The Industrial Real Estate Podcast

Pleased to be joined by Matt Carroll once again as we co-hosted a part II interview with Dr. Jim Tompkins.

We chatted about a number of fascinating topics:

0:00 - Introduction

1:05 - What's going on in Supply Chains?

10:28 - Can Mexico Fix Supply Chain Snarls?

14:53 - Government Hard at work

17:05 - Onshoring trends

22:25 - Optionality, China plus One, ABC

27:53 - An economic war with China

32:39 - Will Companies leave China?

36:40 - How to stay on top of developing trends

43:20 - Areas of Growth

About Jim:

Jim Tompkins is an international authority on designing and implementing end-to-end supply chains. He is a serial entrepreneur who has started several businesses; worked with private equity; designed many industrial facilities and automated materials handling systems; implemented many supply chain information technology solutions and worked to enhance the performance of many 3PLs and 3PL clients.

Connect with Jim:

Tompkins Ventures website: https://tompkinsventures.com/

LinkedIn: / jimtompkins1

About Matt:

Driven leader with fifteen years of international business experience in Logistics and Supply Chain. I am multilingual, speak fluently in Spanish and German, while having an in-depth understanding of the complex dynamics of supply chain management, contract negotiations and thought leadership after spending more than a decade managing operations in China, Europe, Australia, Canada, and the USA. My understanding of global business environments, monetary impacts, and rules of engagement for real estate integration for successful business results, benefit the clients I work with.

Connect with Matt on LinkedIn: / matthewcarroll1

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This week I was joined by one of my favorite past guests, Jeremy Mercer, CEO of Matador Capital, for an in depth chat about industrial real estate.

0:00 - Introduction

3:15 - Where are you finding deals?

9:48 - PTSD

11:23 - Strategy for Vacant Spaces

13:02 - IOS

15:50 - Tenant demand

19:28 - What do Big Box Owners do now?

26:30 - Differentiating sub-categories of industrial

29:56 - Charging on buildings vs land

31:14 - Site Coverage Ratios

40:23: What Tenants Rent IOS?

44:33 - Office looks scary

50:09 - What questions did I miss?

About Jeremy:

Jeremy entered the commercial real estate market in July of 2004 with the acquisition of his first commercial investment property. Since then he has managed over 210,000 square feet within the Trinity and Brookhollow submarkets. Jeremy joined the Mercer Company in October of 2010 with a focus on the Brookhollow, Trinity, and Love Field submarkets.

Prior to joining Mercer Company, Jeremy is a passive business owner, property owner, and active in property management. Jeremy owns two successful businesses located within his submarkets. Pro Rehearsal studios is a tenant based business that provides monthly space to bands for rehearsal needs. Pro Rehearsal has 2 locations and occupies 40,000 square feet and averages an occupancy rate of 92%. Mercer Metals is a steel distributor and value added processor of stainless, aluminum, carbon, and alloy in tubing, pipe, bar, sheet and plates. Mercer Metals has experienced substantial growth throughout this tough economy.

Jeremy understands the process that business owners face from moving a facility to opening a new location through real life experience. Jeremy also understands the situations that owners face and through his experience as a commercial property manager, he has lived the process of evaluating tenants, managing the long term care of a property, and the negotiation and management of numerous finish out projects with contractors. It is this experience that helps Jeremy serves his clients in all aspects of a transaction.

Connect with Jeremy:

LinkedIn: https://www.linkedin.com/in/jeremy-mercer-a3154358

YouTube: https://www.youtube.com/@jbmatcap

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I was honored to be joined by Adrian Ponsen, Director of U.S. Industrial Analytics for Costar, for an in depth discussion about the current industrial real estate market.

We chatted about a number of topics as follows:

0:00 - Introduction

0:49 - Background on CoStar

2:52 - How Adrian got into research

7:49 - State of the current market

20:15 - Outlook for the rest of 2024 and 2025

32:15 - Interesting markets to follow

46:38 - What Adrian is watching for the rest of 2024

About Adrian:

Adrian Ponsen is the National Director for Industrial Market Analytics at CoStar. He has 15 years of experience at CoStar using innovative commercial real estate market research to help investors formulate strategies, raise funds, and close deals. In addition to being a regular contributor to CoStar News, his research has been published by a range of media platforms including Bloomberg, CBS and the Harvard Business Review.

Connect with Adrian:

LinkedIn: https://www.linkedin.com/in/adrian-ponsen-381129b

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This week I had the opportunity to interview Phil Copulsky, Director of Private Capital for Westmount Realty Capital.

We chatted about industrial real estate with timestamps as follows:

0:00 - Introduction

2:15 - Why industrial real estate

7:22 - What questions come up regularly

12:18 - Who leases industrial spaces?

17:18 - Average tenant profile

19:18 - Identifying markets

30:35 - Downside risk

35:55 - Class B forecast

40:23 - Identifying buildings

43:42 - What do tenants want?

49:39 - What questions should people be asking?

About Phil:

Before he committed to real estate investing, Phil Copulsky, CFA was a competitive chess player and college basketball player, both instilling the necessary discipline to read like Buffett, focus on developing long-term relationships, and follow the lead of great mentors.

Phil is current a Director, Private Capital at Westmount Realty Capital, LLC, where he supports new equity capital raising initiatives and individual deal fundraising campaigns. He has over 10 years of experience in financial services, starting his career at Goldman Sachs. He has degrees from Hobart and Williams Smith Colleges and the University of Texas at Austin and is a CFA charterholder.

Connect with Phil:

LinkedIn: https://www.linkedin.com/in/phil-copulsky-cfa

Website: https://westmountrc.com/

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🙋‍♂️ Chad Griffiths, MBA, SIOR

My most popular podcast episode was with the UK's Most Hated Sales Trainer, Benjamin Dennehy.

So naturally I had to have him back for a second episode!

We chatted about all types of important topics, including how to get over call reluctance, what to say during the call, and what the objective of a good call should be.

Here's episode 1 if you missed it: https://youtube.com/live/W77G6nIywE0?feature=share

Learn more: https://salesmatrixcourses.com/

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In this week's episode I was joined by my good friend Matt Carroll as we interviewed Dr. Jim Tompkins, one of the world's foremost experts in supply chain management.

Timestamps:

0:00 - Introduction

1:45 - Jim's background

23:20 - Early warehouse designs

29:56 - The importance of Optionality

36:24 - How warehouses have evolved

43:26 - Dark warehouses in the future?

47:32 - What happens with older industrial buildings?

51:50 - Where is all the power going to come from?

1:02:00 - Other major challenges in the industry

1:05:03 - Timing on reshoring / onshoring

1:09:43 - Why is there so much tension with China?

About Jim:

Jim Tompkins is an international authority on designing and implementing end-to-end supply chains. He is a serial entrepreneur who has started several businesses; worked with private equity; designed many industrial facilities and automated materials handling systems; implemented many supply chain information technology solutions and worked to enhance the performance of many 3PLs and 3PL clients.

Jim was the founder and Chairman of Tompkins International, for over 40 years and he focused on helping companies achieve profitable growth, giving him an insider’s view into what makes great companies even better. In 2020 Jim founded Tompkins Ventures, LLC, a firm that helps executive teams address five big problems: entrepreneurial growth, development prosperity, logistics partnerships, technology and leadership.

Jim received the prestigious Frank and Lillian Gilbreth Industrial Engineering Award from the Institute of Industrial and Systems Engineers (IISE) on June 1, 2015. The award is a tribute that recognizes Dr. Tompkins through the contributions he has provided to the welfare of mankind in the field of industrial and systems engineering. In addition, Jim has served as President of the IISE, the Materials Management Society and the College-Industry Council on Material Handling Education and has been named a Distinguished Engineering Alum by Purdue University. He has also received more than 50 additional awards for his service to his profession.

Connect with Jim:

Tomkins Ventures website: https://tompkinsventures.com/

LinkedIn: https://www.linkedin.com/in/jimtompkins1/

About Matt:

Driven leader with fifteen years of international business experience in Logistics and Supply Chain. I am multilingual, speak fluently in Spanish and German, while having an in-depth understanding of the complex dynamics of supply chain management, contract negotiations and thought leadership after spending more than a decade managing operations in China, Europe, Australia, Canada, and the USA. My understanding of global business environments, monetary impacts, and rules of engagement for real estate integration for successful business results, benefit the clients I work with.

I am a graduate of Purdue University, where I played NCAA basketball. I was a 4-time Academic All-Big Ten honoree, the recipient of the Distinguished Scholar-Athlete award for outstanding academic achievements, and the Ward Lambert academic award. My traits of working well with a team, focusing on a positive result, and coordinating critical processes to ensure success, are my calling card for new client opportunities and servicing of my extensive existing base of relationships.

Connect with Matt on LinkedIn: https://www.linkedin.com/in/matthewcarroll1/

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Pleased to be joined by Doug Kiersey for part II of our discussion about industrial real estate.

We jumped deeper into the current state of the market and discussed investor appetite, market values, trends and even made a few predictions!

Here's part 1 if you missed it: • A Deep Dive into Industrial Real Esta...

About:

Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company’s operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company’s Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion.

Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years.

Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR).

Dermody Properties website: https://dermody.com/

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This week I had the honor of being joined by Douglas Kiersey, CEO & President of Dermody Properties.

We had a fascinating chat about the industrial real estate market and Doug shared many great insights that he's gained from purchasing and developing over $8B worth of warehouses and distribution centers.

About:

Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company’s operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company’s Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion.

Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years.

Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR).

Dermody Properties website: https://dermody.com/

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I had the honor of interviewing Aaron Halfacre, CEO of Modiv Industrial, where we got to chat about the manufacturing side of industrial real estate!

0:00 - Introduction

1:17 - A REIT focused on manufacturing space

5:01 - Manufacturing vs warehousing

11:35 - Breaking down manufacturing

17:47 - What an opportunity looks like

25:40 - Building vs Tenant

31:02 - Getting in touch with Aaron

About Aaron:

As Modiv’s Chief Executive Officer, Mr. Halfacre is charged with crafting company-wide strategy, expanding our investor base and identifying opportunities for business growth. With his long track record of effective leadership and institutional-grade investing, he has sparked a new vision and direction for Modiv that prioritizes responsible stewardship, innovation and purposeful growth that drives value for our shareholders.

A seasoned executive with over 25 years in the real estate industry, Mr. Halfacre has been involved in myriad REIT mergers and acquisitions transactions over the course of his career, totaling more than $17 billion in transaction value. His previously held positions include President at RealtyMogul, President and CIO of Campus Crest, and senior leadership roles at Cole Real Estate Investments, BlackRock and Green Street Advisors. Mr. Halfacre holds both Chartered Financial Analyst® (CFA) and Chartered Alternative Investment Analyst® (CAIA) designations and earned a Masters of Business Administration degree in Finance from Rice University.

Connect with Aaron:

Modiv Industrial: https://modiv.com/

LinkedIn:

/ aaron-halfacre

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I had the pleasure of talking with Ronald Rohde about a recent acquisition of his where he purchased an industrial outdoor storage site.

About Ron:

Ron Rohde is an experienced investor, commercial real estate attorney and a Texan with a long history in north Texas real estate.

As soon as he had a driver’s license, he was delivering keys to tenants, supervising contractors, or delivering notarized closing documents for a variety of rental properties.

With both parents as licensed real estate brokers and mortgage lenders, it was a natural evolution to advise clients on real estate transactions.

Ron learned Mandarin Chinese growing up and has fully fluent staff who read and write Chinese.

Connect with Ron:

Website: https://ronaldrohdelaw.com/

YouTube: @RonaldRohdeLaw

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