The Industrial Real Estate Podcast

Welcome To The Industrial Real Estate Show. Chad sits down with Professor Tim Minshall, author of How Things Are Made. We dig into why manufacturing knowledge disappeared from public view, the “illusion of explanatory depth,” and how a simple roll of toilet paper reveals global supply chains, energy, water, and decades of process know-how. We also tackle reshoring, industrial commons, and what governments and companies can realistically do over the next 5–10 years.Discussion Topics: How Manufacturing Drives Industrial Real EstateReshoring and the Return of Making Things LocallySupply Chain Resilience vs. Efficiency-- Connect with Tim Minshall Connect on X Buy the BookConnect with Chad More From The Industrial Real Estate Show Subscribe to the NEW Youtube Page

Welcome to The Industrial Real Estate Show. In this episode, Chad sits down with David Hansel, Managing Partner at Lucern Capital, to unpack how his team pivoted from multifamily into multi-tenant industrial. They dig into buy boxes, tenant mix, capital stacks, interest-rate impacts, and what’s next through 2026—plus practical tips for sourcing deals and competing with bigger players by staying scrappy.Discussion Topics: Why small/mid-bay industrial can feel like multifamily—without the labor dragThe playbook for environmental insurance (what it covers, cost, timing, real claims)Buy box specifics: size, locations, construction quality, tenant profilesReal-world capital stacks (60–70% debt; using pref equity selectively)2025–26 market outlook: lease duration, downsizing tailwinds, competitionGuestDavid Hansel — Managing Partner, Lucerne Capital🔗 Website🔗 LinkedInHostChad Griffiths — The Industrial State Show🔗⁠ NEW Youtube🔗 Connection Links#industrialrealestate #cre #SmallBayindustrial #NNN #LucerneCapital #ChadGriffiths #DeRisking #EnvironmentalInsurance #EastCoastCRE

Chad Griffiths & author Cody Payne unpack the entire flex/small-bay industrial playbook—from what “flex” actually means, to development models and costs, leasing strategy, underwriting, and the real risks to watch. If you’re eyeing contractor garages, incubator space, showroom-style flex, or multi-tenant “multifamily of industrial,” this episode is your field guide.Key Takeaways​“Flex” is today’s label for small/shallow-bay multi-tenant industrial—think 1,000–5,000 SF bays with ~10% office.​Development models range from bare-bones metal to showroom and premium; costs scale fast with glass, height, finishes, yards, mezz.​Showroom models (18–20’ clear, strong frontage) often drive rent growth and resale value--ConnectCody PayneLinkedinCody's BookCheck our NEW Industrial Real Estate Show Merch Store! Linktree

I had the pleasure of being joined by Henry Eisenstein, a successful broker, investor and prospecting genius.We explored a number of topics, including why brokers and investors should cold call, what to say during the call, and how to maximize your chances for success. 0:00 - Introduction0:49 - Why cold call?2:46 - Who can cold call?5:46 - Getting better at prospecting7:35 - Salary vs commission11:32 - Henry's script16:21 - Follow up22:43 - Integrating tech26:42 - Getting over call reluctance32:18 - Henry's YouTube channelAbout Henry:Over the last 5 years, Henry's life has exploded in every fashion. Now at 29, Henry has been a part of over $500 Million in real estate transactions, owns several investment properties, and travels the world while selling over $100 million a year personally. His life wasn't always like this. Henry was depressed from the age of 9, and attempted suicide twice before 14 years old. Stumbled into real estate after quitting his "corporate job" he had quit college for. Went broke 3 times in real estate, and built and rebuilt his team 4 times before his break. While over the last few years, Henry went from selling over 100 single-family homes per year to now 100% focusing his time on the commercial division of his team. His next BIG goal is to take his commercial team to over $1 Billion in sales annually. He credits all of his success to 3 things. First off, his insatiable drive to be bettering himself every single day. 1% a day adds up. Secondly, he focuses on relationship building, your network is your net worth is something he truly took to heart. Lastly, living in a state of gratitude. It's hard to have a bad day when you are overwhelmed with gratitude. This keeps him level-headed even through the toughest storms in life. Henry's vision is to create an environment of empowerment, positivity, love, and abundance for everyone he connects with.Connect with Henry:Website: https://www.henryeisenstein.com/YouTube channel:    / @henryeisenstein  --🙋‍♂️ Chad Griffiths, MBA, SIOR🚩 Subscribe: https://www.youtube.com/@industrializ...#coldcall #prospecting #industrialrealestate

In this week's episode I was joined by the illustrious Ken Ashley to talk about tips for new commercial real estate agents looking to break into the industry as well as what existing brokers can do to increase their business!00:00 Intro & past adventures 01:05 CREI Summit teaser 01:18 Ken’s origin story + “Real Estate Prescription” book mention04:00 Career momentum analogies 06:43 Market cycles, recency bias & why now is an opportunity08:51 Choosing a brokerage10:11 Splits, resources & why mentorship matters more than brand13:39 How to find/secure a mentor 18:14 It’s OK to pivot—time horizons & expectations for new brokers20:10 Year-one roadmap to expertise 23:39 Become the market expert—and tell everyone you can help25:24 Business development29:25 Marketing vs sales; why social media is one plank35:10 What to post: Ken’s “Four Corners” content strategy37:22 What not to post: avoid controversy; handling trolls & staying positive41:54 Dealing with negative comments 45:40 Inside the CRI Summit: purpose, community & recognition lists49:05 Digital tools & AI: from tools → tasks; rainmaking focus51:17 Next CRI Summit details 54:14 Ken’s book details & closing remarksConnect with Ken:X: https://x.com/kenashleyLinkedIn: https://www.linkedin.com/in/kenashleyatlantaCREiSUMMIT: https://creisummit.com/--🚨 New! "Industrialize: The Kids Guide to Industrial Real Estate" is now available: https://mybook.to/industrializejr📈 "Industrialize: The Insider's Guide to Industrial Real Estate" is now an Amazon bestseller in the category of Commercial Real Estate: https://mybook.to/industrialize--🚩 Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1 #industrialize #industrialinsiders #industrialrealestate

In this week's episode Ron walked through his track record of about $25M in partner-equity deals with no LP syndications, where he typically sells at a 2× equity multiple plus cash flow. After selling most of his holdings this year (three sold, one small buy), he’s retooling with fewer partners, longer holds, higher-quality assets with durable leases, and sites that include optional land he can monetize later.The big takeaways match my playbook: be fast to underwrite and offer, but patient until a real opportunity appears. Tighten NNN leases and keep meticulous documentation because institutions turn diligence up to roughly 10x a normal deal. Ron’s recent IOS example summed it up well: bought two buildings on roughly 4 acres for $2.35M, corrected overstated acreage, reset a tenant to market before closing, secured about 5% seller financing, re-leased quickly after a vacancy (plus a roof repair), then exited about 18 months later to Blackstone for $4M+ at roughly a 6.4 to 6.5% cap. Looking ahead, he is eyeing an 80,000 sf Laredo distribution play with two years of term left, comfortable with lease-up risk given a low basis and easy demisability. We both prefer clustering assets in one submarket to cross-shop tenants. Macro view: the economy feels fragile, cap-rate compression is a maybe, and selective small IOS, sometimes all cash, can be the resilient move--🚨 New! "Industrialize: The Kids Guide to Industrial Real Estate" is now available: https://mybook.to/industrializejr📈 "Industrialize: The Insider's Guide to Industrial Real Estate" is now an Amazon bestseller in the category of Commercial Real Estate: https://mybook.to/industrialize--🚩 Subscribe:    / @industrialize  #industrialize #industrialinsiders #industrialrealestate

Ethan is a Baltimore-area investor who moved from offices and strip centers into strictly industrial after years of high capex and constant turnover in those assets. His 30,000 sf small-bay warehouse bought in 2013 for $2.15M has run nearly full for 12 years, needed little capex, and is now worth about $4.5M. Limited new supply of small bay, 3 percent annual rent bumps, and sticky tenants made it a cash cow. He sees big funds drifting down-market from big box to chase yield, but notes small-bay tenants are gritty and practical, so local owners who know the profile often have an edge.He has doubled down on industrial outdoor storage. A 16-acre site near Dover was bought for about $1.2M, improved with gravel, fencing, solar lights, cameras and an app-controlled gate, then run by a truck-parking operator. Pricing is about $175 per spot per month with daily and weekly options, modeled for roughly 180 stalls and now about 65 percent occupied, already covering the mortgage. He financed quickly via a line of credit then plans to refi after stabilization. A failed Phase I led to a clean Phase II, which unlocked the deal. He also owns two 5,000 sf warehouses with 1.5 acre yards leased to a pipe distributor, a contractor and a granite company, plus another IOS site across from Dover being turned into containerized self-storage. Strategy wise he avoids Baltimore City’s higher taxes, favors Harford County and secondary markets near highways on the I-95 corridor, and targets IOS parcels of 3 to 5 acres or more where supply is scarce and demand is deep.--🚨 New! "Industrialize: The Kids Guide to Industrial Real Estate" is now available: https://mybook.to/industrializejr📈 "Industrialize: The Insider's Guide to Industrial Real Estate" is now an Amazon bestseller in the category of Commercial Real Estate: https://mybook.to/industrialize--🚩 Subscribe: / @industrialize #industrialize #industrialinsiders #industrialrealestate

Jay Olshonsky, former chairman president and CEO of NAI Global, joined to share why he launched 42 Plus LLC, an advisory firm named for his years in the business. His mission is to fight stagnation he sees across real estate by helping leaders move forward. We dug into AI’s impact, the likely ebb and flow of an eventual bubble, and why you must pay attention even if you are not the expert. Jay partners with Phil Stringer to bring proven AI training from the residential side into commercial. He sees AI as a time saver for research, writing, analysis, and outreach, while reminding us that local knowledge and face to face work still win. Big firms keep consolidating, yet access to data and tools has leveled the field for boutiques. Personal branding in commercial is catching up to residential, with standouts showing how consistent value beats company size.Jay’s playbook is simple. Know your audience. Give value. Use AI if it saves ten hours a week and rethink it if it costs twenty. Invest in travel and in person meetings to deepen insight and trust. Reverse mentor with younger pros to keep messaging sharp. He views the industry as 10 percent elite adopters, 10 percent striving, and a large middle stuck in place. His closing note was clear. Most people are not failing, they are stagnating, and a few smart changes can get them moving again.--🚨 New! "Industrialize Jr: The Kids Guide to Industrial Real Estate" is now available: https://mybook.to/industrializejr📈 "Industrialize: The Insider's Guide to Industrial Real Estate" is now an Amazon bestseller in the category of Commercial Real Estate: https://mybook.to/industrialize--🚩 Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1 #industrialize #industrialinsiders #industrialrealestate

On this episode of the Industrial Real Estate Show, I sat down with Allen Buchanan, a veteran broker and author of The Sequence, a framework for brokers to succeed in the industry. Allen shared his journey from growing up in a family business to starting out at Procter & Gamble, before eventually finding his way into commercial real estate back in 1984. Over 41 years, he has built his entire career in Southern California with Lee & Associates, watching both his firm and the industrial market grow into global leaders. He explained how market dynamics shifted dramatically through the pandemic, with skyrocketing rents, surging development, and now a tenant-friendly environment as supply balances out with softer demand.We also dug into his motivation for writing The Sequence. For Allen, the book is both a tactical roadmap and a legacy piece, weaving lessons from his career, mentorship experiences, and life inflection points. He emphasized the importance of defining your “why” before jumping into brokerage, seeking mentorship, and aligning with the right company and asset class. He also spoke about the industry’s evolution, how AI and data are reshaping competition, and why training, mentorship, and coaching are critical for brokerages to reduce high attrition rates. Looking ahead, Allen plans to continue writing, mentoring, and training new brokers, all while balancing his passion for real estate with family travel and personal goals.Buy Allen's new book: https://www.amazon.com/SEQUENCE-Perso...--🚨 New! "Industrialize: The Insider's Guide to Industrial Real Estate" is now available: https://mybook.to/industrialize--🚩 Subscribe:    / @industrialize  #industrialize #industrialinsiders #industrialrealestate

On this episode of the Industrial Real Estate Show, I sat down with my friend and fellow author Amy Calandrino to talk about what it’s really like to write and publish a book. Amy shared her story of burnout and how that ultimately inspired her to write, while I reflected on my own process and how the hardest parts weren’t the writing itself but publishing and especially marketing. We compared what worked for us, what didn’t, and how both of us underestimated just how much effort it takes to sell a book once it’s out in the world.From there, we dug into marketing strategies, including some unorthodox approaches I tried like memes, funny videos, and cringey-but-effective tactics that actually helped spark attention. I admitted I’d do things differently next time (better planning, more coordination, and a clearer business plan) but also recognized that selling a book is a long game. We agreed that unlike real estate, book sales build slowly, and it takes persistence, creativity, and consistent effort. At the end of the day, I came away with a deeper appreciation for the process and the importance of weaving my book naturally into everything I do moving forward.Connect with Amy:Website: https://www.amycalandrino.com/Book: https://www.amazon.com/Perfect-Real-P...--🚨 New! "Industrialize: The Insider's Guide to Industrial Real Estate" is now available: https://mybook.to/industrialize--🚩 Subscribe: / @industrialize #industrialize #industrialinsiders #industrialrealestate