Bridge Development Partners (“BRIDGE”), the US-based privately owned industrial real estate firm, today announced that it has officially launched its UK operations, appointing industrial real estate specialist Paul Hanley as Partner, London to lead the team alongside BRIDGE’s Vice President Chris Doloughty.
Headquartered in Chicago, Illinois, the firm focuses on last mile logistics, brownfield redevelopment and cold storage assets. This model and expertise will be brought to the UK to quickly establish BRIDGE’s position in this new market, as the firm has done successfully in each of its core US markets.
Beginning 2nd November, the UK team will operate from Bedford Square, London WC1 and will be pursuing land and development opportunities throughout Greater London, the South East and the West Midlands.
“We’ve 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,” said Steve Poulos, BRIDGE’s Founder, Chief Executive Officer and Partner. “We look forward to providing Paul with the capital and the resources required to assist his UK expansion.”
Hanley will be responsible for BRIDGE’s acquisition and development activities throughout the UK. He has been involved in the acquisition, development and leasing of over 6 million square feet of industrial real estate with a value in excess of £1 billion during his career working across Greater London, the Southeast and the Midlands markets. Hanley has also worked in the US across the Texas and Tennessee regions.
“I am thrilled to be joining BRIDGE during this exciting time for the UK logistics market. 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,” said Hanley. “BRIDGE is well established across the US, where they are regarded as one of the most active industrial and logistics developers. As a forward thinking, entrepreneurial company, the team is well placed to act quickly and decisively to secure the best opportunities throughout our chosen markets.”
Doloughty, who has been with the company for over two years, has relocated to London from Chicago to work alongside Hanley. He will assist in executing BRIDGE’s business plan and processes, as well as establishing the company’s brand in the UK.
“We are incredibly excited to open our first international office and expand the BRIDGE platform to the UK,” said Doloughty. “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 CEO and industry veteran Steve Poulos. Financially backed with institutional capital, the firm has a focus on the acquisition and development of Class-A industrial real estate in the supply constrained core US markets of Chicago, Miami, New Jersey/New York, Los Angeles/San Francisco, and Seattle. Since its inception, BRIDGE has successfully acquired and developed more than 44 million square feet of industrial product, with a value of more than $7.3 billion across the US.