{"id":1004719263,"date":"2024-06-28T02:37:46","date_gmt":"2024-06-28T10:37:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004719263"},"modified":"2024-06-28T05:18:54","modified_gmt":"2024-06-28T13:18:54","slug":"manulife-foundry-launch-industrial-outdoor-storage-jv","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/manulife-foundry-launch-industrial-outdoor-storage-jv\/","title":{"rendered":"Manulife, Foundry Launch Industrial Outdoor Storage JV"},"content":{"rendered":"
\n
\"Manulife<\/a>
An industrial property in Dallas-Fort Worth, part of Manulife Investment Management’s portfolio. Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n

Manulife Investment Management has launched a joint venture with Foundry Commercial to purchase, develop and lease industrial outdoor storage<\/a> in across infill industrial markets in the Southeast.<\/p>\n\n\n\n

The joint venture plans to operate a portfolio consisting of 10 sites, located in Nashville, Tenn., Atlanta, Jacksonville, Fla., and Dallas Fort-Worth. Manulife has already acquired three of the sites that have completed construction, while the remaining will be developed together with Foundry.<\/p>\n\n\n\n

Manulife has $19.2 billion worth of assets under management and more than 84.6 million square feet of commercial real estate on a global scale, while Foundry currently has $2.7 billion in assets under management.<\/p>\n\n\n\n

The decision to invest in this niche got a boost from the reduction in capital costs compared to industrial properties in general, which also brings opportunities unavailable to the general marketplace, said Foundry Commercial Principal Rick Coe in a prepared statement.<\/p>\n\n\n\n

A sought-after industrial niche<\/h2>\n\n\n\n

Despite being a small, rather untapped industrial niche, IOS is attracting a significant number of investors looking to branch out and diversify.<\/p>\n\n\n\n

In early January, Alterra IOS partnered with ConGlobal Industries <\/a>to acquire four IOS properties totaling nearly 90 acres. The assets are located in areas with dense IOS clusters, near port and rail infrastructure.<\/p>\n\n\n\n

More recently, Triten Real Estate and TPG Angelo Gordon announced plans to acquire more than $1 billion in additional industrial outdoor storage assets <\/a>over the next five years. The joint venture initially launched their investment platform in 2020 and have since purchased more than $500 million of IOS assets across 16 markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The portfolio includes 10 sites across the Southeast.<\/p>\n","protected":false},"author":2829,"featured_media":1004719265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,1586,21748,21783,1591,36077,32781],"tags":[32961,52033],"class_list":["post-1004719263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-atlanta","category-dallas","category-industrial","category-investment","category-jacksonville","category-nashville-knoxville","category-southeast","tag-foundry-commercial","tag-manulife-investment-management"],"acf":[],"yoast_head":"\nManulife, Foundry Launch Industrial Outdoor Storage JV - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Manulife Investment Management and Foundry Commercial plan to invest in industrial outdoor storage across several Southeast markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/manulife-foundry-launch-industrial-outdoor-storage-jv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manulife, Foundry Launch Industrial Outdoor Storage JV\" \/>\n<meta property=\"og:description\" content=\"Manulife Investment Management and Foundry Commercial plan to invest in industrial outdoor storage across several Southeast markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/manulife-foundry-launch-industrial-outdoor-storage-jv\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T10:37:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-28T13:18:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/06\/Manulife-investment-Management-property-in-Dallas-Fort-Worth.-Image-courtesy-of-CommercialEdge-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/manulife-foundry-launch-industrial-outdoor-storage-jv\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/manulife-foundry-launch-industrial-outdoor-storage-jv\/\",\"name\":\"Manulife, Foundry Launch Industrial Outdoor Storage JV - 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