Industrial Advisors

Q3 Real Estate Market Review: Insights and Predictions

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the state of the real estate market in Q3. They analyze current vacancy rates, comparing them to historical data from 2008-2010 and explore why the market feels different today despite similar vacancy numbers. Key themes include an increase in lease renewals, higher credit risks, and a notable number of bankruptcies among smaller Third-Party Logistics (3PL) providers. The hosts highlight the improvement in the South Seattle market, rising investment sales, and the ongoing challenges in the Kent Valley. They predict a recovery in Q4 driven by potential big deals and emphasize that the Puget Sound region remains one of the strongest markets nationally. Additionally, they touch upon the optimistic outlook for the local sports teams, with the Mariners entering the playoffs and the Seahawks performing well.

00:00 Market Resilience and Recovery

00:41 Introduction to the Podcast

00:46 Q3 Market Review

00:54 Comparing Past and Present Market Conditions

03:58 Current Market Themes

06:54 Vacancy Rates and Submarket Analysis

11:08 Investment Sales Overview

14:15 Closing & World Series Predictions

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the importance of having a think tank—a dedicated time and space for clear and strategic thinking. They share their personal methods such as Bill's daily morning runs and Matt's sauna sessions, cold plunges, and conferences. Both hosts agree on the benefits of using times like plane rides and vacations to unplug and brainstorm new ideas. They emphasize the importance of stepping away from daily routines to gain clarity and develop strategies, offering insights into their unique routines and experiences.

00:00 Introduction and Morning Routine

00:30 Welcome to the Podcast

00:35 Think Tank: Generating Ideas

00:51 Personal Strategies for Clarity

01:21 Conferences and Travel Insights

01:48 Running and Unexpected Encounters

02:57 Final Thoughts and Vacation Clarity

03:27 Conclusion and Happy Friday

Industry Titans Discuss Success Strategies and The Evolution of Commercial Real Estate

In this episode of Industrial Advisors, hosts Matt McGregor and Bill Condon welcome renowned guests Rod Santomassimo from the Massimo Group and Bob Knakal, celebrated as one of the top brokers globally. They delve into their new book 'Selling Buildings,' which merges memoirs and tactical guidance for real estate professionals. The discussion emphasizes the importance of conviction, passion, and discipline in real estate success, along with the potential impact of AI on the industry. Both guests share their future aspirations, with Knakal focusing on mentorship and company growth, while Santomassimo prepares for a groundbreaking virtual summit in commercial real estate.

00:00 Introduction and Achievements

00:34 Meet the Guests: Rod Santomassimo and Bob Knakal

01:29 The Story Behind 'Selling Buildings'

03:46 Luck vs. Discipline in Brokerage

06:03 Balancing Passion and Discipline

11:26 Advice for Brokers: Conviction and Expertise

17:10 The Role of Technology in CRE

18:58 What's Next for Rod and Bob?

22:11 Closing Remarks and Book Promotion

In this Five Minute Friday episode, Bill Condon and Matt McGregor discuss their most memorable deals in their brokerage careers. Bill recounts a high-stakes sale involving 500,000 feet of warehouse space for storing high-end toys, which faced a last-minute hurdle with the fire department. Matt shares his experience from his first year in the business, involving a significant build-to-suit project for Pacific Crest Cabinets. Both highlight the importance of forming lasting relationships with clients beyond the deals themselves.

00:00 Introduction and Impressive Sales Achievement

00:42 Welcome to Five Minute Friday

00:55 Bill's Most Memorable Deal

03:10 Matt's Most Memorable Deal

05:23 Conclusion and Reflections

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor are joined by Justin Carlucci, partner at Bridge Industrial. Justin shares insights from his impressive career in industrial development, discussing major projects across Washington State, current market trends, and the unique challenges facing developers today. The conversation covers everything from site selection and project highlights to regulatory hurdles and the future outlook for industrial real estate in the region.

00:00 Introduction and Welcome

00:34 Guest Introduction: Justin Carlucci of Bridge Industrial

01:00 Early Career Stories and Memorable Deals

02:41 Current Projects and Market Overview

04:20 Unique Aspects of Recent Developments

07:00 Site Selection and Acquisition Strategy

09:00 Ideal Building Sizes and Market Demand

11:00 Challenges in Development: Financing and Regulation

14:00 The Impact of New Energy Codes

16:00 Market Outlook for 2026-2027

18:00 Favorite Projects and Lessons Learned

22:00 Closing Thoughts and Reflections

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss whether playing golf is essential for success in the brokerage business. They share personal anecdotes about their limited golfing experience and argue that while golf can be a useful tool for building relationships, it is not necessary for closing deals. They caution against over-relying on golf, stating that some brokers might use it as an excuse for not being productive. The episode emphasizes that relationship-building is key, with golf being just one of many possible avenues.

00:00 Introduction: Business on the Golf Course

00:28 Welcome to Industrial Advisors Podcast

00:33 Is Golf Important for Brokers?

00:55 Personal Golf Stories

02:13 The Role of Golf in Building Relationships

03:34 Conclusion and Final Thoughts

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by Mike Kendall, who heads the Industrial West Coast investment team. The discussion centers around the state of the industrial real estate market in the first half of 2025, highlighting trends, regional variations, and investment strategies. Key insights include the observation that the risk pendulum is currently skewed, making it a potentially good time to buy for strategic investors. Market activity, influenced by factors like tariffs and tenant demand, shows varying strengths across regions like Phoenix, the Inland Empire, and Seattle. The conversation also covers cap rates, aggressive buyers, and the challenges developers face in raising equity for speculative projects. The episode concludes with predictions for the second half of 2025, suggesting a modest uptick in transaction volume driven by certain types of deals, with a more significant increase expected in early 2026.

00:00 Introduction to the Risk Pendulum

00:37 Welcome and Guest Introduction

01:07 Market Activity and Trends in 2025

02:02 Investment Strategies and Deal Dynamics

03:54 Challenges in Land Sales and Equity Raises

05:45 Regional Market Analysis

08:27 Demand Shifts and Investment Profiles

11:10 Aggressive Buyers and Market Predictions

14:31 Cap Rates and Market Performance

16:16 Conclusion and Farewell

In this episode of the Industrial Advisors podcast, hosts Bill Conde and Matt McGregor discuss the pros and cons of entering the brokerage industry straight out of college versus transitioning from another career. With their own children graduating soon, they reflect on their different paths to success in the field. Bill and Matt agree that there's no right or wrong way to enter the industry, emphasizing that both fresh graduates and career changers can succeed with the right mindset and determination. They stress the importance of having realistic expectations, a willingness to learn, and the endurance to overcome initial challenges. The episode concludes with congratulations to new graduates and encouragement to those considering a career in commercial real estate.

00:00 Introduction to the Podcast

00:47 Hosts' Personal Connections to the Topic

01:16 Pros and Cons of Entering Brokerage Right Out of College

01:57 Challenges for Young Brokers

02:41 Advantages of Starting Young

04:08 Building Relationships in the Industry

05:25 Final Thoughts and Congratulations to Graduates

You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com Should You Start Brokerage Right Out of College?

In this episode of the Industrial Advisors podcast, recorded live at IAMC in Sacramento, Matt McGregor and Bill Condon welcome Didi Caldwell, CEO of Global Location Strategies. Didi discusses the ongoing reindustrialization trend and the evolving process of site selection, highlighting the advancements in technology and data analytics. She explains her company's role in optimizing location strategies for manufacturing and other projects, touching on the challenges of labor availability and power infrastructure. Didi also introduces Strata Platforms, a software solution developed to streamline the site selection process. The conversation provides insights into current industry trends, including the rise in manufacturing projects and the significant power demands of modern industries.

00:41 Welcome to the Industrial Advisors Podcast

00:46 Meet Didi Caldwell: CEO of Global Location Strategies

02:39 The Evolution of Site Selection

04:24 Challenges and Innovations in Site Selection

04:52 Introducing Strata Platforms

06:37 Data and Technology in Site Selection

09:07 Labor Availability and Site Selection

15:44 Future Trends in Site Selection

18:12 Power Generation and Infrastructure Challenges

20:50 Conclusion and Final Thoughts

You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor talk with Deb Szima, MBA and former VP of Real Estate, Construction, and Facilities at SRS Distribution. Deb shares her journey of transforming and centralizing the corporate real estate function at SRS amid its rapid growth through acquisitions. The conversation delves into the important interplay between lease administration, transactions, facilities, and construction, and the challenges of managing real estate in a fast-evolving industrial market. Deb discusses her initial focus areas, including restructuring broker relationships and addressing fire suppression concerns, and highlights the complexities of scaling a real estate team within a dynamic organizational culture.

00:00 Introduction to Lease Administration and Real Estate Growth

00:44 Welcome to the Industrial Advisors Podcast

01:06 Deb Szima's Background and SRS Distribution Overview

03:36 Challenges and Strategies in Real Estate Management

06:30 Navigating Industrial Real Estate Market Changes

09:29 Building a Corporate Real Estate Strategy

17:37 Conclusion and Final Thoughts

You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com