Newcastle is also committed to environmentalresponsibility. Half of its developments are LEEDSilver-certified and all buildings sport features to helpreduce carbon footprint, including preparation forinstallation of solar panels; drought-tolerant landscaping; water-efficient landscaping; enhanced windowand building insulation and design to accommodatemaximum daylight.
The firm’s team is active both within the businessand local community. Many Newcastle professionalsare members of NAIOP and ULI, and employees areencouraged to get involved in local civil work. Aboveall, the firm aims to live up to its core principles: integrity, transparency, respect and relationship.
Dennis Higgs Jackson Smith Todd Johnson
Definition: The capacity to have an effecton the character, development, or behaviorof someone or something.
Congratulations to John Dobrott for beingrecognized as one of Real Estate Forum’s
2020 Industrial Influencers.
CALIFORNIA | ILLINOIS | ARIZONA | TEXAS
Developer and investor NorthBridge Partners has spent the last 15 years focusing on last-mile industrial properties in major markets in the Northeast US. The vertically integrated firm has been successful in its core strategy,targeting small-to-mid-sized boxes with a value-add component. Since 2015, it has invested in 30 propertiestotaling $450 million in value. The emergence of next-day and same-day delivery have underscored the firm’sacquisition philosophy: delivery time has an impact on consumer purchases. Northbridge has seen companiesseek industrial assets close to major metros to achieve those delivery goals and cut transportation costs.
This strategy has driven strong returns, particularly in the last three years. In 2018, NorthBridge closed NBPartners I Fund, which went on to generate gross returns of 53.8% IRR. The same year, it launched NB PartnersFund II, raising $113 million in discretionary capital and $30 million in a joint venture co-investment vehicle.The fund has already invested $104 million in its target markets. This year, the firm launched yet a third fundNB Partners Fund III with a target fundraise of $300 million.