Industrial Advisors - Video Edition

Hosts Bill Condon and Matt McGregor discuss observations and predictions about the office market's state post-pandemic. They express confidence in the market's return, noting an increased frequency of people in offices on Tuesdays to Thursdays, while remote work seems to be more common on Mondays and Fridays. They also mention specific office deals and market vacancy rates, highlighting recent improvements despite higher vacancy rates. They predict a likely surge in the office market sooner than expected as people return to offices and contribute to downtown commerce. The hosts also discuss the residual effect this return has on the boost of the retail sector, particularly restaurants suffering from the pandemic.

00:35 Introduction and Welcome

00:39 Discussion on Office Market

01:04 Observations on Office Attendance

02:13 Impact on Leasing Market

02:48 Predictions for Office Market Recovery

03:53 Impact on Retail Sector

04:26 Potential Investment Opportunities

05:17 Effects on Restaurants and Local Businesses

05:56 Conclusion and Wrap-up

In this Industrial Advisors episode, Bill Condon and Matt McGregor delve deep into the latest market trends within the industrial market. Discussions include the pull back of products in the capital markets, the decrease in building values and the downfall of land values. They also highlight areas like South Seattle and their rise in tech and EV activity. Additionally, they explore challenges associated with the construction debt. The conversation sheds light on the role of companies like Amazon and Boeing in impacting industrial leasing and absorption rates, focusing on the current state and potential future of the industrial market.

00:37 Introduction and Welcome

00:44 Discussion on Market Impact and Product Pulling

01:36 Analysis of Pricing and Buyer Expectations

02:17 Impact of Pricing on Market Dynamics

04:10 Exploring the Downfall of Land Values

05:36 Insights on Market Trends and Subleasing

06:51 The Soft Spot in the Market: 100 to 200,000 Square Foot Range

07:59 Discussion on Southern Industrial Market Trends

09:57 Challenges and Trends in South Seattle Market

12:28 Boeing's Impact on the Market

13:32 Amazon's Potential Return to the Market

14:08 Challenges in Construction Financing

14:57 Conclusion and Farewell

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 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, 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, Bill Condon and Matt McGregor sit down with Clark Krause, the Executive Director of Boise Valley Economic Partnership, on location in Boise, Idaho. As they enjoy the vibrant atmosphere of the IAMC conference, Clark shares his insights into the dynamic growth of the Boise area over his 13-year tenure. The conversation delves into Boise's status as one of the fastest-growing metros, its remarkable workforce, and the fascinating history of homegrown companies that have thrived in the region. Discover what makes Boise such a fantastic place for businesses and employees alike, and why this Idaho gem is more than just a great destination during the pandemic.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:05- Introduction to Boise and Its Economy

00:01:50- Population Boom

00:03:08: Introduction to Boise and Its Economy

00:04:08: Introduction to Boise and Its Economy

00:04:29: Reflection on Boise and the Conference