US-based industrial firm Bridge Development Partners has launched its first overseas office in the UK with the hire of former Prologis vice president and market officer Paul Hanley.
Headquartered in Chicago, Illinois, Bridge focuses on last-mile logistics, brownfield redevelopment and cold storage assets.
Hanley operates from the firm’s new London office at Bedford Square, WC1. He will oversee its acquisition and development activities throughout the UK, with an initial focus on Greater London, the South East and the West Midlands.
He will lead the team alongside Bridge’s vice president Chris Doloughty, who has relocated to London from Chicago. He will assist in delivering the firm’s business plan, as well as establishing the company’s brand in the UK.
Steve Poulos, founder, chief executive and partner at Bridge, said: “We have established ourselves as one of the most dominant players in the seven uber core industrial markets in the US and opening our UK office is the strategic next step following the growth we have had in the States.”
Hanley said: “This sector is now the most sought after from a capital perspective and is witnessing a huge surge in demand from the tenant side, making it the opportune time for Bridge to expand internationally.”
Doloughty said: “We believe there are a lot of similarities in the US and UK logistics markets and we are eager to leverage our experience and strong capital relationships to unlock best-in-class opportunities throughout the core logistics markets of the UK.”
Bridge was co-founded in 2000 by Poulos and is backed with institutional capital. As well as the UK, it focuses on acquiring and developing industrial real estate in Chicago, Miami, New Jersey/New York, Los Angeles/San Francisco, and Seattle.
It has so far acquired and developed more than 44m sq ft of industrial product, valued at more than $7.3bn (£5.5bn).
Paul Weston, regional head of Prologis in the UK, said: “Paul worked with Prologis for six years both in the US and the UK and, latterly, worked within our London acquisitions team.
“We wish Paul every success in his new venture and look forward to welcoming Gavin Quinn, from Levy Real Estate, to our leasing and development team at the end of November.”
Quinn was previously a partner at Levy. He will join at Prologis as a director, where he will help develop its core London offer with a primary focus on acquisitions.
To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette
