Industrial Advisors

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

In this Industrial Advisors podcast, hosts Bill Condon and Matt McGregor engage in an insightful discussion with their guest Craig Hurvitz, the National Director of Industrial Research at Collier's. The discourse revolves around the state of the industrial market in 2023, which despite fears of recession and a crumbling capital market has remained strong. There is a decrease in overall demand from the soaring figures of 2021 and 2022, but it's in line with the performances of 2017-2019. A disproportionate amount of supply in the market is creating an imbalance, contributing to increases in vacancy rates. Craig also highlights new emerging trends, predicting a 'reset' of the industrial market by the end of 2024. Dallas and Phoenix, among others, show promising signs of growth, and subleasing has seen a slight uptick but remains within historical averages. The conversation offers in-depth perspectives and predictions on the industrial market scenario.

00:35 Introduction and Guest Introduction

01:05 Discussion on Industrial Market Trends in 2023

02:12 Understanding Net Absorption and Supply-Demand Balance

05:00 Top Performing Industrial Markets in the U.S.

06:12 Emerging Trends in the Industrial Market

08:04 Discussion on Industrial Lease Rates and Escalations

09:16 Insights into the Industrial Capital Market

10:27 Predictions for the Industrial Market in 2024

11:27 Investment Opportunities in the Industrial Market

13:23 Trends in Subleasing in the Industrial Market

14:40 Conclusion and Guest Farewell

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the controversy around Florida State being left out of the college football playoffs, arguing about the fairness of selection criteria and pointing out the impact of team performance. In their predictions for the upcoming playoffs, both agree that Alabama will beat Michigan and predict a challenging match between Washington and Texas. The two diverge in their final predictions, with McGregor believing in Washington's victory, while Condon forecasts Alabama as the champion.

00:40 Topic Introduction: College Football Playoffs

00:43 Debate: Florida State's Exclusion from the Final Four

01:54 Predictions: Matchup Analysis and Outcomes

03:31 Final Predictions: Championship Game

04:25 Conclusion and Final Thoughts

The Industrial Advisor podcast hosts, Bill Condon and Matt McGregor, welcome guest Dan Doherty from Colliers to discuss the industrial real estate market in Las Vegas. Doherty reflects on his background and the history of the Las Vegas market. They discuss the significant growth in the market over the past years, which has resulted in high levels of demand and unprecedented investment from institutions. The market expects an influx of 16 million square feet of industrial space over the next four quarters, which is likely to raise the vacancy rate and create opportunities for tenants seeking expansion. They also touch on the potential influence of the sports entertainment sector. Finally, Doherty provides his predictions for the market heading into 2024.

Dan Doherty, SIOR | dan.doherty@colliers.com | Direct: +1 702 836 3707 | Mobile: +1 702 809 1000

Key Moments:

00:35 Guest Introduction: Dan Doherty

02:12 Dan's Journey to Las Vegas

02:36 Impact of Mafia in Las Vegas

05:57 Water Crisis in Las Vegas

09:08 Industrial Market Dynamics in Las Vegas

10:42 Future Supply and Demand in Vegas Market

21:37 Impact of Sports and Entertainment on Vegas Market

23:54 Raising a Family in Vegas

26:05 Predictions for the Vegas Market

27:39 Closing Remarks

In this episode, Matt and Bill discuss the evolving and increasingly crucial role of brokers in lease negotiations. They reflect on how their services have matured from being novices afraid of leases to active participants who understand the negotiation process. They emphasized the importance of being proactive, understanding market conditions, and speeding up lease negotiations to avert deal fatigue. They advised new brokers to participate in calls, even when new, to learn the nuances of the leasing process, and to continually educate themselves through leasing classes with attorneys.

00:35 Introduction and Welcome

00:40 The Evolution of a Broker's Role in Lease Negotiations

00:48 The Importance of Understanding Leases

01:21 The Role of Attorneys in Lease Negotiations

01:46 The Complexity of Modern Leases

02:16 The Importance of Brokers in Lease Negotiations

03:16 The Broker's Role in Writing Legal Language

05:32 The Importance of Speed in Lease Negotiations

06:04 Advice for Young Brokers

06:52 The Importance of Education in Lease Negotiations

07:13 Conclusion and Book Promotion

In this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor welcome guest Ty Morris, a principal at Pure Development. Ty talks about his personal life, moves in Boise, and the success of his firm which has grown from 4 to 30 plus members in five and a half years. He discusses the importance of diverse hiring and the benefits of employing people from outside of the industry. The conversation shifts to Pure Development's well-diversified business model which includes their industrial build to suit, spec arm, and urban adaptive reuse mixed-use component. Ty then shares his views on current trends and opportunities in the industrial sector, highlighting the value add, net lease buying, and manufacturing areas.

Concluding the episode, Ty predicts a bigger economic slowdown beginning in 2023 and discusses challenges on the real estate side.

00:035 Introduction and Welcoming Guest

01:09 Getting to Know Ty Morris

02:03 Discussing Pure Development and Industry Trends

04:30 Insights on the Build-to-Suit Platform

05:38 Exploring Opportunities in the Industrial Sector

19:26 Predictions for the Industrial Sector in 2024

24:17 Sports Talk and Wrapping Up

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor delve into the fascinating evolution of the big box market in the Puget Sound region. Over the years, the definition of "big box" has transformed, and they discuss how it has changed, especially in the wake of the COVID-19 pandemic. They reflect on the pre-COVID perception of big boxes being 150,000 square feet and above, but how the market dynamics have shifted since. Bill and Matt analyze the current state of the big box market, revealing the significant demand for spaces exceeding 500,000 square feet and beyond. They share insights on the limited availability in this segment and discuss the growing trend of large tenants looking for substantial space well into the future. With a focus on the Puget Sound market's resiliency, they highlight the strength of the big box market, even in comparison to other West Coast markets. Don't miss this episode if you're interested in understanding the changing landscape of the big box market in the Puget Sound region and its promising outlook as they head into 2024.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:05 – Defining the Big Box Market

00:02:28- Demand for Large Spaces

00:03:43- Recent Deals

00:05:19- Book Promotion

Welcome to our Industrial Advisors podcast, coming to you from Boise, Idaho, at the IAMC conference. In this episode, we sit down with Brandon Page, Vice President and Head of Leasing at Link, which owns over 500 million square feet of industrial space across the country. We discuss the state of the industrial real estate market in 2023, the changing dynamics of leasing, and the challenges in the capital markets. Brandon provides insights into the trends he's observing in the 3PL world and shares his predictions for the remainder of 2023 and what the future may hold for the industrial sector in 2024. Join us for a deep dive into the world of industrial real estate and gain valuable insights from an industry expert.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:57 – Leasing Velocity in 2023

00:03:20- Trends with Occupiers in 2023

00:04:26- Acquisitions and Preferred Markets

00:07:44- 3PL discussion

00:09:01- Predictions for the remainder of 2023 and the outlook for 2024

00:13:26- Wrapping Up

In this episode of the Industrial Advisors Podcast, we go live from the IAMC conference in Boise, Idaho. Our special guest, Marcus Rose, Corporate Real Estate Manager at NFI, shares insights into managing over 180 locations and 33 million square feet of product. We dive into his experiences, from starting with tandem skydiving to becoming a licensed skydiver. Marcus also discusses his outdoor hobbies and the unexpected joys of Boise, a booming city since the pandemic. Join us as we explore the benefits of IAMC, its corporate-only sessions, and the valuable education and networking opportunities it offers to professionals in corporate real estate. Discover the unique perspectives and experiences of attendees at this conference as they share their insights and enjoy the week in Boise.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:13- Marcus’s Hobbies and Interests

00:03:25- IAMC Involvement

00:04:54: Values of education

00:06:48: Corporate Only Sessions

00:09:35: Plans for the conference

#CorporateRealEstate #IAMCConference #RealEstateManagement #SkydivingAdventures #BoiseExplore #IAMCInsights #HikingandBiking #NetworkingOpportunities #EmergingLeaders #EducationandLearning

In this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor sit down with Clark Krause, the Executive Director of Boise Valley Economic Partnership, on location in Boise, Idaho. As they enjoy the vibrant atmosphere of the IAMC conference, Clark shares his insights into the dynamic growth of the Boise area over his 13-year tenure. The conversation delves into Boise's status as one of the fastest-growing metros, its remarkable workforce, and the fascinating history of homegrown companies that have thrived in the region. Discover what makes Boise such a fantastic place for businesses and employees alike, and why this Idaho gem is more than just a great destination during the pandemic.

Key Moments:

00:00:35- Introduction and Topic Overview

00:01:05- Introduction to Boise and Its Economy

00:01:50- Population Boom

00:03:08: Introduction to Boise and Its Economy

00:04:08: Introduction to Boise and Its Economy

00:04:29: Reflection on Boise and the Conference

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor provide a comprehensive Q3 market update, discussing key factors impacting the industrial real estate market. They also announce the launch of their new book, "The Industrial Landlord's Agency Leasing Guide," and share insights into why they decided to write it. Join them as they analyze market trends, share predictions, and provide valuable information for landlords, portfolio managers, and fund managers in the industrial real estate sector.Top of Form

00:00:35- Introduction of the topic and our new book

00:00.46- Book Discussion

00:04:15- Q3 2023 Market Update - Dynamic Factor 1

00:07:40 – Q3 2023 Market Update - Dynamic Factor 2

00:10:07 Q3 2023 Market Update - Dynamic Factor 3

00:12:56- Q3 2023 Market Update - Opinion

00:13:31 Vacancy

00:15:06- Net Absorption

00:17:08- Construction

00:17:23- Market Givebacks

00:17:49- Capital Markets

00:18:47- Port Activity

00:20:05- Tenant’s Market?

00:22:06- Super Bowl Predictions

00:23:11- Wrapping Up

#IndustrialAdvisorsPodcast #MarketUpdate #IndustrialRealEstate #NewBook #LandlordsGuide #IndustrialLeasing #BestPractices #TenantMarket #RealEstateTrends #InvestmentOpportunities #MarketOverview #MarketInsights #LeasingStrategies #RentTrends #TenantDemand #CommercialRealEstate #PropertyInvestment #RealEstateMarket #MarketAnalysis #PropertyLeasing #IndustrialProperties #MarketForecast #InvestmentVolume