Property Types Industrial
Kenco Takes Over Management of 1.6 MSF Whirlpool Facility in Columbus
Aug 25, 2008
By: Thomas Peretti, Contributing Correspondent

Kenco Logistic Services L.L.C. has obtained management rights to a Whirlpool distribution center in Ohio. Kenco will assume control over the 1.6 million-square-foot Whirlpool Distribution Center in Columbus, Ohio, upon its opening in October.

Kenco will also manage the firm’s existing facility, located within a mile of the new site, and oversee the transition between the facilities. This agreement continues the relationship that Kenco and Whirlpool have had since 1979, when Kenco first began providing the firm with its logistics services. Kenco presently manages over 5 million square feet of Whirlpool facilities.

Kenco expects that it will maintain the current employment level of 180 full-time workers and 60 temporary workers in the operation of the state-of-the-art facility. Kenco will rely on the existing employees to help ease the transition as it assumes management of the site.

Greg Boring, Kenco’s director of operations noted in a release, “(The workers’) skill, dedication and understanding of Whirlpool's operational needs will allow a seamless transition from the previous management company to Kenco Logistic Services."

Kenco is one of the leading firms in the third-party logistics industry. The firm currently manages approximately 90 facilities totaling over 23 million square feet nationwide. Kenco provides logistics services for a variety of Fortune 100 companies, including GlaxoSmithKline and Bristol-Myers Squibb, among others. Kenco Logistic Services is part of the Kenco family of companies, which includes transportation and real estate services.

 
Recent Industrial Headlines
Top 10 Office Markets See Modest Gains
Nov. 20, 2008
While prices across commercial real estate are down from a year ago, they increased in September up 2.5 percent from the month before, according to an Associated Press report on Moody's/REAL Commercial Property Price Indices. The top 10 markets showed modest gains in all property sectors in the third quarter, Moody's said.
Flagler Inks Tenant to 240,000-SF Lease at Florida Biz Park
Nov. 20, 2008
Flagler Development Group has signed paper products firm Lagasse Sweet to a 240,000-square-foot lease in a build-to-suit facility at Flagler Station, South Florida’s largest business park.
Ben Butcher STAG Capital Kicks Off Industrial Fund with Anticipated $1.3B Buying Power
Nov. 19, 2008
Boston-based STAG Capital Partners has initiated STAG Investments V L.P., a fund targeting commitments of $400 million for the acquisition of predominantly high-yield single-tenant industrial properties across the country.
rakowich New ProLogis CEO Details Plans to Put Company Back on Track
Nov. 14, 2008
In a presentation to investors Thursday, new ProLogis CEO Walter Rakowich, the company’s former president & COO, fleshed out some specifics about how the world’s largest developer/owner of distribution facilities will move forward past its current crisis. In addition, a new report on equity REITs documents just how much those entities have been shaken up lately.
schwartz REIT Woes Continue as Prologis CEO Schwartz Resigns; Firm to Halt Development, Slash Dividend
Nov. 12, 2008
Jeffrey Schwartz, CEO & chairman of Denver-based global industrial real estate giant Prologis, will resign from his position after nearly four years at the helm. Schwartz will be replaced as CEO by current Prologis president & COO Walter Rakowich, while board trustee Stephen Feinberg will assume the role of chairman.
 

 

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