Jack A. Cuneo, CEO of Chambers Street Properties (CSG), says that while his company eyes future deals, it is being disciplined in making acquisitions.
“We’re seeing deals but we’re also being very prudent about our balance sheet, and we’re being very careful about keeping our debt metrics in line. We’re not going crazy chasing assets just for the sake of doing deals,” Cuneo said.
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Cuneo says Chambers Street is not just looking at numbers, but characteristics of the real estate: where is it located and if it will be viable for a number of potential tenants. Additionally, he sees Chambers Street benefiting from the growth of e-commerce.
“We are seeing a lot more interest in industrial in this current market cycle because of the growth of e-commerce. We’re lucky to have some major e-commerce ventures as tenants, and we feel we understand their needs as a tenant, but we can also appeal to traditional industrial and logistics tenants too. We like the way the trend line is developing in this sector, and we feel we are in a good position to prudently build our market share,” Cuneo said.
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