CA appoints industry veteran to help West Coast expansion
CA Ventures (CA), a vertically integrated real estate investment management company, hired William Lu as senior vice president and market officer for the firm's industrial platform.
In this role, Lu will be responsible for the strategic oversight and execution of the division’s growth across the West through deal pipeline generation and market strategy creation.
“This announcement marks a significant strategic milestone as CA’s industrial platform expands its footprint to some of the top performing industrial markets in the country,” says Michael Podboy, president of CA’s industrial platform. “CA industrial remains incredibly well positioned to capitalise on strong secular tailwinds as vacancy rates for industrial properties near an all-time low, reflecting the booming e-commerce industry. William’s deep market knowledge of the West coupled with his 15 years of real estate experience make him a fantastic addition to our team, and we look forward to his contributions to the further execution of our investment strategy.”
Over the last year, CA’s industrial platform has demonstrated outstanding performance and momentum leveraging the exponential growth of the e-commerce industry. Since the start of 2021, CA industrial has closed on several transactions and remains on track to commence development projects totalling more than 9 million square feet of industrial space across the US by year end, including facilities in Denver, Phoenix, Dallas, Atlanta, Savannah, Columbus, Indianapolis and Las Vegas, among others.
“I am thrilled to lead the strategic direction and execution of CA industrial’s growth across the West and further build on the momentum the team has already experienced in other regions of the US,” says William Lu. “I look forward to working with this team of industry veterans and complementing Steve and Joe’s market experience as we capitalise on the strong momentum surrounding industrial real estate across the US.”
Prior to joining CA, Lu served as senior vice president for CenterPoint Properties, where he was responsible the development department across the West including the Greater Los Angeles, Oakland and Seattle markets. There, Lu was responsible for setting strategic goals for the western United States region, recruiting and managing a regional team, ensuring execution of corporate goals, working with the investments team on acquiring stabilised assets, sourcing development sites and serving as the primary point of contact for brokers and tenant for development projects. Lu has also served as a vice president at Conor Commercial Real Estate where he was responsible for managing development projects in the California/Nevada market, including land selection and acquisition, feasibility/underwriting, entitlements, financing, development/construction, leasing and disposition efforts.
Lu earned a BS in Civil Engineering from the University of California, Los Angeles, and an MBA in Business Administration and Management from the University of California at Irvine’s Paul Merage School of Business.