The Fort #371 - Jack Fraker - President, Global Head of Industrial & Logistics @ Newmark - Macro Overview of Industrial Real Estate
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Nov 19, 2024 Jack Fraker, President and Global Head of Industrial & Logistics at Newmark, shares his extensive experience in industrial real estate. He discusses the current global landscape and trends in development, leasing, and sales. The conversation highlights how rising interest rates impact U.S. industrial markets and the increasing demand for warehouse space driven by e-commerce. Fraker also explores the future of industrial real estate in Texas and Mexico, along with challenges faced during tenant relocations due to local opposition.
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Nokia's Expansion
- Jack Fraker cold-called Nokia when he noticed their busy distribution center in Fort Worth.
- This led to a series of deals, expanding from warehousing to manufacturing, headquarters, and eventually across the Western Hemisphere.
Early Industrial Investment Sales
- Jack Fraker learned about industrial investment sales from a deal involving Prudential.
- He then secured deals with LaSalle Partners and AEW by demonstrating in-depth knowledge of industrial properties.
Industrial's Global Rise
- Industrial real estate, known as logistics globally, has become a favored asset class.
- This is due to the potential for large portfolio deals and the sector's resilience, amplified by the rise of e-commerce.