Brookfield's Barnwell Travels 7,100 Miles To Visit a Warehouse Like No Other She's Seen
By Tony Wilbert | CoStar News | August 3, 2022 | 9:46 AM
Brookfield Properties' Devin Barnwell recently got out of her Atlanta office — in a big way.
Barnwell, who serves as global logistics portfolio manager at Brookfield Asset Management, traveled more than 7,100 miles to tour a six-story warehouse under construction in South Korea. Barnwell spent a week in the country with Brookfield’s logistics team and leadership including Stuart Mercier, head of Asia, and Korean head Wonbin Suh and portfolio manager Joohyoun "Jay" Park checking out developments and markets and opportunities.
While multistory industrial buildings are gaining popularity in the United States, the one she toured blew her away.
"I am at a loss of words to accurately convey the size and scale" of an approximately 4.6 million-square-foot, six-story warehouse, Barnwell said in a LinkedIn post. "It’s like nothing I have seen in the U.S. or elsewhere!"
The project, called Wonchang Logistics Center, is about 20 miles from Incheon International Airport and approximately 25 miles from the city center of Seoul, the capital. Brookfield has agreed to purchase the property and is talking with potential tenants. The center which would top a five-story, 4 million-plus-square-foot behemoth that warehouse giant Prologis is constructing in Ontario, Calif.
Back in Atlanta, Barnwell soon might be heading to another part of the world as Brookfield expands: "Our largest development pipeline by far is the US, but we are active developers in Brazil, China, Japan [and] several European countries, and soon Australia in addition to Korea," she wrote in a message on LinkedIn.