santa Fe Springs, Eastvale in the Inland Empire region, Chatsworth in the Los Angeles North submarket, Chino and Paramount.
“Fundamentals in the Southern California industrial market continue to strengthen,” said Dave Hess, agency broker for the portfolio and senior director of Cushman & Wakefield. “With vacancies falling and rents improving, users are having difficulty finding space in some size ranges.
“And at the same time, both investors and developers are struggling to find opportunities in the Southern California industrial markets,” Hess said.
Cushman & Wakefield, Inc.’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2011, in the US alone, this group completed more than 6,100 industrial real estate transactions – totaling 225 million square feet – with an aggregate value in excess of $6.5 billion.
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About Cushman & Wakefield National Industrial
About AEW
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage $33.7 billion of capital invested in over $47 billion of property and securities in North America, Europe and Asia (as of March 31, 2012). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore, and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com.
Media Contact:
Evelyn Weiss Francisco: evelyn (at) caryl (dot) com, (201) 796-7788, www.twitter.com/carylcomm
