“By and large our tenants are growing, our rents are growing and our occupancies are high,” he said. “We’re not just buying to buy or developing to develop or selling to sell. We’re national investors, and we’ve performed very well as measured by occupancies, which are hovering from 95% to 97%.”
“Even during the downturn of COVID, our occupancy levels remained very strong,” he added.
Now Clewlow, with a $1.1 billion account at hand, is looking at further growth on both coasts while shoring up CenterPoint’s tenant base. Since the beginning of the year, the company has made two major property purchases: the second half of a four-building acquisition in Countyline Corporate Park in Hialeah, Florida, and a more than 601,000-square-foot building on 31 acres in Pasadena, Texas.
“E-commerce is a great tailwind for the industry right now and probably will continue to be,” Clewlow said. “Our belief is that it moderates a little bit and ebbs and flows with tech” as shopping behaviors shake out in a post-pandemic world.
“Retail doesn’t go away,” he said. “But there’s a question of what that balance is.”
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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, follow us on LinkedIn. For all media inquiries, including requests for interviews with CenterPoint executives, please contact email@example.com or 630.586.8285.