About Millie & Severson:

Operating for over 81 years, Millie & Severson is a premier, employee-owned (ESOP) general contractor in California and Nevada. Known for their "big projects, no egos" culture, they are a dominant force in industrial tilt-up construction, partnering with global giants like Amazon, Prologis, Trammell Crow, and Brookfield.

Timestamps:

0:00 - Introduction: The Industrial Tipping Point

02:15 - Entitlement Risk & AB 98: When Land Value Goes to Zero

05:40 - Sluggish 2025 vs. The 2026 Surge in Construction Starts

08:12 - Volatility in the Trades: Steel, Rebar, & Panelized Roof Pricing

11:30 - How Data Centers are Driving Up Steel Lead Times

14:50 - Geopolitics, Gas Prices, and the Macro Impact on Budgets

18:25 - The History & Unique Culture of Millie & Severson (The Power of an ESOP)

22:40 - The Real Numbers: Approximate Hard Costs per SF Today

26:15 - The Evolution of Unions in California Tilt-Up Construction

31:10 - Project Spotlight: Core5’s 1M SF Facility in Menifee

35:45 - Advice to Hungry Brokers: How to Correctly Underwrite Land Value

Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate.
Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform.
Follow on Instagram and TikTok @AddingValueShyAssar

#CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics