Bisnow article previews a session at CRE.Converge Virtual 2020, October 7-8
July 31, 2020
While the economic impact of the coronavirus pandemic has been both devastating and far-reaching, including for many areas of commercial real estate, the industrial sector has remained strong, according to a recent Bisnow interview with Jim Clewlow, chief investment officer at CenterPoint Properties.
Clewlow will share what core investors are looking for and how they evaluate deals at NAIOP’s upcoming CRE.Converge Virtual conference, October 7-8. Read an excerpt of the article below and register today for CRE.Converge Virtual. Exclusive savings for NAIOP members through August 14!
The article reads, in part:
“Industrial has never been glamorous, but it’s a steady performer through the business cycles,” said Jim Clewlow, chief investment officer at CenterPoint Properties, an industrial investor that operates 60 million square feet of industrial space. “Even with the e-commerce surge, it’s the low volatility that makes this an attractive place to be right now.”
Clewlow said that pricing has remained rock-steady in the nine super-core markets where CenterPoint operates, which include the ports of Los Angeles and New Jersey and the railyards of Chicago, places where millions of shipping containers are shuttled each year.
Nationally, Clewlow said, pricing in core markets took between a 1% or 2% hit in the last few months, but has recovered to where it was had been prior to the coronavirus pandemic. A few highly desirable urban infill locations have even possibly seen a boost to their value since the pandemic began, Clewlow said, thanks to the increased reliance on e-commerce delivery and logistics as a result of stay-at-home orders.
Read the full article on Bisnow.