Letter from IAMC Chairman Bob Zane
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From Site Selection magazine, May 2004
NEWS
IAMC PEOPLE AND PROJECTS
Information storage and management company EMC Corp., based in Hopkinton, Mass., recently was awarded a $40-million contract with the Pentagon Renovation Office, part of an overall program to modernize the Pentagon's IT infrastructure. IAMC member David Streeter is director of global real estate for EMC Corp.
Boise Cascade Corp. will close two Boise Office Solutions customer contact centers (in Fort Worth, Texas, and Ottawa, Ill.) and cut 400 jobs as part of its integration of OfficeMax, which it acquired in December 2003. The company also has sold its plywood plant and sawmill in Yakima, Wash. And it has sold approximately 79,000 acres (31,971 hectares) of timberland in western Louisiana for approximately $84 million. Boise continues to own or control approximately 610,000 acres (246,867 hectares) of timberland in Louisiana and a total of more than 2 million acres (809,400 hectares) in the United States. IAMC member Jeffrey Georger is manager of corporate real estate for Boise Cascade.
Binswanger/CBB has welcomed Kevin S. Cullina back to the fold. Most recently a project manager with Gilbane Building Co. and with Trammell Crow, Cullina was at one time a site selection, due diligence and construction management expert for Binswanger. Now he has returned as Western Region vice president, management services, operating out of the company's Culver City, Calif., office. Over the years he has represented such corporate clients as IAMC member company Pfizer, Comcast Corp. and Shell Oil. John Dues, vice chairman of Binswanger/CBB in Vienna, Va., is an IAMC member.
Keith L. Heller, senior vice-president of CN's Eastern Canada Region, retired to become CEO of English Welsh & Scottish Railway (EWS) on Jan. 1, 2004. Keith Creel, CN's senior vice-president, Western Canada Region, replaced Heller. Peter Marshall, a CN vice-president in operations, succeeded Creel as senior vice-president, Western Canada Region. IAMC member Kay Bryant is director of business development for CN, a founding sponsor of IAMC.
The Los Angeles office of Mohr Partners, an international corporate real estate advisor, has welcomed on board Christopher C. Leu as director, financial services. The most recent post of his 25-year career was as president and CEO of a local commercial bank. Born and raised in Hong Kong, Leu speaks fluent Mandarin and Cantonese and is an expert in China real estate. Dina Boscardin, out of Mohr Partners' Scottsdale, Ariz., office, is an IAMC member.
At design and construction firm The Facility Group, based in Smyrna, Ga., IAMC member Mike Colvin has been promoted to senior vice president, responsible for managing and directing the firm's site sele ction, economic development and industrial process and Federal Government sales activities. Colvin's previous experience includes executive positions with Settles Aero Systems and Kellogg Brown & Root.
At Campbell Soup Co., the North American business has been realigned in order to improve speed to market, better leverage resources and increase efficiency. Four different business units comprise the new division – called Campbell North America – and represent approximately $5 billion in sales during the most recent fiscal year. Mark Sarvary, a former Nestlé and J. Crew executive who joined Campbell in 2002 as president of Pepperidge Farm, is heading the new division. "We must be more agile, improve the speed of our decisions and have more integrated planning and execution," said Campbell's President and CEO Douglas R. Conant in announcing the realignment, making special note of the soup, sauces and beverages businesses. "To improve our organization's agility and execution, we will more effectively integrate resources from functional areas such as supply chain, research and development, and sales." IAMC Chairperson Bob Zane is Group Director, Real Estate Operations for Campbell Soup Co.
Among the highlights of 2003 for First Industrial Realty Trust: Increased occupancy for three consecutive quarters to 88.4 percent; tenant retention of 71.9 percent; continued successful spread investing activities, selling properties at a weighted average 8.6-percent cap rate and acquiring/developing properties at a projected 10.4-percent stabilized weighted average cap rate; and entry into the San Diego, Calif., market with the acquisition of a nine-facility, 725,000-sq.-ft. (67,353-sq.-m.) industrial park. Lawrence Spinelli, senior vice president with First Industrial operating out of New Jersey, is an IAMC member.
After closing more than 30 plants in two years as part of a two-year restructuring plan, Dana Corp. was able to show a net profit for the fourth quarter of 2003. The company is planning to sell its aftermarket business by the end of the second quarter of 2004. It also recently named former General Motors executive Michael Burns as CEO, replacing Joe Magliochetti, who died in September 2003. Phil Zmuda is senior manager, real estate transactions, for Dana Corp.
Boise Cascade Corp. will close two Boise Office Solutions customer contact centers (in Fort Worth, Texas, and Ottawa, Ill.) and cut 400 jobs as part of its integration of OfficeMax, which it acquired in December 2003. The company also has sold its plywood plant and sawmill in Yakima, Wash. And it has sold approximately 79,000 acres (31,971 hectares) of timberland in western Louisiana for approximately $84 million. Boise continues to own or control approximately 610,000 acres (246,867 hectares) of timberland in Louisiana and a total of more than 2 million acres (809,400 hectares) in the United States. IAMC member Jeffrey Georger is manager of corporate real estate for Boise Cascade.
Binswanger/CBB has welcomed Kevin S. Cullina back to the fold. Most recently a project manager with Gilbane Building Co. and with Trammell Crow, Cullina was at one time a site selection, due diligence and construction management expert for Binswanger. Now he has returned as Western Region vice president, management services, operating out of the company's Culver City, Calif., office. Over the years he has represented such corporate clients as IAMC member company Pfizer, Comcast Corp. and Shell Oil. John Dues, vice chairman of Binswanger/CBB in Vienna, Va., is an IAMC member.
Keith L. Heller, senior vice-president of CN's Eastern Canada Region, retired to become CEO of English Welsh & Scottish Railway (EWS) on Jan. 1, 2004. Keith Creel, CN's senior vice-president, Western Canada Region, replaced Heller. Peter Marshall, a CN vice-president in operations, succeeded Creel as senior vice-president, Western Canada Region. IAMC member Kay Bryant is director of business development for CN, a founding sponsor of IAMC.
The Los Angeles office of Mohr Partners, an international corporate real estate advisor, has welcomed on board Christopher C. Leu as director, financial services. The most recent post of his 25-year career was as president and CEO of a local commercial bank. Born and raised in Hong Kong, Leu speaks fluent Mandarin and Cantonese and is an expert in China real estate. Dina Boscardin, out of Mohr Partners' Scottsdale, Ariz., office, is an IAMC member.
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At Campbell Soup Co., the North American business has been realigned in order to improve speed to market, better leverage resources and increase efficiency. Four different business units comprise the new division – called Campbell North America – and represent approximately $5 billion in sales during the most recent fiscal year. Mark Sarvary, a former Nestlé and J. Crew executive who joined Campbell in 2002 as president of Pepperidge Farm, is heading the new division. "We must be more agile, improve the speed of our decisions and have more integrated planning and execution," said Campbell's President and CEO Douglas R. Conant in announcing the realignment, making special note of the soup, sauces and beverages businesses. "To improve our organization's agility and execution, we will more effectively integrate resources from functional areas such as supply chain, research and development, and sales." IAMC Chairperson Bob Zane is Group Director, Real Estate Operations for Campbell Soup Co.
Among the highlights of 2003 for First Industrial Realty Trust: Increased occupancy for three consecutive quarters to 88.4 percent; tenant retention of 71.9 percent; continued successful spread investing activities, selling properties at a weighted average 8.6-percent cap rate and acquiring/developing properties at a projected 10.4-percent stabilized weighted average cap rate; and entry into the San Diego, Calif., market with the acquisition of a nine-facility, 725,000-sq.-ft. (67,353-sq.-m.) industrial park. Lawrence Spinelli, senior vice president with First Industrial operating out of New Jersey, is an IAMC member.
After closing more than 30 plants in two years as part of a two-year restructuring plan, Dana Corp. was able to show a net profit for the fourth quarter of 2003. The company is planning to sell its aftermarket business by the end of the second quarter of 2004. It also recently named former General Motors executive Michael Burns as CEO, replacing Joe Magliochetti, who died in September 2003. Phil Zmuda is senior manager, real estate transactions, for Dana Corp.