Navigating the Labor Market

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss the Society of Industrial and Office Realtors (SIOR) designation. SIOR is an international organization of real estate professionals that has been around for many years. Being an SIOR member is seen as one of the best designations you can get in commercial, industrial and office real estate. Both hosts emphasize that the relevance of this designation greatly depends on the effort and commitment you put into it. They argue that it brings educational opportunities and networking potential, especially for smaller boutique firms. They also recommend it for young and upcoming brokers, while stressing its varying impact based on geographical location and the strength of local chapters. They conclude by mentioning that while larger corporate tenants are generally familiar with the SIOR designation, they may not fully understand its depth and value to their business.

00:37 Introduction to the Podcast

00:47 Understanding the SIOR Designation

01:24 Relevance of SIOR in Today's Market

02:17 Benefits of SIOR for Different Firms

03:37 SIOR for Young Brokers

04:23 Comparing SIOR and CCIM Designations

04:56 Insights from a Veteran SIOR Broker

05:53 Recognition of SIOR Among Tenants and Landlords

06:49 Conclusion and Recommendations

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor interview Jon Scholes, CEO of the Downtown Seattle Association. Scholes discusses the current state of downtown Seattle and how it has recovered from the impact of COVID-19. Scholes shares how the city's focus on creating a diverse, vibrant downtown has attracted new businesses, increased residential growth, and boosted the visitor industry. He also talks about how Seattle stands out for its blend of urban experience and natural beauty. However, the downtown area has faced challenges including drug addiction and homelessness, but Scholes is hopeful due to the city's commitment to improve. Lastly, Scholes gives a hint about the possible return of the Sonics, contributing to the city's rich sports culture.

00:37 Guest Introduction: Jon Scholes

01:26 Current State of Downtown Seattle

02:38 Impact of Major Events and Developments

04:38 Seattle's Response to the Pandemic

08:02 Future Growth Opportunities for Seattle

10:21 Challenges Faced by Downtown Seattle

13:15 Return to Office Trends

16:08 Unique Attributes of Seattle

18:07 Conclusion and Final Thoughts

On this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor talk about the rise of multi-story warehouses in dense urban areas where land is often very expensive. They discuss two styles of multi-story warehouses: ones where truck courts are stacked vertically and others that are accessed via freight elevators. The hosts also discuss the potential struggles these buildings might encounter in the future such as vacancy rates, high value location, and how e-commerce may contribute to their success. They highlight some examples of multi-story warehouses including the Bronx Logistics Center in New York and Seattle Metro Logistics. The discussion concludes with speculation about the future of these buildings, particularly in regard to leasing challenges and rates.

00:39 Discussion on Multi-Story Warehouses

01:32 Different Styles of Multi-Story Warehouses

02:02 Location and Value of Multi-Story Warehouses

02:49 Challenges and Market Response to Multi-Story Warehouses

05:34 Future Predictions and Closing Remarks

This podcast episode discusses the historical and current trends in the industrial owner-user market, a concept that involves companies buying buildings for their own use. Hosts Bill Condon and Matt McGregor reflect on their historical experiences, noting a shift in the market dynamics since they started in 2004. They observe that the gap between what users and investors would pay for buildings has fluctuated over time, influenced by various industry trends and economic periods. They highlight the resurgence of the user market, attributing this to several factors, including increased cash availability among users. The hosts also predict an upward trend in user transactions over investment ones in 2024.

00:40 Introduction and Welcome

00:51 Historical Perspective of the Market

02:31 Impact of 2008 Financial Crisis on the Market

03:32 Current State of the User Market

04:18 The Rise of Cash Buyers

05:04 Predictions for the User Market in 2024

05:35 Conclusion and Sign Off

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor provide us with a thorough overview of the North End industrial market. Joining them is Derek Heed, an experienced broker from Colliers, who gives valuable insights about the market's growth, its historically strong connections to Boeing and aerospace, and recent trends such as the influx of institutional groups and developments in emerging areas like Arlington and Marysville. Going forward, Derek predicts a leveling out of rents and an increase in tenant power due to slightly softer demand in 2024. The episode emphasizes the dynamism of the North End market and how it continues to evolve under various pressures, providing a deep-dive exploration into one of the key players in the Puget Sound's industrial landscape.

00:02 Introduction and Welcome

00:40 Guest Introduction: Derek Heed

01:40 Understanding the North and East Side Industrial Market

03:19 The Evolution of the North End Market

07:22 Institutional Players in the North End

11:52 Emerging Markets in the North End

18:31 Investment Opportunities in the North End

19:47 Predictions for the North End Market in 2024

22:39 Closing Remarks

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor engage Glen Thomas, the Senior Vice President for Corporate Real Estate Services at Knight Swift Transportation, in a lively discussion on the state of the transportation industry. Glen explains his role in managing over 400 locations under Knight Swift, the company's recent major acquisitions, and how it offers the full scope of transportation logistics services across the U.S and Mexico. He also shares insights into the current trends in the transport industry, focusing on technological innovations in safety for both truck and LTL freight, the challenges of EVs, autonomous driving, and efforts to reduce carbon emissions. The trio also explores the high turnover rate of truckload drivers and discuss how Knight Swift is addressing this issue.

00:02 Introduction and Guest Presentation

00:41 Getting to Know the Guest: Glen Thomas

01:17 Glen's Ironman Journey

02:13 Understanding Knight Swift Transportation

03:35 The Growth and Challenges of Knight Swift

04:27 Trends in the Trucking Industry

07:43 The Future of Trucking: EV and Autonomous Trucks

11:26 Maintaining Competitive Edge in the Trucking Industry

14:13 Best Practices and Challenges in the Trucking Industry

16:59 Employee Retention and Turnover in the Trucking Industry

18:41 Conclusion and Farewell

Hosts Bill Condon and Matt McGregor discuss observations and predictions about the office market's state post-pandemic. They express confidence in the market's return, noting an increased frequency of people in offices on Tuesdays to Thursdays, while remote work seems to be more common on Mondays and Fridays. They also mention specific office deals and market vacancy rates, highlighting recent improvements despite higher vacancy rates. They predict a likely surge in the office market sooner than expected as people return to offices and contribute to downtown commerce. The hosts also discuss the residual effect this return has on the boost of the retail sector, particularly restaurants suffering from the pandemic.

00:35 Introduction and Welcome

00:39 Discussion on Office Market

01:04 Observations on Office Attendance

02:13 Impact on Leasing Market

02:48 Predictions for Office Market Recovery

03:53 Impact on Retail Sector

04:26 Potential Investment Opportunities

05:17 Effects on Restaurants and Local Businesses

05:56 Conclusion and Wrap-up

In this episode, Bill Condon and Matt McGregor delve deep into the latest market trends within the industrial market. Discussions include the pull back of products in the capital markets, the decrease in building values and the downfall of land values. They also highlight areas like South Seattle and their rise in tech and EV activity. Additionally, they explore challenges associated with the construction debt. The conversation sheds light on the role of companies like Amazon and Boeing in impacting industrial leasing and absorption rates, focusing on the current state and potential future of the industrial market.

00:37 Introduction and Welcome

00:44 Discussion on Market Impact and Product Pulling

01:36 Analysis of Pricing and Buyer Expectations

02:17 Impact of Pricing on Market Dynamics

04:10 Exploring the Downfall of Land Values

05:36 Insights on Market Trends and Subleasing

06:51 The Soft Spot in the Market: 100 to 200,000 Square Foot Range

07:59 Discussion on Southern Industrial Market Trends

09:57 Challenges and Trends in South Seattle Market

12:28 Boeing's Impact on the Market

13:32 Amazon's Potential Return to the Market

14:08 Challenges in Construction Financing

14:57 Conclusion and Farewell

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor are joined by special guest Kyle Back to discuss the rising trends and challenges within the industrial outdoor storage (IOS) sector. The group talks about the increasing interest from funds, the attractiveness these sites hold due to low maintenance costs, and strategies to boost revenue, such as dividing the storage space to accommodate multiple small tenants. However, the group also mentions that demand has been somewhat overstated and certain IOS sites that don't have future development potential or are of awkward dimensions have been sitting vacant. They conclude that well invested sites, with paving, fencing, and lighting, tend to do well and attract good credit groups.

00:35 Introduction and Welcome

00:41 Understanding Industrial Outdoor Storage (IOS)

01:27 The Attraction of IOS Sites

01:59 The Reality of Demand for IOS Sites

02:09 Investor Interest in IOS Sites

04:04 Challenges and Opportunities with IOS Sites

04:44 Ongoing Costs and Management of IOS Sites

06:22 The Success of Well-Developed IOS Sites

07:03 Conclusion and Future Tracking of IOS

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss significant factors that influenced the industrial market in 2023 and make predictions for 2024. They noticed an increasing vacancy rate in the 100 to 200 thousand square feet range, with Kent Valley and North End being the only two submarkets with positive absorption. A notable point was the decline in the number of industrial land sales in 2023. They predict a slower start for investment volume in 2024 but expect a substantial increase in the second half of the year.

00:02 Introduction and Welcome

00:37 2023 in Review: Predictions and Reflections

01:18 Market Analysis: Inventory and Vacancy

03:25 Market Analysis: Absorption and Submarkets

05:17 Market Analysis: South Seattle

10:20 Market Analysis: Kent Valley and Auburn

12:42 Market Analysis: Land Sales and Investment Volume

15:17 Predictions for 2024