What Outrigger Industrial does

Outrigger Industrial is a privately held industrial real estate investment management and development firm headquartered in Chicago, Illinois, specializing in Class A warehouse, distribution, and logistics facilities across the United States. The company was officially launched in December 2024 by four real estate executives — Michael Podboy, Joe Trinkle, William Lu, and Steve Rowley — who previously led the CA Industrial platform and Centris Industrial REIT and had collectively developed and acquired approximately 10 million square feet of industrial product across 15 U.S. markets for roughly $1.3 billion. Outrigger operates as a vertically integrated platform executing both ground-up development and value-add acquisition strategies in supply-constrained infill markets, with a stated focus on Class A specifications (30-40 foot clear heights, ESFR sprinkler systems, abundant dock capacity) and locations near major interstates, airports, and ports.

The firm is structured as a joint venture between its four managing partners (operating through PTLR, LLC) and institutional capital partners Davidson Kempner Capital Management (~$37B AUM) and Monarch Alternative Capital (~$16B AUM). Outrigger also functions as the external advisor to Centris Industrial, a private REIT whose investors include Davidson Kempner, Monarch, and Long Pond Capital. Since 2020, the underlying team has executed $1.6 billion in industrial acquisitions across 29+ projects and 11.1 million square feet in 9+ states. The current portfolio includes 6.4 million square feet of Class A developments with a 1.4 million square foot near-term pipeline, maintained through six regional offices (Chicago, Atlanta, Columbus, Houston, Dallas, and Southern California) that cover all major U.S. industrial markets.

Revenue is generated through three primary streams: (1) net rental income from owned and developed Class A industrial properties leased to logistics, distribution, and manufacturing tenants; (2) capital-event returns from acquisition, repositioning, and disposition cycles on value-add assets; and (3) asset management fees for advising the Centris Industrial REIT and managing institutional co-investment JVs. Outrigger deploys capital through joint venture partnerships with a range of institutional and private real estate firms (MetLife, Barings, Alpaca Real Estate, Longpoint Partners, Midloch Investment Partners, Wang Peng Investment Group), and distributes product through direct enterprise leasing supplemented by major commercial real estate brokerage firms including JLL, Cushman & Wakefield, Lincoln Property Company, and Newmark.

Name

Outrigger Industrial

Legal name

Outrigger Industrial, LLC

Website

https://outriggerindustrial.com

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

11–50 employees

Short description

Outrigger Industrial is a Chicago-based, vertically integrated industrial real estate development and investment firm specializing in Class A warehouse and distribution facilities across major U.S. markets, backed by Davidson Kempner and Monarch Alternative Capital.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Industrial Real Estate Development: Ground-up development of Class A industrial properties for lease to logistics, distribution, and manufacturing tenants. Revenue generated through rental income from completed developments.
2. Property Acquisition & Value-Add: Acquisition of existing industrial properties, repositioning through capital improvements, and leasing to increase property value. Revenue from increased NOI and eventual disposition.
3. Asset Management Fees: External advisor to Centris Industrial private REIT, generating management fees from overseeing the REIT's industrial portfolio.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Outrigger Industrial is a vertically integrated real estate investment management and development firm that develops, acquires, and manages Class A industrial warehouse and distribution facilities across major U.S. metropolitan markets. The company executes ground-up development and value-add acquisition strategies, leases space to logistics, manufacturing, and e-commerce tenants, and serves as the external advisor to the private REIT Centris Industrial.

Product overview

Outrigger Industrial is a privately held real estate investment management and development firm specializing in industrial real estate across the United States. The company operates as a vertically integrated platform offering ground-up development and value-add acquisition opportunities. Their portfolio includes Class A industrial distribution centers, logistics facilities, and warehouse properties across multiple U.S. markets. The company functions as the external advisor to Centris Industrial, a privately held REIT, and invests through joint venture partnerships with institutional capital partners including Davidson Kempner Capital Management and Monarch Alternative Capital. Named product offerings include portfolio properties such as Centris Industrial at Mesa (Mesa, AZ), Telegraph Pointe (Santa Fe Springs, CA), 99 Central Logistics Center (Tulare, CA), Falcon II Distribution Center (Oakwood, GA), Generation Park Distribution Center (Houston, TX), and numerous other industrial developments totaling millions of square feet across strategic U.S. markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Class A Industrial Ground-Up Development Vertically integrated ground-up development of Class A industrial warehouse and distribution facilities in densely populated U.S. metropolitan markets. Delivered for logistics, manufacturing, and e-commerce tenants with modern specifications including 30-40 foot clear heights, ESFR sprinkler systems, abundant dock doors, and trailer parking.
• Value-Add Industrial Acquisitions Acquisition of existing industrial properties with repositioning through capital improvements and leasing to increase property value. Recent transactions include the 227,277 SF Stone Mountain (GA), 127,735 SF Corona (CA), 99,500 SF Pittsburgh, and 124,000 SF Bear (DE) acquisitions.
• External Asset Management for Centris Industrial REIT External advisory and asset management services for the Centris Industrial private REIT, overseeing its U.S. industrial portfolio and generating management fees. Centris Industrial is a private REIT focused on ground-up development and logistics projects.
• Centris Industrial at Mesa Two-building Class A industrial development in Mesa, Arizona totaling 421,682 square feet within the Pecos Advanced Manufacturing Zone, featuring LED lighting, full HVAC in warehouse spaces, and generous clear heights.
• Telegraph Pointe Two-building Class A industrial development in Santa Fe Springs, California totaling 179,587 square feet. LEED Silver Certification targeted with 30' clear heights, 60' staging bays, sustainable design reducing water use by 60% and energy consumption by 50%.
• 99 Central Logistics Center Multi-phase Class A industrial business park in Tulare, California. Phase 1 completed with 542,570 square feet; master plan includes four buildings totaling 2.4 million square feet on 160 acres. Features 36' clear heights and expandability up to additional 550,000 square feet.
• Falcon II Distribution Center Three-building Class A industrial complex in Oakwood, Georgia totaling 496,195 square feet along Interstate 985 near Atlanta. Features high power capacity and modern loading dock configurations. Brought to 70% occupancy following Boehringer Ingelheim lease.
• Generation Park Distribution Center Two-building Class A industrial distribution center in Houston, Texas totaling 1,281,871 square feet within Generation Park master-planned business park on Beltway 8 in Northeast Houston. Benefits from Foreign Trade Zone (FTZ) designation.
• Kennedy Logistics Center (727 Kennedy Street) Redevelopment project in Oakland, California at 727 Kennedy Street delivering a 177,000 square foot modern Class A industrial building with 32' clear height, 30 new dock high positions, and 130' truck court.
• M75 Commerce Center Class A industrial building in McKinney, Texas totaling 304,085 square feet. Features 36' clear heights, cross dock configuration, and climate-controlled warehouse. Located immediately off US Highway 75 with access to Dallas-Fort Worth metroplex.

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• Longpoint PartnersminorStrategic or Co-development PartnerBoston-based vertically integrated private equity real estate firm. Co-invested with Outrigger on M-75 Commerce Center in McKinney, TX for development, leasing, and disposition.
• LGE Design BuildminorImplementation/ SI/ Consulting PartnerPremier design-build construction firm with 30 years experience in Southwest markets. Designed and constructed Centris Industrial at Mesa, AZ project (400,000+ SF).

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Prologis: Largest publicly traded industrial REIT globally with over $200B in AUM. Directly comparable as a Class A warehouse and logistics developer/operator; Steve Rowley worked at Prologis earlier in his career. Outrigger operates as a much smaller, sponsor-backed competitor in the same core product type.

Direct peers

• Duke Realty: Major public industrial REIT (acquired by Prologis in 2022) that developed Class A bulk industrial across the US. Direct peer to Outrigger with similar infill and Class A distribution strategy; Outrigger's portfolio resembles Duke's pre-acquisition asset profile.
• First Industrial Realty Trust: Public industrial REIT focused on Class A bulk distribution and light industrial properties across the US. Direct peer given similar infill market strategy and tenant profile. Adam Niemeyer, Outrigger's Columbus Market Officer, previously worked at First Industrial on 20+ acquisitions and 2M+ SF of developments.
• Liberty Property Trust: Industrial REIT (acquired by Prologis in 2020) that was a leading Class A industrial developer prior to take-private. Three Outrigger co-founders (Trinkle, Rowley) previously held senior roles at Liberty, and Outrigger's product profile and market strategy closely mirror Liberty's pre-acquisition playbook.
• Portman Industrial: National industrial real estate developer focused on speculative and build-to-suit projects across the Southeast and Southwest. Direct peer given similar product profile; Russell Bormann, Outrigger's Texas Market Officer, was previously Vice President at Portman overseeing Southwest market strategy.
• EastGroup Properties: Public industrial REIT focused on Class A bulk distribution and light industrial in infill Sun Belt markets. Comparable product type and target geography; Outrigger's Houston, Atlanta, and Florida assets overlap with EastGroup's core footprint.
• Rexford Industrial Realty: Public industrial REIT focused exclusively on infill Southern California industrial properties. Highly comparable strategy targeting supply-constrained, high-rent submarkets—directly mirrors Outrigger's infill focus. Outrigger's Santa Fe Springs (Telegraph Pointe), Corona, La Puente, and Union City assets overlap with Rexford's core geography.
• CenterPoint Properties: Privately held industrial real estate investment and development company focused on Class A distribution and logistics facilities. Co-founder William Lu was Senior Vice President at CenterPoint responsible for West region development (LA, Oakland, Seattle). Comparable infill-focused industrial platform.
• Terreno Realty Corporation: Public industrial REIT focused exclusively on infill markets in six major US coastal markets. Closest public-market comparable given infill focus and Class A industrial product; similar tenant profile to Outrigger's e-commerce, logistics, and manufacturing customer base.

Others

• CA Ventures / Centris Industrial (predecessor): Predecessor platform of Outrigger's founding team (CA Industrial platform and Centris Industrial REIT) where the four co-founders previously deployed capital. Comparable in strategy and personnel; serves as the baseline track record of approximately $1.3B across 10M SF that Outrigger was formed to continue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/outrigger-industrial

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Outrigger Industrial