Chad Tredway
Global head of real estate at J.P. Morgan Asset Management
Chad Tredway was named J.P. Morgan Asset Management’s (JPMAM) global head of real estate in May, just 18 months after he was appointed head of real estate for the Americas.
Today, JPMAM manages over $79 billion in real estate assets globally, and it continues to lean into sectors such as industrial outdoor storage (IOS), self-storage, middle-income housing and net lease.
“One thing that we’ve really been focused on is the CHIPS Act,” Tredway said, referring to Biden-era legislation aimed at onshoring more microchip production. “It’s driving a great opportunity for net lease, where we have around a $1 billion portfolio. Manufacturing is growing in the United States and there’s a need for companies to lease space, so we’re seeing our market share grow in sale-
leasebacks and net lease.”
JPMAM’s net lease strategy has doubled since 2024, but, more broadly speaking, the advanced manufacturing space is a key theme for JPMAM today. “Manufacturing demand is growing by 50 percent a year, but finding manufacturing talent is really difficult,” Tredway said. “There’s a deeper story in industrial that no one’s talking about — and that story is actually the power going to an industrial site.”
The higher the amperage going to an industrial manufacturing building’s site, the higher the demand and the higher the rental rate — particularly for well-located sites close to population nodes.
“We’ve been focused on buildings that have over 4,000 amps of power, and the reason for that is it allows for robotics and automation and reduces the need for actual labor, given the shortage of manufacturing labor,” Tredway said. “We’ve been early movers in constructing a portfolio to take advantage of this trend. These outperforming buildings represent just over a quarter of the overall warehouse market. They are slightly over half of our portfolio, benefiting our investors.”
Industrial outdoor storage is another hot spot. JPMAM began investing in the space in 2018 and today owns more than $2 billion in IOS assets. Then, there’s its 65,000 middle-income housing units — 6,000 of which are single-family rentals, mainly in the Sun Belt.
