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CA Ventures’ New Platform Targets Industrial
Branching out further from its origins in student housing, Chicago-based CA Ventures has launched CA Industrial, a new division that will pursue speculative development and acquisitions in the sector. It will be led by Sean Spellman, chief development officer with CA, and 24-year industry veteran Jim McGill (pictured), who has joined as EVP.
CA Industrial plans to invest $500 million in the logistics and distribution space over the next five years. While ultimately the new venture will seek out opportunities across the country, the initial focus will be on the Central U.S., highlighting distribution networks that support regions of sustained employment and population growth.
“As vacancies are at all-time lows in nearly all markets and land is becoming scarcer, we believe that demand will continue to outpace supply for the immediate future,” said McGill, whose career includes senior positions with McShane Development Company, AMB and Prologis.
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