IRVINE, CA-IndCor Properties has awarded the management of a 9-million-square-foot Southern California industrial portfolio in Orange County, San Diego and the Inland Empire to Cushman & Wakefield. The assignment adds to C&W's existing management contract involving 3.5 million square feet of IndCor's industrial properties in five Chicago submarkets, including O'Hare and I-55 and I-80 corridors.

C&W's industrial-property management portfolio has grown by 18 million square feet in the past three months to 121 million square feet. The industrial-property management team is led by managing director Victoria Knudson and supported by regional practice leaders Mark Stevens in the Western US and Sam Collisonin the Eastern US. Knudson tells GlobeSt.com, “We attribute the rapid growth of our industrial property management portfolio to our integrated approach to service delivery, which involves engaging tenants from the outset and understanding their goals. We are extremely pleased that IndCor Properties saw the value of our national management platform, and we look forward to building on the in-depth discussions already underway with them.”

According to John Santora, president and CEO of Cushman & Wakefield's corporate-occupier and investor-services group, “We are delighted that IndCor continues to recognized Cushman & Wakefield's capabilities in the delivery of industrial-property management and leasing services. This new contract reflects our commitment to provide the very best top talent, consistent great service and drive meaningful results for our clients.”

As GlobeSt.com reported exclusively last month, three industrial/flex-tech properties totaling approximately $17 million have sold in the Southern California market. The properties are located in Anaheim, Santa Ana and La Mirada.

According to Avison Young principal Dan Vittone, who, along with principal Alan Pekarcik, represented the sellers of the Anaheim and Santa Ana properties and the buyer of the La Mirada property in the transactions, “Demand for multi-tenant industrial parks in Southern California remains strong, especially given the increased activity by 1031-exchange buyers as a result of changes to federal and state tax laws that went into effect January 1, 2013.”