CBRE Reports on Pandemic Disruption on Supply Chain
Travel restrictions due to the COVID-19 pandemic have severely impacted the supply chain for the foreseeable future. With some estimates showing that the coronavirus will be part of life for years to come, businesses are quickly adapting business strategy to move closer to consumers. According to research from CBRE, the disruption in the supply chain will create demand for 400 million to 500 million square feet of industrial space.
“It’s important to think through the human element that is involved in handling supply chains throughout the entire process,” Kurt Strasmann, executive managing director of CBRE’s Orange County and Inland Empire operations, tells GlobeSt.com. “Now think about social distancing and the handling of materials with new safety protocols. Less people means operations will be less efficient initially. I am certain, over time the process will normalize but many dramatic changes throughout the entire process have led to major disruptions across the entire supply chain process, from raw supplies to manufacturing to transportation to warehousing to delivery of the end product to the end consumer.”
Walker & Dunlop expanded its Los Angeles property sales team with the addition of Blake Rogers and Alexandra Caniglia. Rogers joins as Managing Director and Caniglia as Director. The pair will join and collaborate with the greater SoCal asset sales team, which includes Hunter Combs in San Diego and Javier Rivera in Los Angeles
Stream Realty Partners handled the 35,453-square-foot renewal of Armata Pharmaceuticals in the Marina Business Center in Marina del Rey. The clinical-stage biotechnology company, formerly C3 Jian, develops precision-targeted bacteriophage therapeutics for the treatment of drug-resistant bacterial infections. Stream Realty’s Tim Dwight and Caleb Hodge negotiated the deal in what they note is the largest biotech office lease in West LA’s commercial real estate market thus far in 2020.
NKF Adds Richard Sung as Managing Director
NKF has added Richard Sung as Managing Director. The office leasing specialist joins from WindWater Real Estate and will be based in Irvine, where he’ll partner with Jay Nugent and George Thomson to further enhance the firm’s agency leasing platform in Orange County.
CRE Vets Paulsen, Rader Create Topside Real Estate
Veteran commercial real estate leaders Eric Paulsen and Rob Rader have joined forces to launch Topside Real Estate. Paulsen shared, “Topside Real Estate will be a client and employee focused service provider reinvesting the majority of its revenue back into its people and resources. We want to help our clients maximize the value and efficiency of their real estate holdings, and we want our associates to maximize their earnings and growth potential.”
CapRock Partners Industrial Value-Add Fund III Announces First and Second Closings
CapRock Partners, one of the fastest-growing private industrial investment and development firms focused solely on the Western U.S., announced a first and subsequent second closing of CapRock Partners Industrial Value-Add Fund III, totaling more than $180 million of committed capital in the fund and co-investment vehicles. The firm’s fifth fund overall and the third in its industrial value-add series, CapRock Partners’ Industrial Value-Add Fund III includes commitments from institutional investors, pension funds and family offices.