Cresa Announces New Industrial Leadership Council Amid Double-Digit Practice Growth
WASHINGTON, D.C. – March 10, 2020 – Today, Cresa, the world’s largest occupier-centric commercial real estate firm, announced that Steven Rector and Ted Liles have been appointed Co-Chairs of the company’s new Industrial Leadership Council. The move comes as Cresa continues to experience significant growth in the industrial sector, largely driven by changes in the e-commerce supply chain.
Cresa’s industrial client portfolio has more than doubled the number of producers it serves to over 120 producers in the past four years, and expanded its footprint to 38 global locations.
“As the industrial sector expands from evolving and growing demand, one of the greatest challenges our clients face with high-growth models is space shortages and soaring rents. Some markets have risen as much as 20 percent year over year and are changing quarterly. By integrating fully with our clients’ businesses, we help them reduce redundancies in their supply chains and navigate volatility by creating optimum flexibility,” said Steven Rector, Principal of Industrial Services in Toronto.
Demand for industrial properties remains strong, driven by e-commerce related demand for logistics centers. According to the latest figures from the U.S. Department of Commerce, total e-commerce sales for 2019 rose to $601.7B, an increase of 14.9 percent from 2018.
Prompted by this transforming industrial landscape, Cresa has seen a record number of new developments under construction in the fourth quarter, indicating industrial occupiers will need to become more creative when acquiring and designing industrial spaces, including looking at pre-existing buildings with accommodative zoning and design-build opportunities.
“As the way we live and consumer habits evolve with the expansion of e-commerce, helping our clients rationalize inventory and expedite their fulfillment delivery systems will be critical for retail and manufacturing companies to gain a competitive edge given the current pace of this sector,” said Ted Liles, Principal of Industrial Services in Phoenix.
“The industrial sector is a priority growth market for Cresa,” said Cresa CEO Jim Underhill. “Under the leadership of Liles and Rector, this move further positions Cresa to deliver customized real estate solutions on an international scale.”
The practice’s services include facilities management, distribution network analytics, inventory rationalization, lease administration, location strategy, economic incentives negotiation, labor analytics, project management and workplace strategy.
The Industrial Leadership Council will be supported by Jim Bob Taylor, Managing Principal of Industrial Services in Atlanta; Sean Heaton, Principal of Industrial Services in Portland; Justin Walseth, Principal of Industrial Services in San Diego; Will Condrey, Principal of Industrial Services in Houston; Ed Lowenbaum, Managing Principal of Industrial Services in Chicago; Jeff Hartsook, Principal of Industrial Services in Miami; Scott Dumler, Managing Principal of Industrial Services in Charlotte; and Margo Mocarski, Senior Vice President of Industrial Services in Philadelphia.
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About Cresa
Cresa is the world's only global commercial real estate advisory firm that exclusively represents occupiers and specializes in the delivery of fully integrated real estate solutions. Our purpose is to think beyond space, strengthening those we serve and enhancing the quality of life for our clients. Delivered across every industry, its services include Consulting, Facilities Management, Global Portfolio Solutions, Investment Banking, Lease Administration, Location Strategy & Economic Development Incentives, Project Management, Transaction Management and Workplace Intelligence. With over 1,000 employees in more than 80 offices globally, Cresa partners with occupiers everywhere. For more information, please visit cresa.com.