Queensland superannuation fund QSuper has invested around $1 billion in United States transport and industrial assets this year, taking advantage of the rise of e-commerce in the post-COVID recovery through holdings in transport and logistics depots across 14 American States.
The investments include majority ownerships of the Sunbelt Logistics Portfolio and the Mercury Trust portfolio.
Chief Investment Officer and acting Chief Executive Officer of QSuper, Charles Woodhouse said the investments gave members further exposure to e-commerce, where sales were expected to account for 20 per cent of all retail sales in 2021, rising to 30 per cent over the next decade.
“The Amazon phenomenon has changed both the nature of retailing and the industries that support it,” Mr Woodhouse said.
“We see this as a means of giving QSuper members access to an important supporting industry,” he said.
“The flow-on effect is the increased demand for industrial real estate assets to store and distribute goods purchased online.”
He said this demand had seen unprecedented growth in rents that tenants were willing to pay and, in turn, return potential for landlords and investors.
Mr Woodhouse said QSuper had focused on buying industrial assets close to city centres and major logistics infrastructure, including highways, rail, ports and airports.
“The Sunbelt purchases are located, on average, less than two kilometres from major transport arteries, giving tenants access to large, dense population centres with limited transportation costs,” he said.
“It comes just months after a separate deal that gives QSuper control of the 27 transport hubs designed to connect local markets with national distribution networks.”
Mr Woodhouse said QSuper had a vast US investment portfolio, which also included office buildings in Manhattan, Bellevue, Chicago and Austin and multi-family properties in Washington DC and Virginia.
