The Industrial Real Estate Podcast

Had the privilege of having KC Conway join me for an update on both the economy and the industrial real estate market! Here's what we chatted about: 0:20 - What's happened so far in 2024? 6:35 - Inflation and interest rates 12:36 - Fiscal policy problems 15:21 - What happens post election? 19:35 - Industrial real estate in 2025 29:44 - Where is office at? 33:42 - Capital markets risk 37:15 - Interest rates in 2025 44:44 - Geopolitical issues 50:46 - US Steel Sale 56:03 - Wait and see? 58:04 - Optimistic but concerned 1:05:00 - Connecting with KC Connect with KC: KCnomics website: https://kcnomicsllc.com/ LinkedIn: / kc-conway-mai-cre-10320812 About KC: KC Conway is a nationally recognized economist and appraiser with a nearly 40 year career including positions in commercial banks, government service, and academia. Among his more notable career achievements are (i) his role as the commercial real estate subject matter expert providing counsel to the Federal Reserve during the Great Recession of 2007-2010; (ii) serving as the Chief Economist for the CCIM Institute from 2017-2023; and (iii) acting as an instructor for real estate trends at the Federal Financial Institutions Examination Council continuously from 2006. In addition, he presently serves as a director of a publicly traded REIT and testifies as an expert witness on valuation and tax appeals in various state and U.S. courts. -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership Produced by Questor Media

In this engaging discussion, co-host Matt Carroll and supply chain expert Dr. Jim Tompkins dive into pressing issues within global supply chains. They explore how Mexico might help alleviate current supply chain challenges and the implications of onshoring trends. The duo addresses the economic tensions with China, pondering whether companies will leave the country altogether. They also examine technological advancements in port automation and the crucial need for adaptability in logistics as political and climate factors continue to evolve.

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 -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

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 -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

In this discussion, Phil Copulsky, Director of Private Capital at Westmount Realty Capital, shares his insights on the booming industrial real estate market. With over a decade of experience in financial services, Phil discusses why investors are increasingly drawn to industrial properties over traditional multifamily ones. He touches on tenant profiles, market identification, and the unique challenges of investing in Class B properties. The conversation also addresses the impact of rising interest rates and the importance of informed, strategic investment decisions.

In this engaging discussion, Benjamin Dennehy, known as the UK's Most Hated Sales Trainer, shares his unconventional wisdom on mastering cold calls in commercial real estate. He dives into overcoming call reluctance and the importance of establishing genuine connections with clients. Dennehy critiques traditional sales metrics, advocating for tailored communication strategies based on personality types. He also explores the transition to subscription-based sales training and highlights the significance of personal growth and skill mastery in navigating the sales landscape.

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/ -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

Doug Kiersey, CEO of Dermody Properties, discusses current state of industrial real estate market, including investor appetite and market values. Topics include China's impact on US inflation, strategies for maintaining fully occupied buildings, and challenges in powering data centers with renewable energy.

Join Douglas Kiersey, CEO of Dermody Properties, as he discusses trends in industrial real estate such as automation and taller buildings. Explore challenges like meeting power demand and managing waste. Learn about successful vs. canceled projects, the rise of million-square-foot buildings, and market strategies for industrial real estate.

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 -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership