Jack Shulman
By Joshua Burd
Industrial real estate investor and developer B&D Holdings has tapped industry veteran Jack Shulman to spearhead its expansion in the Northeast.
As senior vice president of acquisitions, Shulman will source value-add and opportunistic industrial deals in the region with an emphasis on northern New Jersey, according to a news release. He comes to the post with more than 17 years of experience in the real estate sector, having been involved in more than $1 billion in transactions in his career.
His arrival comes amid major growth for B&D, which has closed on more than 38 acquisitions in the last two years, the news release said. That includes 20 acquisitions in 2023 alone, bringing total assets under management to roughly 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,” said Rob Logan, who recently was promoted to principal of B&D and oversees acquisitions, capital markets and asset management. “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.”
Shulman added: “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.”
B&D, which is privately held, is the main investment arm of the Segal family office and the Segal Family Foundation. The Warren-based firm was established after the Segal family’s successful ownership and operation of one of the nation’s leading building supply companies, Bradco Supply, which grew to 150 branches across the United States before being sold in 2008.
The company said it was targeting value-add deals nationwide that are between $5 million and $150 million.
“We are pleased to have Jack join our team and continue to pursue strategically growing our national portfolio,” said Segal, B&D’s founder and CEO. “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.”
