# ICM Realty Group and Concord Capital Management to Introduce U.S. Sunbelt Industrial Opportunities in Taiwan

- Link: https://www.thailand-business-news.com/pr-news/icm-realty-group-and-concord-capital-management-to-introduce-u-s-sunbelt-industrial-opportunities-in-taiwan
- Published: 2026-10-30T10:20:00+07:00
- Author: PR Newswire

TAIPEI, Oct. 30, 2026 /PRNewswire/ — ICM is excited to announce that ICM Asia is
working with Concord Capital Management to introduce its U.S. Sunbelt industrial
real estate opportunities in Taiwan.

 [⌊From left: Stanley Kung and Pablo Romero, Principals and Co-Managing Directors of ICM Asia; David Lay, Chairman of Concord Capital Management, marking their collaboration to introduce U.S. Sunbelt industrial real estate opportunities in Taiwan.⌉](https://mmx.prnasia.com/media/MS2024108/20261029213517EDT_image_1.jpg?id=OA3048912&p=medium600)

From left: Stanley Kung and Pablo Romero, Principals and Co-Managing Directors of
ICM Asia; David Lay, Chairman of Concord Capital Management, marking their collaboration
to introduce U.S. Sunbelt industrial real estate opportunities in Taiwan.

Through its U.S. affiliate, ICM Realty Group, LLC, ICM has established a track record
of industrial investment and development across the United States. The company is
now building on that experience as it prepares to introduce its first U.S. Sunbelt
industrial real estate investment strategy to the region.

**The U.S. Sunbelt Industrial Opportunity**

Across the U.S. Sunbelt, population growth, investment in advanced manufacturing,
and evolving supply chains are shaping demand for modern industrial facilities.

Taiwan has an important connection to these developments. Investments by companies
such as TSMC and Samsung are supporting new manufacturing facilities and the industrial
infrastructure required by their suppliers and logistics networks.

These are the economic forces behind ICM‘s interest in U.S. industrial markets, 
particularly Phoenix, Arizona, where semiconductor manufacturing and a growing supplier
ecosystem are transforming the region’s industrial landscape.

Taiwan’s growing investment in U.S. advanced manufacturing and semiconductor production
is creating new demand for industrial real estate and supporting infrastructure.
ICM sees opportunities across the U.S. Sunbelt, particularly in markets like Phoenix,
where corporate expansion and a growing network of suppliers are reshaping the region’s
industrial landscape.

**Investment Focus**

ICM’s first proposed U.S. Sunbelt industrial real estate fund will focus on development
and investment opportunities across select markets in Arizona, Texas, Georgia, Florida,
and North and South Carolina.

For this proposed fund, ICM anticipates concentrating approximately 70–80% of invested
capital in the Phoenix metropolitan area, with selective investment in other U.S.
Sunbelt markets.

**Why Phoenix**

Phoenix offers a combination of demographic growth, employment expansion and industrial
demand supported by long-term capital investment.

In Q3 2026, the Phoenix metropolitan area reported employment of approximately 2.5
million, having added 24,000 jobs over the preceding year, while its population 
grew at roughly four times the national average. ^([1])

Phoenix industrial vacancy declined to 10.3% in Q3 2026, while net absorption of
20.5 million square feet over the preceding 12 months more than doubled new supply
of 9.0 million square feet. Large-format industrial buildings of 300,000 square 
feet or larger recorded vacancy of 5.1%. ^([1])

TSMC’s expanded Arizona investment plans and Intel’s Fab 52 are expected to support
employment, supplier activity and industrial leasing demand. The Greater Phoenix
aerospace and defense sector employed 108,377 people in 2025. ^([2])

One example of the development taking shape around Phoenix’s growing semiconductor
industry is Halo Vista, a 2,400-acre master-planned development adjacent to TSMC’s
North Phoenix campus. The development is expected to include up to 30 million square
feet of industrial, manufacturing, commercial, residential and educational space,
with an initial industrial phase planned to include seven buildings totaling more
than 780,000 square feet.

^([1]) Cushman & Wakefield, Phoenix Industrial MarketBeat, Q3 2026.
[https://www.cushmanwakefield.com/en/united-states/insights/us-marketbeats/phoenix-marketbeats/industrial](https://www.cushmanwakefield.com/en/united-states/insights/us-marketbeats/phoenix-marketbeats/industrial)

^([2]) Greater Phoenix Economic Council, Aerospace & Defense, September 2026.
[https://www.gpec.org/services/research-reports/aerospace-and-defense/](https://www.gpec.org/services/research-reports/aerospace-and-defense/)

**Building on ICM’s Industrial Real Estate Experience**

ICM’s interest in Phoenix builds on ICM Realty Group, LLC’s established investment
and development experience in the region.

Previous investments include Glendale Industrial, a 270,000-square-foot speculative
industrial development along the West Valley’s Loop 303 corridor, sold in 2022, 
and Buckeye Industrial, a 250,000-square-foot, two-building development along Interstate
10, sold in 2024. These projects generated reported investment-level internal rates
of return of 66.5% and 24.1%, respectively.

ICM’s experience also includes a joint venture with Mack Real Estate Group at Mack
Innovation Park, near TSMC’s Phoenix campus. The project’s first phase, comprising
approximately 332,000 square feet of industrial space, was sold in January 2026.

Together, these investments demonstrate ICM’s experience identifying industrial 
market opportunities, working with established development partners, and executing
development, leasing and asset management strategies.

**Perspectives from ICM’s Leadership**

John Courtliff, CEO, Partner and Portfolio Manager of ICM Asset Management, said:

"We are excited to partner with Concord Capital Management to bring ICM’s North 
American industrial real estate platform to Taiwanese eligible investors. Phoenix
stands out because it combines long-term population and employment growth with a
powerful industrial demand engine driven by semiconductors, advanced manufacturing,
aerospace, defense, and technology. By concentrating 70–80% of the strategy in Phoenix
while maintaining selective exposure to Texas, Georgia, and the Carolinas, we believe
investors can participate in the most compelling Sunbelt growth corridors with appropriate
diversification."

Spencer Patton, Partner and Managing Director, U.S. Real Estate, said:

"We believe a new cycle is emerging in U.S. Sunbelt industrial real estate. After
a period of elevated supply, new construction has slowed materially, while demand
from advanced manufacturing, semiconductors, aerospace and defense, data centers,
and reshoring-related supply chains continues to build. Policy-driven capital, particularly
around semiconductor localization, defense, and domestic manufacturing, is creating
durable, occupier-led demand in strategically located markets such as Phoenix. We
see this as an opportunity to acquire and develop well-located industrial assets
ahead of the next phase of market tightening."

Stanley Kung, Principal and Co-Managing Director of ICM Asia, said:

"Asia investors, in particular Taiwan and Korea, understand better than most the
strategic importance of the semiconductor supply chain. Phoenix and Austin offer
a tangible way to participate in the industrial, logistics, and supplier infrastructure
supporting TSMC’s and Samsung’s expansion in the United States. Our objective is
to provide a professionally managed, transparent platform that allows Asian capital
to access this structural opportunity over the long term."

Pablo Romero, Principal and Co-Managing Director of ICM Asia, said:

"This is not simply a bet on one project or one market. It is a disciplined approach
to U.S. industrial real estate, anchored in Phoenix’s advanced-manufacturing ecosystem
and complemented by opportunities in Austin, Georgia, and the Carolinas. Together
with Concord Securities, we aim to give Taiwanese investors access to institutional-
quality assets in markets where technology, demographics, and industrial demand 
are converging. ICM’s long history and track record in North American industrial
real estate will bring attractive opportunities to the Asia market."

David Lay, Chairman of Concord Capital Management Corp., said:

"TSMC’s global expansion not only showcases the strength of Taiwan’s industrial 
capabilities but is also driving new demand for supply-chain infrastructure and 
real assets overseas. Our collaboration with ICM gives Concord a broader perspective
on the industrial developments associated with TSMC’s expanding global footprint,
while further strengthening our international perspective and professional capabilities.
Concord will also continue to support the Taiwan government’s initiative to develop
Taiwan as an Asian asset management hub by combining international expertise with
local capabilities and contributing to the continued development of Taiwan’s asset
management industry."

**About ICM Asset Management**

ICM Asset Management is a global alternative investment manager with expertise across
real estate, asset-backed lending and music royalties.

Officially established in 2003, the firm’s roots trace back to the late 1970s, when
the foundations of today’s business were established through the stewardship of 
capital for high-net-worth European families investing in Canadian and U.S. real
estate.

Today, ICM manages more than $2 billion in assets on behalf of more than 20,000 
investors, with operations in six countries and relationships spanning North America,
Europe and Asia. In 2026, ICM announced the establishment of its Hong Kong-based
Asia business to deepen relationships across the region.

**About Concord Capital Management**

Concord Capital Management Corp. is a Taiwan-based financial services company specializing
in offshore fund distribution and securities investment advisory services. As one
of Taiwan’s early participants in offshore fund distribution, Concord has developed
longstanding relationships with international asset managers, introducing a broad
range of global investment strategies to the Taiwanese market.

The company is part of Concord Securities Group and emphasizes professionalism, 
integrity, long-term relationships and client service in providing investment solutions
to Taiwan’s financial community.

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