Industrial Advisors

In the latest episode of Industrial Advisors, hosts Bill Condon and Matt McGregor welcome Michael Mikulski, the National Business Development Manager for Incentives and Credits at ADP. Speaking from the IAMC conference in South Carolina, Mikulski shares insights about his role and experience at ADP, a leader in negotiating tax incentives and credits. The discussion covers ADP's advanced tools for managing incentives, an in-depth case study on a distribution facility for Ollie's, and emerging trends in real estate and incentives. Key topics include the shift towards companies using their capital for real estate investments, the evolving return-to-office landscape, and the growing emphasis on sustainability and environmental impacts in incentive programs. The episode concludes with reflections on the importance of incentives in strategic business decisions and economic development. 00:00 Introduction and Podcast Overview 00:38 Guest Introduction: Michael Mikulski 00:59 Michael's Background and Role at ADP 01:43 Deep Dive into ADP's Incentives and Credits 03:50 Case Study: Incentives for Ollie's Distribution Facility 05:50 Emerging Trends in Incentives and Real Estate 09:43 Impact of COVID-19 on Incentives 12:04 Sustainability and Environmental Incentives 15:28 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 engaging episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor welcome Brendan Egan from Dermody Properties, live from the IAMC conference in Greenville, SC. Brendan Egan discusses Dermody Properties' active role in industrial real estate, emphasizing their nationwide projects and customer-focused developments. He outlines the company's strategic responses to shifting market conditions, their ambitious projects like the transformation of the Allstate Insurance Headquarters into a logistically optimized campus, and future prospects amidst the panorama of nearshoring and speculative development. The conversation also explores the competitive landscape of industrial real estate development and Dermody's tactical approaches for continued success into 2024. 00:00 Welcome to the Industrial Advisors Podcast 00:42 Live from the IAMC Conference in Greenville, SC 00:49 Guest Spotlight: Brendan Egan of Dermody Properties 02:11 Dermody Properties: Strategy and Nationwide Impact 03:56 Innovative Projects and Development Insights 07:41 The Competitive Landscape and Future Outlook 11:21 Closing Thoughts and Greenville Adventures 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 explore the intriguing topic of Matt's stint as a private investigator. Matt clarifies that he specialized in cases involving professional claimants against large companies. He shares anecdotes from his experiences, illustrating the innovative surveillance techniques used, such as modifying cars for concealed camera placement and eavesdropping on wireless phone calls to gather evidence. Matt also reflects on how these investigative tasks honed his sales skills, particularly in securing additional hours from clients by demonstrating the need for ongoing surveillance. 00:42 The Unique Topic of Today's Episode: Was Matt McGregor a Private Investigator? 01:15 Diving Deep: Matt McGregor's Private Investigator Stories 02:43 The Art of Surveillance and Investigation 04:09 The Sales Aspect of Private Investigation 07:06 Concluding Thoughts and Transition to Brokerage 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 recorded live from the IAMC conference in Greenville, South Carolina, hosts Bill Condon and Matt McGregor chat with Michelle Needles, Executive Vice President and head of Enterprise Solutions at Colliers. Michelle shares insights from her successful career in commercial real estate, highlighting the importance of allyship, innovation, and adaptability within the industry. 00:41 Live from the IAMC Conference in Greenville, South Carolina 00:53 Spotlight on Michelle Needles: A Colliers Success Story 01:52 Michelle's Life in Montana: Boating, Pickleball, and Yellowstone 05:15 A Deep Dive into Michelle's Career Path and Success in Commercial Real Estate 09:22 Unlocking Client Potential: A Deep Dive into Custom Solutions 10:07 Innovating for Success: The Cummins Case Study 12:55 Expanding Horizons: Beyond Traditional Solutions 15:23 The Future of Work: Embracing Hybrid Models 19:16 Concluding Thoughts: The Journey Ahead 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 share insights into their daily routines as successful brokers. They discuss the importance of planning, categorizing days for client focus, preparation, and rest, prioritizing important tasks, and integrating flexibility for personal commitments. Additionally, they introduce a structured team meeting approach, the L10 meeting from EOS, which has significantly improved their team's focus and productivity. This episode provides a peek into the disciplined yet flexible approach successful brokers take to manage their time, focus on business development, and ensure team alignment and effectiveness. 00:39 A Day in the Life of a Successful Broker 00:49 Organizing for Success: Strategies and Routines 03:35 Prioritizing Business Development and Client Interaction 04:54 Effective Team Meetings: The L10 Approach 06:07 Closing Thoughts and Thanks You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

Welcome to the Industrial Advisors Podcast, where we dive into the latest trends and insights shaping the industrial real estate market. In this episode, hosts Bill Condon and Matt McGregor sit down with Steve Bellitti, one of the leading brokers at Colliers and an expert in the dynamic Inland Empire market. Here's what you'll learn: Insider Insights: Get an exclusive peek into the heart of the Inland Empire, one of the most robust industrial markets in the United States. Market Overview: Discover why the Inland Empire stands out as a powerhouse in industrial real estate, boasting significant growth and unparalleled opportunities. Key Drivers: Learn about the primary factors fueling the growth of the Inland Empire market, including population dynamics, port activities, and the e-commerce boom. Market Shifts: Gain valuable insights into the recent market shifts, including the impact of COVID-19 and changing tenant dynamics. Construction Trends: Explore the current state of construction in the Inland Empire and its implications for supply and demand dynamics. Tenant Strategies: Understand how tenants are navigating the evolving market landscape and leveraging newfound opportunities in a tenant-driven market. Future Outlook: Hear expert predictions and insights on what lies ahead for the Inland Empire market and how stakeholders can prepare for the road ahead. Tune in to this insightful conversation as we unravel the complexities of the Inland Empire market and uncover strategies for success in today's industrial real estate landscape. Whether you're an investor, developer, or occupier, this episode offers valuable perspectives to help you stay ahead of the curve. 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, recorded at IAMC live in South Carolina, hosts Bill Condon and Matt McGregor welcome back Chloe Heiligenstein. Chloe discusses her transition from a broker at Colliers to a business development manager at InLight Development, focusing on port centric supply chain related assets. Chloe shares insights on current trends in industrial real estate development, including the rise of value-add acquisitions and the challenges posed by rising rates and construction costs. Chloe offers predictions on the industry, highlighting the potential impact of loan defaults and the increasing relevance of sale leasebacks as a financial strategy. 00:41 Special Guest Introduction: Chloe's Journey 01:44 Chloe's Career Path and Transition 03:22 Insights into Industrial Development Trends 04:56 Challenges and Trends in Construction and Development 05:37 Demand Dynamics and Future Predictions 07:50 Closing Thoughts and Acknowledgments 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 review the industrial market performance for Q1 2024. They discuss the rise in vacancy rates across various submarkets, except for the Eastside, reaching an overall rate of 7%. The conversation also covers tenant and landlord markets, submarket performances, including South Seattle and Kent Valley, and the impact on different market sizes. The impacts of COVID on buying patterns, the shift in demand from durable goods to experiences, and the role of 3PLs in current market dynamics are analyzed. Additionally, they touch on investment sales activity, user market demand, challenges in the multi-story market, the implications of a bridge collapse on the supply chain, and development trends. The episode concludes with predictions for tenant velocity, investment activities, and vacancy rates in the upcoming quarters. 00:43 Diving into the Q1 2024 Industrial Market Review 00:52 Vacancy Rates and Market Dynamics Discussion 02:32 Submarket Analysis: South Seattle, Kent Valley, and Pierce County 06:29 Tenant and Landlord Market Trends 08:50 Investment Sales and Market Opportunities 13:00 The Impact of Multi-Story Developments and Amazon's Activity 16:08 Port Activity, Supply Chain Issues, and Development Insights 19:39 Q1 Recap and Predictions for the Upcoming Quarters You can find every episode of this show on Apple Podcasts, Spotify or YouTube, For more, visit industrialadvisors.com

In this episode of Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the rebound in industrial investment activity for Q1, noting a significant uptick following a low volume year in 2023. 00:41 Diving into Q1 Investment Activity Insights 01:19 The Rise of User Market and Investor Comeback 02:07 Analyzing the Valley's Q1 Performance and Future Predictions 03:51 Bullish Outlook for the Investment Landscape 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 Meredith Marash, Senior Vice President of the Enterprise Market Solutions team at Colliers, to discuss the evolving needs of corporate real estate occupiers. Marash, who is based in New York, shares her extensive experience in the commercial real estate sector, emphasizing the importance of strategy, optimization, and technology in managing real estate portfolios. The discussion covers the significance of lease administration, the integration of technology for better management and measurement, and the role of AI in corporate real estate. Meredith also shares insights on the industrial platform at Colliers and how their approach to understanding client needs has led to success in securing global accounts. 00:43 Meet Meredith Marash: A Colleague, Friend, and Ultra Marathon Runner 02:15 Meredith's Journey in Commercial Real Estate 03:35 The Role of Technology and Services in Real Estate 06:50 Why Clients Choose Colliers for Their Industrial Real Estate Needs 09:31 The Future of AI in Real Estate 11:20 Closing Thoughts and Appreciation

This episode of the Industrial Advisors podcast features hosts Bill Condon and Matt McGregor, as they welcome Rafael McCadden, the Director of the Industrial and Logistics Division in Mexico, to discuss the booming industrial real estate market in Mexico, driven largely by nearshoring. Rafael shares insights into Mexico's extremely low vacancy rate, the significant role of nearshoring in current industrial activity, and the factors contributing to Mexico's attractiveness for industrial investments, including a young labor force and favorable trade conditions with the US. The discussion also covers challenges such as energy and water scarcity, trends in types of industries and investment sources, and the overall bilateral commercial relationship between the US and Mexico. 00:40 Introducing Rafael McCadden: A Key Player in Mexico's Industrial Sector 01:10 The Personal Side of Business: Weddings and Deals 01:39 Mexico's Industrial Boom: Nearshoring and Its Impact 06:04 The Chinese Influence in Mexico's Industrial Landscape 10:14 Mexico's Power Struggle: Energy and Infrastructure Challenges 13:12 Mexico's Rising Tech Talent and Skilled Labor Force 15:04 US-Mexico Relations: Trade, Elections, and Future Prospects 16:49 Wrapping Up: Insights and Farewells If interested in the map mentioned in this week’s episode, please reach out to us at podcast@industrialadvisors.com

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