Industrial Advisors

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor are joined by special guest Kyle Back to discuss the rising trends and challenges within the industrial outdoor storage (IOS) sector. The group talks about the increasing interest from funds, the attractiveness these sites hold due to low maintenance costs, and strategies to boost revenue, such as dividing the storage space to accommodate multiple small tenants. However, the group also mentions that demand has been somewhat overstated and certain IOS sites that don't have future development potential or are of awkward dimensions have been sitting vacant. They conclude that well invested sites, with paving, fencing, and lighting, tend to do well and attract good credit groups.

00:35 Introduction and Welcome

00:41 Understanding Industrial Outdoor Storage (IOS)

01:27 The Attraction of IOS Sites

01:59 The Reality of Demand for IOS Sites

02:09 Investor Interest in IOS Sites

04:04 Challenges and Opportunities with IOS Sites

04:44 Ongoing Costs and Management of IOS Sites

06:22 The Success of Well-Developed IOS Sites

07:03 Conclusion and Future Tracking of IOS

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss significant factors that influenced the industrial market in 2023 and make predictions for 2024. They noticed an increasing vacancy rate in the 100 to 200 thousand square feet range, with Kent Valley and North End being the only two submarkets with positive absorption. A notable point was the decline in the number of industrial land sales in 2023. They predict a slower start for investment volume in 2024 but expect a substantial increase in the second half of the year.

00:02 Introduction and Welcome

00:37 2023 in Review: Predictions and Reflections

01:18 Market Analysis: Inventory and Vacancy

03:25 Market Analysis: Absorption and Submarkets

05:17 Market Analysis: South Seattle

10:20 Market Analysis: Kent Valley and Auburn

12:42 Market Analysis: Land Sales and Investment Volume

15:17 Predictions for 2024

In this Industrial Advisors podcast, hosts Bill Condon and Matt McGregor engage in an insightful discussion with their guest Craig Hurvitz, the National Director of Industrial Research at Collier's. The discourse revolves around the state of the industrial market in 2023, which despite fears of recession and a crumbling capital market has remained strong. There is a decrease in overall demand from the soaring figures of 2021 and 2022, but it's in line with the performances of 2017-2019. A disproportionate amount of supply in the market is creating an imbalance, contributing to increases in vacancy rates. Craig also highlights new emerging trends, predicting a 'reset' of the industrial market by the end of 2024. Dallas and Phoenix, among others, show promising signs of growth, and subleasing has seen a slight uptick but remains within historical averages. The conversation offers in-depth perspectives and predictions on the industrial market scenario.

00:35 Introduction and Guest Introduction

01:05 Discussion on Industrial Market Trends in 2023

02:12 Understanding Net Absorption and Supply-Demand Balance

05:00 Top Performing Industrial Markets in the U.S.

06:12 Emerging Trends in the Industrial Market

08:04 Discussion on Industrial Lease Rates and Escalations

09:16 Insights into the Industrial Capital Market

10:27 Predictions for the Industrial Market in 2024

11:27 Investment Opportunities in the Industrial Market

13:23 Trends in Subleasing in the Industrial Market

14:40 Conclusion and Guest Farewell

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the controversy around Florida State being left out of the college football playoffs, arguing about the fairness of selection criteria and pointing out the impact of team performance. In their predictions for the upcoming playoffs, both agree that Alabama will beat Michigan and predict a challenging match between Washington and Texas. The two diverge in their final predictions, with McGregor believing in Washington's victory, while Condon forecasts Alabama as the champion.

00:40 Topic Introduction: College Football Playoffs

00:43 Debate: Florida State's Exclusion from the Final Four

01:54 Predictions: Matchup Analysis and Outcomes

03:31 Final Predictions: Championship Game

04:25 Conclusion and Final Thoughts

The Industrial Advisor podcast hosts, Bill Condon and Matt McGregor, welcome guest Dan Doherty from Colliers to discuss the industrial real estate market in Las Vegas. Doherty reflects on his background and the history of the Las Vegas market. They discuss the significant growth in the market over the past years, which has resulted in high levels of demand and unprecedented investment from institutions. The market expects an influx of 16 million square feet of industrial space over the next four quarters, which is likely to raise the vacancy rate and create opportunities for tenants seeking expansion. They also touch on the potential influence of the sports entertainment sector. Finally, Doherty provides his predictions for the market heading into 2024.

Dan Doherty, SIOR | [email protected] | Direct: +1 702 836 3707 | Mobile: +1 702 809 1000

Key Moments:

00:35 Guest Introduction: Dan Doherty

02:12 Dan's Journey to Las Vegas

02:36 Impact of Mafia in Las Vegas

05:57 Water Crisis in Las Vegas

09:08 Industrial Market Dynamics in Las Vegas

10:42 Future Supply and Demand in Vegas Market

21:37 Impact of Sports and Entertainment on Vegas Market

23:54 Raising a Family in Vegas

26:05 Predictions for the Vegas Market

27:39 Closing Remarks

In this episode, Matt and Bill discuss the evolving and increasingly crucial role of brokers in lease negotiations. They reflect on how their services have matured from being novices afraid of leases to active participants who understand the negotiation process. They emphasized the importance of being proactive, understanding market conditions, and speeding up lease negotiations to avert deal fatigue. They advised new brokers to participate in calls, even when new, to learn the nuances of the leasing process, and to continually educate themselves through leasing classes with attorneys.

00:35 Introduction and Welcome

00:40 The Evolution of a Broker's Role in Lease Negotiations

00:48 The Importance of Understanding Leases

01:21 The Role of Attorneys in Lease Negotiations

01:46 The Complexity of Modern Leases

02:16 The Importance of Brokers in Lease Negotiations

03:16 The Broker's Role in Writing Legal Language

05:32 The Importance of Speed in Lease Negotiations

06:04 Advice for Young Brokers

06:52 The Importance of Education in Lease Negotiations

07:13 Conclusion and Book Promotion

In this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor welcome guest Ty Morris, a principal at Pure Development. Ty talks about his personal life, moves in Boise, and the success of his firm which has grown from 4 to 30 plus members in five and a half years. He discusses the importance of diverse hiring and the benefits of employing people from outside of the industry. The conversation shifts to Pure Development's well-diversified business model which includes their industrial build to suit, spec arm, and urban adaptive reuse mixed-use component. Ty then shares his views on current trends and opportunities in the industrial sector, highlighting the value add, net lease buying, and manufacturing areas.

Concluding the episode, Ty predicts a bigger economic slowdown beginning in 2023 and discusses challenges on the real estate side.

00:035 Introduction and Welcoming Guest

01:09 Getting to Know Ty Morris

02:03 Discussing Pure Development and Industry Trends

04:30 Insights on the Build-to-Suit Platform

05:38 Exploring Opportunities in the Industrial Sector

19:26 Predictions for the Industrial Sector in 2024

24:17 Sports Talk and Wrapping Up

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor delve into the fascinating evolution of the big box market in the Puget Sound region. Over the years, the definition of "big box" has transformed, and they discuss how it has changed, especially in the wake of the COVID-19 pandemic. They reflect on the pre-COVID perception of big boxes being 150,000 square feet and above, but how the market dynamics have shifted since. Bill and Matt analyze the current state of the big box market, revealing the significant demand for spaces exceeding 500,000 square feet and beyond. They share insights on the limited availability in this segment and discuss the growing trend of large tenants looking for substantial space well into the future. With a focus on the Puget Sound market's resiliency, they highlight the strength of the big box market, even in comparison to other West Coast markets. Don't miss this episode if you're interested in understanding the changing landscape of the big box market in the Puget Sound region and its promising outlook as they head into 2024.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:05 – Defining the Big Box Market

00:02:28- Demand for Large Spaces

00:03:43- Recent Deals

00:05:19- Book Promotion

Welcome to our Industrial Advisors podcast, coming to you from Boise, Idaho, at the IAMC conference. In this episode, we sit down with Brandon Page, Vice President and Head of Leasing at Link, which owns over 500 million square feet of industrial space across the country. We discuss the state of the industrial real estate market in 2023, the changing dynamics of leasing, and the challenges in the capital markets. Brandon provides insights into the trends he's observing in the 3PL world and shares his predictions for the remainder of 2023 and what the future may hold for the industrial sector in 2024. Join us for a deep dive into the world of industrial real estate and gain valuable insights from an industry expert.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:57 – Leasing Velocity in 2023

00:03:20- Trends with Occupiers in 2023

00:04:26- Acquisitions and Preferred Markets

00:07:44- 3PL discussion

00:09:01- Predictions for the remainder of 2023 and the outlook for 2024

00:13:26- Wrapping Up

In this episode of the Industrial Advisors Podcast, we go live from the IAMC conference in Boise, Idaho. Our special guest, Marcus Rose, Corporate Real Estate Manager at NFI, shares insights into managing over 180 locations and 33 million square feet of product. We dive into his experiences, from starting with tandem skydiving to becoming a licensed skydiver. Marcus also discusses his outdoor hobbies and the unexpected joys of Boise, a booming city since the pandemic. Join us as we explore the benefits of IAMC, its corporate-only sessions, and the valuable education and networking opportunities it offers to professionals in corporate real estate. Discover the unique perspectives and experiences of attendees at this conference as they share their insights and enjoy the week in Boise.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:13- Marcus's Hobbies and Interests

00:03:25- IAMC Involvement

00:04:54: Values of education

00:06:48: Corporate Only Sessions

00:09:35: Plans for the conference

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