CREDA Podcast: Inside CRE

Carey Heyman, CPA and managing principal of the real estate industry at CLA (CliftonLarsonAllen), joins us this time on the NAIOP podcast with guest host Christopher Ware, NAIOP’s Vice President for Business Development and Strategic Initiatives. Carey discusses his background, career journey and insights into the commercial real estate market. He also shares how CLA advises clients on managing cash flow and mitigating risk in their real estate portfolios; tax planning strategies for real estate owners, operators and investors; the potential impact of interest rate cuts; the need for proactive engagement with elected officials regarding potential policy changes; and more. Recorded on Aug. 29, 2024.

Get to know two special guests who lead the Cocoziello Institute of Real Estate Innovation at Penn State. Peter Cocoziello is the founder, president and CEO of Advance Realty Investors, a New Jersey-based real estate development, investment and management company, and the founding chair of the Institute. Scarlett Miller is a professor of industrial engineering and of mechanical engineering in the College of Engineering at Penn State and serves as the Institute’s inaugural director. Peter and Scarlett joined Marc (a proud Penn State alumnus) to discuss how the Institute will work to develop new solutions to improve the built environment, support sustainable development, address rapidly evolving real estate policies and regulations, and more. Recorded on Aug. 15, 2024.

In advance of NAIOP’s largest annual conference, CRE.Converge, Oct. 8-10 at Caesars Palace Las Vegas, hear from two seasoned CRE pros working in the region. Cassie Catania-Hsu, managing director and market leader for Las Vegas, CBRE, and Julie Cleaver, vice chair for NAIOP’s Education committee, discussed the city's unique experience economy; developing in a land-constrained market; the impact of sports and entertainment; trends in the greater Southwest and more. Recorded on July 23, 2024.

Erin McDannald, CEO of Elevated, started working with data centers back in 1998 during the dot-com boom, so she’s seen the sector evolve over decades. She joins podcast guest host Jennifer LeFurgy, Ph.D., NAIOP’s vice president of knowledge and research and executive director of the NAIOP Research Foundation, to share why she believes data centers are a critical piece of infrastructure. With construction spending on data centers up 69% year over year according to the Census Bureau, Erin explains the key demand drivers (not just AI), and how in many ways, data centers are leading the charge in implementing smart energy, preventative maintenance, and developing methods for more efficient cooling. She doesn’t shy away from discussing the challenges inherent with the sector, either: community concerns, the cost of cooling, supply chain issues for critical components and more. Recorded July 2, 2024.

An author, futurist and senior advisor to the Arizona State University Threatcasting Lab, Greg Lindsay guides institutions such as NATO and the United States Secret Service in identifying, disrupting, and mitigating future threats. He joins the podcast with guest host Shaine Anderson, NAIOP’s EVP and COO. Lindsay shares what’s up next for AI and automation – not Skynet or HAL 9000, but software that can act on its own and interface with real world systems. He discusses the massive data center buildout to support AI development, what it means for financial markets, the power grid, and whether intellectual property laws will be able to catch up. The very analog Sears catalog even gets a special shout-out. Recorded on June 11, 2024.

Spencer Levy is global client strategist and senior economic advisor at CBRE, the largest commercial real estate services firm in the world. He studies statistics in his free time, so he was happy to offer his analysis on the ripple effects coming with a new era of deglobalization, share a Tom Petty quote, and discuss two specific opportunities that have come with the recent devaluation of the office sector. With the U.S. presidential election looming, he drove home the point that while global politics matter, the most important issues that CRE pros should be worrying about are the local ones: electrical availability, water availability, the ease of doing business, the cost of property and casualty insurance. Spencer also talks about the uniqueness of data center properties, why he’s bullish on multifamily, and what he learned about the psychology of real estate from horse racing. Recorded on May 22, 2024.

As CEO of Cityview, named the most active multifamily developer in Los Angeles by the Los Angeles Business Journal for the past four years, Sean Burton stays busy. He joins the podcast with our guest host, NAIOP Vice President of Knowledge and Research Jennifer LeFurgy, Ph.D., to share market fundamentals for multifamily development, the buzzy sub-sectors with the biggest momentum, and how Cityview is working to address the extreme housing shortage in L.A. He also explains his personal passion for public service and the thinking behind this bold statement: The current market presents the best multifamily buying opportunity since the Great Recession. Recorded on April 4, 2024.

As managing director and chief U.S. economist at CoStar Group, Christine Cooper, Ph.D., provides insights and analysis of national and regional macroeconomic conditions across the nation. She joined the podcast to share CoStar’s near-term forecast for the industrial sector, discuss the risk factors still out there with the supply chain, and why the Fed’s interest rate cuts haven’t materialized so far this year. Christine predicts that we haven’t seen the end of office delinquencies this cycle, talks about how retail has benefited from “disciplined development,” and explains the critical and often overlooked connection between the housing market and the industrial market. Recorded on March 27, 2024.

Can we stick the “soft landing”? Rebecca Rockey, Deputy Chief Economist and Global Head of Forecasting at Cushman & Wakefield, joins the podcast to catch us up on the current state of the economy with an eye to commercial real estate. She pinpoints the areas of the economy under significant pressure, defines “rolling recession,” and addresses the disconnect between public perception of the economy and what the data demonstrates. The good news? She’s feeling confident about her forecast for this year, which includes an acceleration in the second half of 2024. Recorded on Feb. 21, 2024.

Political commentator and journalist Chris Cillizza spent four years as an editor at large at CNN and regularly appeared as a political analyst on the network’s airwaves. He joins Aquiles Suarez, NAIOP’s senior vice president for government affairs, to talk about the upcoming presidential election, including his predictions for the hot-button issues prioritized by each candidate, the kitchen-table concerns that will drive Americans’ view of the economy, and how journalists can regain the public trust. He even shares a memorable anecdote about a local representative foiled by a golden toilet. Recorded February 13, 2024.