B&D Holdings, a national owner-developer of industrial properties based in Warren, on Wednesday said it hired Jack Shulman as its new senior vice president of acquisitions.
Shulman will source value-add and opportunistic industrial deals in the Northeast with an emphasis on northern New Jersey. Shulman has over 17 years of experience in the real estate sector and has been involved in over $1 billion of transactions in his career.
B&D is one of the most active buyers in the country. B&D has closed on over 38 acquisitions in the last two years — with 20 acquisitions in 2023 alone — bringing total assets under management to approximately 8 million square feet across more than 200 properties in 34 states.
“We have a strong acquisition and transactions team, built on top of a long history of investing, owning and operating industrial real estate. In a difficult investment period, we have set ourselves apart by being well capitalized, nimble when deal issues arise, and by having an efficient investment approval process,” Rob Logan, who was recently promoted to principal of B&D and oversees acquisitions, capital markets and asset management, said.
“It is an incredible accomplishment to have closed over 38 acquisitions in the last 24 months during such a tumultuous time. While many buyers have pulled back, B&D has charged full steam ahead. I commend Martin Segal’s leadership and senior management for building such an amazing platform, and I am honored to be part of it,” Shulman said.
Segal, B&D’s founder and CEO, said: “We are pleased to have Jack join our team and continue to pursue strategically growing our national portfolio. The industrial space continues to present attractive investment opportunities and the addition of Jack will allow us to continue to take advantage of these opportunities as they arise.
“Traditionally, we have focused across the majority of the industrial spectrum, with a particular attention to unit sizes below 100,000 square feet, often with chronically undersupplied outside storage, and below replacement cost. We will continue to strive to provide best-in-class service to our tenants and deliver strong returns to our funds and valued partners.”
B&D is targeting value-add deal sizes that are between $5 million to $150 million nationwide.