Logistics property developer Gazeley is being rebranded IDI Gazeley as part of a plan by owner Brookfield to consolidate its $3.5 billion off logistics assets around the world.
Brookfield acquired Gazeley in June last year. IDI (Industrial Developments International) is the result of two acquisitions by Brookfield in 2012 and 2013. It owns and operates logistics property across North America.
All Gazeley and IDI sites around the world will be rebranded IDI Gazeley as part of the initiative.
IDI Gazeley will own and operate an industrial property portfolio across nine countries including the USA, Canada, UK, France, Germany, Italy, Spain, Mexico and China.
This includes some 58m sq ft of assets currently under management and occupied industrial warehouse space with prime land sites to develop an additional 68m sq ft of distribution facilities. Of this, 17m sq ft of development is currently scheduled for 2014.
Jay Cornforth, global head of industrial for the Brookfield Property Group said: “This is a natural evolution of our emerging logistics business and will create synergies between these two best-in-class organisation. This move will be particularly helpful to our customers around the world who will benefit from a greater choice of assets and locations globally, accessible through a single point of contact. Our collective platforms allow us to provide an improved service offering to our existing client base, which includes many of the world’s leading brands and most successful companies, as well as potential new clients who are looking for a truly global proposition tailored to their specific needs.”
To date, IDI Gazeley has developed in excess of 228m sq ft of sustainable warehouse space for over 900 customers worldwide. Recent developments include:
* A 938,000-sq-ft national distribution centre leased to Waitrose at Gazeley’s flagship UK development site Magna Park Milton Keynes.
* Construction of a 671,000-sq-ft e-commerce build-to-suit facility at Southpoint Business Park in Indianapolis, Indiana, USA.
* Completion of a 690,000-sq-ft (regional distribution centre for global sports retailer at Magna Park Baodi, North China.
* Signing of a 631,000-sq-ftlease to an e-commerce company at Park South in the Cincinnati, Ohio market, USA.
* Commencement of a 600,000-sq-ft national distribution centre for a global toy retailer in Paris, France.
* Signing of a 413,000-sq-ft lease to a technology-focused e-retailer at WorldConnect @ Ameriplex in Indianapolis, Indiana, USA.
* Signing of a 467,000-sq-ft deal in Atlanta, Georgia market, USA with a developer, manufacturer and distributer of medical equipment.
Ric Clark, chief executive officer of the Brookfield Property Group, said: “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, and increasing emerging market consumption trends, we expect to see significant opportunities for growth in the high-quality logistics sector.”
In the UK, Brookfield also owns PD Ports, which has just agreed a plan with Gazeley to develop up to 1.6 million sq ft of build-to-suit port centric logistics warehousing at Teesport.