Enjoy this discussion about the industrial real estate market with Dan Wendorf, Executive Managing Director for JLL in Columbus, Ohio. We discuss the attractiveness of Central Ohio as advanced manufacturing continues its surge, with Intel's $20B investment and Honda's $4B investment. Dan shares is knowledge on leasing strategies, selling strategies, and advice for tenants looking for space.
Connect with Dan:
https://www.linkedin.com/in/danwendorf/
https://www.us.jll.com/en/people/dan-wendorf
Takeaways
- Columbus, Ohio is experiencing significant investments in the industrial real estate market, with companies like Intel and Honda making large-scale investments in the area.
- Central Ohio offers a favorable business environment, with its strategic location, pro-business economic policies, and diverse industries attracting companies to invest in the region.
- There are opportunities for smaller investors in the industrial market, particularly in the class B space, where there is a demand for well-located buildings with lower clear heights.
- When advising tenants, it is important to understand their needs and objectives, run a thoughtful process, and consider factors such as timing, negotiations, and the impact of capital markets on lease rates.
- Sellers should be aware of the current market conditions and the potential challenges of selling in a slower market, while also recognizing the continued demand for industrial real estate and the potential for profitable sales.
- Property owners may face challenges in finding the right tenants for their spaces, especially with increased supply in the market, and should consider the timing and strategy for leasing up their properties.
- Brokers and real estate professionals need to adapt to the changing market dynamics, embrace technology and data, and focus on building long-term relationships and providing value to clients.
Chapters
00:00
Introduction
01:15
Background and Expertise
03:31
Investments in Columbus
06:09
Attractiveness of Central Ohio
08:55
Opportunities for Smaller Investors
09:16
Tenant Advisory
11:29
Value Add Opportunities
13:55
Leasing Up Space
16:38
Lease Rates and Negotiations
19:26
Timing and Strategy for Tenants
24:06
Advising Sellers
26:46
Leasing Up Space for Owners
29:00
Challenges for Property Owners
31:05
Challenges for Brokers
34:08
Contact Information
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podcast@thesourcecre.com
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*Some or all of the show notes may have been generated using AI tools.
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