Industrial Advisors

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by Mike Kendall, the investment team leader for Collier's industrial sector on the West Coast. They discuss recent acquisitions, market trends, and investment strategies for industrial real estate throughout 2024. Key topics include a year-in-review of 2023 versus 2024, the impact of falling rents and weakening leasing fundamentals, and specific market performances in Seattle, Las Vegas, Portland, and Phoenix. The conversation also covers investment opportunities, with advice on navigating vacancy risks, short-term leases, and strategic land purchases. Mike shares insights on the investor climate, the importance of basics like location and functionality, and the potential benefits of patient capital. 00:00 Introduction and Welcome 01:23 Market Overview: 2024 in Review 03:04 Seattle Market Insights 03:35 Leasing Fundamentals and Market Trends 06:42 Investment Opportunities and Strategies 10:47 Core Markets and Long-Term Leases 18:24 Advising Clients in a Volatile Market 20:15 Conclusion and Contact Information   Michael Kendall Vice Chair  Industrial Capital Markets U.S. Capital Markets Board of Advisors, Industrial Lead COLLIERS 949-677-5812   You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss the complexities of vacancy rates in various locations and contexts. They highlight how vacancy can be misleading, with differences based on location, building size, and data tracking methods from firms like Colliers, CBRE, and Cushman. The discussion breaks down vacancy figures in regions such as Seattle, Tacoma, Kent, and Olympia, emphasizing the importance of detailed market analysis. They also touch on trends in subleases and the potential for landlords to consider demising larger buildings to meet market demands. 00:00 Introduction to Vacancy Rates 00:33 Welcome to Industrial Advisors Podcast 00:43 Understanding Vacancy Deception 01:18 Comparing Vacancy Data Across Firms 02:52 Location-Based Vacancy Analysis 04:06 Impact of Building Size on Vacancy 05:39 Current Market Trends and Challenges 06:25 Conclusion and Final Thoughts You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor delve into the changing landscape of the Puget Sound big box market, where the definition of 'big box' has shifted from 100,000 square feet deals 20 years ago to 300,000 square feet and above today. They explore how locations, sizes, and functionalities of buildings have evolved, highlighting modern trends like taller clear heights, increased trailer storage, and the rising importance of quality infrastructure. They also discuss current market trends, including ten existing buildings above 300,000 square feet, seven under construction, and a transition towards newer, more functional properties. Additionally, they anticipate the impact of robotics, electric trucks, and other technological advancements on future constructions.   00:00 Introduction to Future Construction Trends 00:35 Welcome to the Industrial Advisors Podcast 00:41 Defining the Big Box Market 01:29 Evolution of Big Box Locations and Sizes 02:05 Changes in Building Functionality 05:26 Current Market Analysis 10:49 Future Predictions and Challenges 13:24 Conclusion and Final Thoughts   You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor discuss the concerning uptick in subleases within the Puget Sound market, rising from 800,000 to 4.6 million square feet in just over two years. The hosts examine how the influx of subleases, particularly those above 100,000 square feet, is problematic for market stability and rental rates. They note that this trend is exacerbated by the increased availability of high-quality sublease spaces and the role of 3PLs (third-party logistics providers) in the market. The episode concludes with a discussion on potential future market corrections and the importance of monitoring the subleasing landscape. 00:00 Introduction and Market Overview 00:52 Sublease Market Analysis 02:01 Impact of Subleases on the Market 02:59 Challenges and Opportunities 05:00 Future Outlook and Conclusion You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by top industrial real estate broker Steve Bellitti from Collier's. Steve provides an overview of the Inland Empire market, discussing market trends, the impacts of COVID-19, rising vacancy rates, and the dramatic shifts in lease rates and sublease spaces. Additionally, the conversation touches on the recent wildfires in Southern California, their effects on the real estate market, and Steve's personal experiences during these tragic events. The episode concludes with insights into future market conditions and projections for 2025. 00:00 Impact of COVID on the Industrial Real Estate Market 01:07 Introduction to the Podcast and Guest 01:54 Overview of the Inland Empire Market 04:44 COVID's Effect on Vacancy Rates and Rents 08:11 Sublease Space and Investment Challenges 11:50 Personal Impact of Wildfires 15:28 Future Outlook for the Inland Empire 17:29 Conclusion and Contact Information You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor discuss their top 10 recommended conferences for brokers and clients in the industrial sector. They highlight the Industrial Asset Management Council (IAMC), RILA Link Conference, EDGE Conference (CSCMP), TPM 21, E-commerce Operations Summit, IWLA Convention and Expo, Gartner Supply Chain Symposium, Promat, SIOR, and Cornet Global Summit. They also end the discussion with their Super Bowl predictions. CHAPTERS: 00:00 - Intro 00:25 - Industrial Real Estate Conferences 05:58 - Super Bowl Predictions You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor welcome Mahrin McGregor, a sophomore at Clemson, to discuss the fear of public speaking. Mahrin shares her personal journey from experiencing significant anxiety about public speaking in her early school years to overcoming her fears through practice and participation in competitions. Bill and Matt also share their own experiences and methods for handling public speaking anxiety. The episode highlights the importance of pushing oneself out of comfort zones to grow and the impact of consistent practice and support. Mahrin ends by discussing her recent success in Clemson's public speaking competition and her ongoing progress.   Capters: 00:00 - Intro 01:34 - Fear of Public Speaking: The #1 Fear 01:58 - Bill's Public Speaking Experience 04:26 - Mahrin's Public Speaking Experience 10:55 - Overcoming Fear of Public Speaking 14:05 - Is Society Worse at Public Speaking? 18:37 - Tips for Effective Public Speaking 19:39 - SIP 24:20 – Outro   You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors podcast, the hosts dive into the flex market, discussing what constitutes a flex property, typical characteristics, and how these properties have evolved over the decades. They highlight the historical development and current state of the flex market, noting key projects from the 1980s to the early 2000s, such as Walker Business Plaza and Cedar River. The conversation covers the challenges and opportunities within the flex market, including the impact of economic downturns, vacancy rates, and the specific needs of small credit tenants. The hosts also mention successful strategies by owners and the potential for future developments despite high construction costs. Chapters: 00:58 - 5MF: What is Flex 04:35 - When to Build Flex 07:04 – Outro You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss the recent trends and data in the industrial real estate market, focusing on Q4 2024 and projecting ahead to 2025. They highlight a notable reduction in vacancy rates in the 100,000 to 200,000 square foot range, signifying increased market activity. Investment momentum has doubled from 2023 to 2024, and user sales are at their highest since 2007-2008. They also discuss the challenges and creativity needed for landlords to secure tenants in the current market environment. The episode covers market adjustments, such as delayed spec developments, and breaks down vacancy rates across different property sizes. Predictions for 2025 indicate a gradual improvement in both leasing and investment activities 01:02 - 3 Facts and an Opinion 03:29 - Development Insights 09:07 - Understanding Vacancy Rates 12:39 - Investment Sales Trends 13:44 - Largest Move-Out Analysis 14:25 - Port Statistics Overview 14:41 - Q4 Recap & 2024 Outlook 15:04 - Predictions for 2025 15:41 - Thanks for Listening You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor interview Chris Knezevic of the law firm Voorhees, Sater, Seymour Peace, focusing on the complexities of economic development, property tax incentives, and the rise of data centers. Chris discusses the importance of accurate property tax estimates, the unique role of law firms in negotiating tax incentive agreements, the growing interest in non-traditional markets for data centers, and the challenges of securing long-term incentives for large-scale projects.00:35 Welcome to Industrial Advisors Podcast 01:39 - Chris Knezevic Introduction 04:05 - Top 10 Lessons in Property Tax Incentives 05:24 - Data Centers Overview 09:29 - Challenges in Data Center Negotiations 11:42 - Key Takeaways from AMC Session 14:22 - Closing Remarks You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com