JOC Features SVP of Development William Lu in ‘Beyond TPM’ Podcast
Posted By Staff Writers On March 26, 2021 @ 12:39 pm
Journal of Commerce Senior Editor Alessandra Barrett interviewed CenterPoint Senior Vice President of Development William Lu for the JOC’s limited podcast series, “Beyond TPM.”
Will discussed a number of topics such as the role industrial real estate developers play in tenants’ supply chains, the critical importance of a great last-mile facility for e-commerce and emerging industry trends.
Here’s what Will said about how tenants’ industrial needs have evolved over the past year and what makes CenterPoint’s National Development philosophy unique:
“I always saw the role of the real estate developer more as a service provider in some manner instead of strictly just as a landlord because you’re an integral part of your tenants’ supply chain. You’re a piece of the puzzle. You’re not necessarily a stand-alone piece because your real estate only works if it makes sense from a logistics perspective and from a functional perspective. So from the real estate providers’ perspective, you really need to understand what your tenant’s needs and wants are, understand where you fit into the chain. And the more understanding you have, the better you can predict where you should be developing your real estate and what kind of real estate you should be developing.
“With the disruption that’s been ongoing, supply chains have been significantly different. A lot of our potential tenants are using alternate ports. They’re trying to find locations for safety stock. They’re trying to find locations for trailer parking. They’re trying to address issues of port congestion. Those all tie directly into real estate needs.
“If the port is congested, then they need real estate by the port. If they can’t get containers off, then they need trailer yards near the port. If they can’t provide last-mile service in this area, then they need to find solutions in that area. It’s really understanding their needs.”
About CenterPoint Properties:
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators, and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital, and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @centerpointprop on Twitter or engage with us on LinkedIn.