IAMC News Briefs - Week of May 16, 2022
By John Salustri
GLOBEST.COM—Ascendas Real Estate Investment Trust, Singapore’s heftiest REIT, has ponied up $99 million for seven Chicagoland industrial facilities. It is the second US venture for the logistics-focused trust. The first, last fall, was its $156-million acquisition of a 2.1-million-square-foot Kansas City portfolio. This latest buy paces out to 1.4 million square feet and reflects its strategy to snatch up “well-located, highly occupied last-mile assets.”
https://www.globest.com/2022/05/16/ascendas-reit-expanding-its-us-logistics-holdings/
CUSHMAN & WAKEFIELD—Commercial sales of Unmanned Aircraft Systems—drones’ proper name, according to the FAA—took a temporary sales descent in the early days of COVID-19. But according to Cushman& Wakefield, the industry is set to hit new heights, hitting $60 billion by 2026. Curiously, it reports that one laggard industry has been delivery and logistics. But this sector too is set for explosive growth, with an expected compound annual growth rate of 60 percent from 2021 to 2028. Behind-the-scenes needs will also fuel future growth, with such applications as stock counting in large, uniform warehouses as well as in cycle counting, where operators can use a smaller set of inventoried items to project total stock numbers. Such uses will be driven in large part by operators’ trend toward increased clear heights.
https://www.cushmanwakefield.com/en/insights/the-edge/where-are-all-the-drones
URBAN LAND INSTITUTE—"The industry needs to approach human capital in a different way. The traditional way of people coming into a firm and staying for their entire career has evolved.” So says executive search guru Gemma Burgess. While the trend among younger job candidates is not to stay for 10 or 15 years, business leaders need to look to other industries that have “evolved their hiring practices.” Bolstering training techniques and giving existing staff the opportunity to grow and try new responsibilities are among her prime suggestions. Without such opportunities, “they could get bored or frustrated and leave.”
https://urbanland.uli.org/economy-markets-trends/ul-interview-executive-search-firm-ceo-on-the-shifting-mindset-of-employees/?utm_source=realmagnet&utm_medium=email&utm_campaign=HQ%20Urban%20Land%2005%2E16%2E22
COMMERCIAL PROPERTY EXECUTIVE-In what will be a first for Chicago, Logistics Property Co is poised to break ground on a multi-story, 600,000-square-foot last-mile facility. The firm has closed on the land acquisition for the $250-million project, located in the Goose Island industrial “neighborhood,” some 15 miles from Chicago O’Hare International Airport. No ETA on delivery was provided.
https://www.commercialsearch.com/news/chicago-cleared-for-1st-multi-story-industrial-facility/