The Industrial Real Estate Podcast

In this episode of The Industrial Real Estate Show, Jeff Deehan of Dymaxion Development shares how his passion for city-building (first sparked by playing SimCity as a kid) evolved into a career in real-world development. Based in Lansing, Michigan, Deehan’s firm takes a hyper-local, mixed-asset approach, developing multifamily, industrial, and even community-scale projects within a 100-mile radius. Rather than chasing population or job growth trends, he starts with a property or area that’s underutilized and reimagines how it can be integrated into the broader economic and social fabric of the region. His firm simultaneously tackles construction, development, and asset management, giving them long-term flexibility and the ability to solve problems in real time.

Deehan discusses the difference between multifamily and industrial development, noting that industrial is typically easier to construct and manage but often faces more public resistance when outside traditional industrial zones. Conversely, multifamily projects generally face less pushback but come with different financing and entitlement dynamics. He also stresses the value of relationship-building in his market, spending hours each day speaking with brokers and local businesses to understand their needs and uncover opportunities.

When it comes to capital deployment, Dymaxion maintains a 50/50 balance between acquisitions and development, focusing on long-term value creation rather than speculative growth. For those looking to get into development, Deehan offers frank advice: start small, avoid overleveraging, and ensure you’re creating value you can live with—because development is rewarding, but definitely not for the faint of heart.

Connect with Jeff:

Website: https://www.dymaxionde...

X: https://x.com/Jeffdeehan

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In this episode of The Industrial Real Estate Show, Chad Griffiths welcomes returning guest Deren Huang, an industrial investor based in Tulsa. The interview kicks off with a fun lightning-round game where Deren challenges Chad to blindly rank various investments (from gold and Bitcoin to Olive Garden leases and drive-thru wedding chapels). The playful setup leads to insightful discussions about risk tolerance, asset classes, and how personal experience and logic influence investment preferences. Chad consistently favors predictable, scalable investments like the S&P 500 and industrial real estate, while expressing skepticism about novelty concepts and collectibles like vintage guitars.

The conversation then shifts into a deeper dive on Darren’s evolution from owning over 100 single-family homes to now managing over 200,000 square feet of industrial real estate in Tulsa. He shares candid lessons from early mistakes (such as overvaluing clear height at the expense of location and functionality) and emphasizes key attributes like geometry, site coverage, and access. Darren outlines his buy-box, investment strategy, and how he creatively financed properties during volatile interest rate shifts. He also discusses his transition from residential to industrial, the operational benefits of triple net leases, and his plans to pursue infill development. The interview closes with thoughtful advice to aspiring investors: start by learning the fundamentals, get to know your local market, and always remember that even in commercial real estate, you’re still dealing with people.

Connect with Deren:

Website: https://www.derenhuang.com/tulsa

LinkedIn: https://www.linkedin.com/in/derenhuang

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In this episode of The Industrial Real Estate Show, Chad Griffiths is joined by co-host Matt Carroll and returning guest Dr. Jim Tompkins to discuss the current state of global trade, tariffs, and how these issues are impacting supply chains and industrial real estate. Dr. Tompkins breaks down the rationale behind U.S. tariffs under President Trump, arguing that while they have caused short-term pain, they are strategically aimed at rebalancing decades of trade deficits. He explains that tariffs, when combined with tax and regulatory strategies, can strengthen domestic manufacturing and reduce dependency on adversarial trade relationships. He compares this approach to adjusting a basketball strategy at halftime—adaptability, not inconsistency, is the goal.

The conversation transitions into a broader discussion of “reglobalization,” where supply chains are being restructured for resilience instead of just low cost. Dr. Tompkins outlines how companies should evaluate where to locate operations based on industry clusters, such as semiconductors in Phoenix, Austin, and Columbus, or pharmaceuticals in Boston, New Jersey, and North Carolina. He stresses the importance of optionality—diversifying suppliers and manufacturing locations—and points out how tools and government resources can help small and mid-sized businesses adapt. He concludes on an optimistic note, saying uncertainty is lifting and businesses should stop waiting and start preparing.

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With over a decade of experience in Office and Industrial Real Estate Tenant/User Representation across Costa Rica and Central America, Alvaro has worked closely with leading multinational companies such as Roche, Microsoft, Penumbra, Pfizer, Auxis, DHL, and others with operations in the region.

He has collaborated both within his global firm and alongside competing firms that lack a direct presence in these markets—always respecting the source of business and prioritizing strong, long-term broker-to-broker relationships, regardless of the CRE firm involved. His specialties include site selection, buyer representation, build-to-suit (BTS) projects, and lease negotiations, all with the goal of helping companies secure the right space to support their growth and operations.

Recognized as a top producer in the region, he is actively expanding his network and building partnerships with brokers and companies interested in nearshoring to Costa Rica and Central America.

Connect with Alvaro:

LinkedIn: https://cr.linkedin.com/in/ajcortes

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In this episode of The Industrial Real Estate Show, Chad Griffiths interviews Charlie Stanton of Valley Advisory and Management to unpack the often overlooked but critical role of property management. With over 1.5 million square feet under management across Texas and Arizona, Charlie explains how property managers are the “catch-all” for maintaining properties, enforcing leases, resolving tenant issues, and mitigating risk, especially in industrial settings where unexpected problems like roof leaks, unauthorized modifications, and illegal dumping are more common than many owners realize.

Charlie emphasizes that great property management requires not just responsiveness but also deep knowledge of leases, maintenance, and financial reporting. He highlights how the industry has evolved from handwritten ledgers to sophisticated platforms like Yardi, which improve documentation and transparency. He also stresses the importance of regular site visits, clear communication with tenants, and understanding the full scope of responsibilities tied to commercial leases, especially for smaller tenants who often underestimate their obligations.

The conversation wraps with tips for landlords interviewing potential managers: ask about their workload, team structure, tenure, and software tools. Charlie also shares wild stories from the field, including discovering unauthorized mezzanine builds, dealing with vacant buildings, and handling risk scenarios like pothole claims. The big takeaway? Property management is far more complex (and influential) than most people think, especially in industrial real estate.

Connect with Charlie:

LinkedIn: https://www.linkedin.com/in/charles-stanton-cfa-b8172591

Valley Advisory & Management: https://www.vamcre.com/

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In this week's episode of the Industrial Real Estate Show I was pleased to be joined by industry veteran Ned Mahic to do a deep dive into Industrial Outdoor Storage (IOS)!

About Ned:

Ned is an experienced real estate developer and investor.

He has accumulated more than 20 years’ experience in acquiring, financing, developing, and investing in various real estate properties, ranging from condos, student housing, and self-storage to light industrial properties across North America.

As a business veteran, Ned is widely recognized for his ability to create stellar growth in a sustainable manner. Believing in the power of people, he has developed his own success formula: growth = scalable system + empowered employees. His leadership skills in constructing scalable “corporate machines” and unlocking people’s potentials will significantly contribute to the success of the firm.

He holds a Bachelor in Information Technology degree from American Intercontinental University.

Connect with Ned:

Website: https://www.9606capital.com/

LinkedIn: https://pr.linkedin.com/in/ned-mahic-a468a18

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In this episode of The Industrial Real Estate Show, I had the honor of interviewing Nick Huber about his new book and his entrepreneurial philosophy. We discuss why speed matters more than over-preparation early in a career, the danger of chasing status over real opportunity, and how decision-making and sales are critical muscles to build for long-term success.

About Nick:

Nick Huber is an entrepreneur and real estate investor who resides in Athens, Georgia with his wife and three children. He started his first business, Storage Squad in 2011 and grew it to 25 major college towns before he sold the business in 2021 for $1.7M. While running the service business, Nick built his first self storage facility in Ithaca NY from the ground up for $2.4M. That facility is worth over $10M+ today.

After Storage Squad, Nick started a real estate private equity and self storage operations firm called Bolt Storage. With his business partner Dan Hagberg, Bolt Storage now owns 2M square feet of self storage across 68 locations in 11 states. There is no mark to market in real-estate but the portfolio is worth well over $100M dollars today.

More recently, Nick acquired a controlling stake with a group of investors in Somewhere.com for $52 million dollars in May of 2024. Somewhere has helped over 3500 businesses hire more than 6000 remote workers for 80% less than US equivalents. The business has 200 employees located worldwide across 9 countries including the US, Latin America, South Africa, the Philippines and more.

In total, Nick’s businesses do more than $30 million in annual revenue and employ over 325 people. Alongside his portfolio of businesses, Nick is a content creator and has more than 780,000 followers across channels. Nick’s content has received more than 2 billion views online across platforms in the last few years.

Nick's companies / websites:

www.sweatystartup.com www.nickhuber.com

www.sweatystartupbook.com www.somewhere.com

www.boltstorage.com www.recostseg.com www.adrhino.com

www.spidexx.com www.boldseo.com www.webrun.com

www.titanrisk.com www.recruitjet.com

www.hubermethod.com

Connect with Nick:

www.x.com/sweatystartup

www.instagram.com/sweatystartup

www.linkedin.com/in/sweatystartup

/ sweatystartup

www.tiktok.com/sweatystartup

www.threads.net/@sweatystartup.com https://podcasts.apple.com/us/podcast...

https://podcasts.apple.com/us/podcast...

Link to buy the book on Amazon: https://amzn.to/4bLazjW

Link to buy the book in the UK: https://bit.ly/422njPW

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In this episode of the Industrial Real Estate Show, I sit down with Dave Riess, CEO of Wonder, to unpack the real-world opportunities and challenges of putting solar on industrial rooftops. From navigating aging roofs and structural concerns to understanding how rooftop solar can boost NOI, Dave explains it all in plain language. We also dive into how demand for electricity is rapidly outpacing supply — and why smart real estate owners should start thinking about solar and power infrastructure now. Whether you're solar-curious or already deep in the weeds, this conversation is packed with practical insights and surprising takeaways.

About Dave:

Dave holds a B.A. and B.S. in Electrical Engineering from the University of San Diego. Before co-founding Wunder in 2014, he worked in platform development for venture-backed technology organizations and with the Lawrence Berkeley National Laboratory's Energy Technologies and Grid Integrations divisions. Under his leadership, Wunder has managed over $1 billion in commercial and industrial solar transactions.

Connect with Dave:

LinkedIn: / davidriess

Website: https://www.wunderpower.com/

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Tune in to this week's episode of the Industrial Real Estate Show to hear why @RonaldRohdeLaw is selling a couple of his industrial properties.

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In this week's episode of the Industrial Real Estate Show, I sit down with Colin Clish, President of PointOne Data Centers to explore the complexities and hidden details of developing data centers.

We discuss everything from site selection and power management to cooling systems, connectivity requirements, and critical design considerations. Whether you're new to data centers or a seasoned professional, this conversation offers valuable insights into what it really takes to build and operate these crucial facilities.

About Colin:

As President, Colin directs and manages PointOne’s strategic vision, scaled growth and development opportunities, and leads real estate execution across our portfolio. Colin draws on nearly 22 years of diversified commercial real estate experience managing the entire development process from project conception through leasing and asset sales. He is passionate about bridging traditional commercial real estate development models with the unique needs of digital infrastructure development. Prior to co-founding PointOne, Colin owned his own commercial real estate development company following a tenure at Remington Development Corporation. Throughout his career, Colin has over $325 million in asset sales of investment grade commercial real estate and has developed over 1,000-acres of land. Colin holds a diploma in Urban Land Economics from the University of British Columbia. Outside of the office, Colin is an avid outdoorsman who enjoys skiing, mountain biking, and time at his cabin with family.

Connect with Colin:

PointOne Website: https://www.pointonecorp.com/

Colin's LinkedIn: https://ca.linkedin.com/in/colin-clish-3bb50619

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In this episode of the Industrial Real Estate Show, I spoke with Sean Dalfen, CEO of Dalfen Industrial. We explored his recent significant deals, particularly a large partnership with Goldman Sachs, expanding their portfolio with strategic acquisitions across key logistics hubs like Dallas, Philly, Vegas, and Cincinnati. Sean highlighted the importance of multi-tenant, mid-bay industrial facilities that offer flexibility, emphasizing the critical role labor availability plays in site selection.

He shared insights on the nuances of Last Mile logistics, emphasizing the value of minimizing labor and transportation costs. We also discussed how automation and AI are gradually influencing industrial operations, though labor remains critical. Lastly, Sean highlighted the volatility in today's market and reinforced the necessity of disciplined investing, stressing the importance of acquiring assets below replacement cost in strategic locations.

About Sean:

Sean Dalfen is the President and Chief Executive Officer of Dalfen Industrial and leads the firm’s investment committees and management committees across its platforms. Under Sean’s leadership, Dalfen Industrial’s portfolio has grown to over 50 million square feet of industrial properties from coast to coast, making it one of the nation’s largest owners and developers of industrial real estate and a leader in the last mile sector. Over his career, Sean has transacted on an excess of $10 billion USD. Prior to Dalfen Industrial, Sean worked at NAI Commercial as an Investment Sales Broker where he was one of the company’s Top 10 producers in Canada.

Sean is involved in a variety of philanthropic activities, sits on the boards of multiple charitable organizations and is a frequent speaker and panelist at private equity & commercial real estate industry events. Sean studied Psychology and Finance at Tel Aviv University’s Lowy School and McGill University.

Dalfen Industrial website: https://www.dalfen.com

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On this episode of the Industrial Real Estate Show, I had the honor of interviewing crowd favorite Aaron Halfacre. Aaron is CEO of Motive Industrial, a REIT focused on single-tenant, net-lease manufacturing properties across the U.S.

We discussed the unique benefits and risks of manufacturing real estate compared to typical industrial properties like warehouses. Aaron explained Motive’s investment criteria, emphasizing stable assets essential to infrastructure, long-term leases (around 20 years), and sustainable rent structures. He also highlighted strategies for diversification and managing risks.

We explored the challenges and opportunities in sale-leaseback transactions and how Motive evaluates properties, including considerations like low site coverage and proximity to transportation. Aaron touched on key financial metrics for REITs, including AFFO, and addressed the current gap between public market valuation and private net asset values.

We wrapped up by discussing the impact of tariffs and interest rates, stressing the importance of patience and disciplined investing amid market volatility.

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I don't mince words when I say this:

Bob Knakal is the Greatest of All Time.

An amazing broker and an even better person, I was honored to be joined by him again where we did a deep dive into how he has built a legendary career on the foundation of prospecting for new clients.

About Bob:

Bob Knakal also known as "BK" has been a broker in NYC since 1984. Over that time, he has brokered the sale of over 2,341  buildings having a market value of approximately $22 billion.

For 26 years of those years (1988-2014), he owned and ran Massey Knakal Realty Services, which sold more than 3x the number of properties as the #2 firm in NYC from 2001-2014. Running the firm with a Servant Leadership management style, focusing on empowering everyone on the team, intensely training them, and building their self-esteem, led to this overwhelmingly dominant platform. The firm was sold to Cushman & Wakefield in 2014 for $100 million.

The Massey Knakal Legacy is illustrated by the fact that today in the New York City investment sales market, there are 30 companies, or divisions of companies, that are either owned by, or run by, folks who learned the business at Massey Knakal. 

Bob is a prominent thought leader in the commercial real estate business, frequently writing about the market, lecturing on the market, and appearing on podcasts and national television shows on networks like Fox, CNBC and MSNBC.

Connect with Bob:

Website: https://www.bkrea.com/

LinkedIn: https://www.linkedin.com/in/bobknakal

X: https://twitter.com/BobKnakal

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Also pleased to note that I will be collaborating with Terrakotta.ai on a number of future videos. I've been using their system for the past several months and enthusiastically recommend them.

It's a web-phone that uses personalized AI voicemails to double the number of contacts you can engage over the phone. Voicemails left using Terrakotta are personalized to every contact and generate more callbacks than generic scripts.

Check them out here: https://www.terrakotta.ai/

Was honored to be joined by Justin Horowitz from Cooper Horowitz to do a deep dive into Industrial Outdoor Storage!

About Justin:

Justin Horowitz works at Cooper Horowitz, a family-owned capital markets advisory firm, where he specializes in debt and equity placement throughout the country. Prior to Cooper Horowitz, Horowitz worked at Savills Studley on the New York investment sales team, and worked at Brickman where he focused on the management and leasing of their New York office portfolio.

Connect with Justin:

LinkedIn: https://www.linkedin.com/in/justin-horowitz-a62a2a64

Website: https://www.cooper-horowitz.com/

IOS List: https://ioslist.com/?utm_source=news.ioslist.com&utm_medium=newsletter&utm_campaign=ios-weekender-february-22-2025&_bhlid=78e90dfa33e764b1dc1d879ddac9620ed159337e

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In this week's episode of the Industrial Real Estate Podcast I was pleased to be joined by David Hoffman, a veteran supply chain expert and real estate investor.We chatted about a number of fascinating topics that should be on your radar in 2025!Connect with David:Website: https://hoffmansupplychainadvisors.com/

David's Youtube: https://www.youtube.com/@SupplyChainandLogisticsHub-q7d

LinkedIn: https://www.linkedin.com/company/hoffman-supply-chain-advisorsAbout David:David Hoffman is a seasoned supply chain veteran focusing on transportation & logistics practices. He started his career at C.H. Robinson (CHRW) and worked with companies and private equity firms in various industries on multiple freight initiatives. Many of these projects focused on complete outsourcing of transportation functions, vendor management, KPI development, annual procurement exercises, cross-border solutions, and reverse logistics.After success on the transportation side, David moved over to the shipper side and worked for Puratos Corporation, a global food ingredient manufacturer. During his time David oversaw and implemented a full transportation outsource of all 3rd party freight within the US, developed industry standard KPI’s that were adopted by the company’s C-suite and board members, crafted new freight contracts and bill of ladings to meet industry standards, oversaw multiple RFP cycles, developed a claims mitigation process recouping hundreds of thousands of dollars, and introduced optimization & modal conversion practices that yielded millions in savings over the course of his career.Today, David is taking his knowledge and is focusing on working with small businesses and private equity firms. The objective is to assist these companies in making sense of their supply chains by streamlining processes and creating efficiencies to keep them competitive and profitable. With a hands-on approach and a deep understanding of industry challenges, David is committed to delivering tailored solutions that drive sustainable growth. His expertise ensures that businesses can navigate complex supply chain dynamics with confidence and achieve long-term success.

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Honored to be joined by Trey Pennington on this week's episode of the Industrial Real Estate Show.

In addition to being a top producing broker with the prestigious SIOR designation, Trey has a law degree, international Masters of Business Administration and 3 (!!) bachelor degrees.

Trey and I chatted about a number of topics, including the state of South Carolina's industrial market, challenges found in big box warehousing, and the healthy demand for small bay industrial.

About Trey:

Trey joined CBRE in April 2007, from KPMG where he advised multinational corporations in international tax compliance and valuation of corporate assets for business combinations. Prior to working with KPMG, Trey worked for COPA Airlines in Panama as a process management consultant. While earning his post graduate degrees in both International Business and Law, Trey had the opportunity to work at two Columbia, South Carolina law firms performing real estate legal analysis and at the SC Department of Commerce assisting in tax incentive consulting.

Connect with Trey:

CBRE Profile: https://www.cbre.com/people/trey-pennington

LinkedIn: https://www.linkedin.com/in/trey-pennington-jd-imba-a4418910

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An honor to co-host this episode of the Industrial Real Estate Podcast alongside Matt Carroll and the iconic supply chain thought leader, Dr. Jim Tompkins. This episode dives into key issues shaping global supply chains and industrial real estate, offering insights you won’t want to miss: • Election Impact: How the current political landscape—and a potential new Trump era—could reshape global supply chains. • The Power of Optionality: Strategies for navigating uncertainty and staying agile in a fast-changing world. • Industrial Real Estate Trends: How shifts in trade, manufacturing, and policy are influencing warehouse locations. • 3PLs in the Spotlight: Why third-party logistics providers are uniquely positioned to thrive amid these changes. • Macroeconomic Implications: Broader trends affecting manufacturing, logistics, and industrial sectors. This was an insightful and dynamic conversation packed with valuable takeaways. Whether you’re in supply chain, industrial real estate, or just trying to stay ahead of the curve, this episode will have something for you! Connect with Matt: https://www.linkedin.com/in/matthewcarroll1/ Connect with Jim: https://www.linkedin.com/in/jimtompkins1/ About Jim: Dr. James A. Tompkins is an international authority on designing and implementing end-to-end supply chains. Jim is an entrepreneur who has started 15 businesses that have done over $2 billion in revenue, worldwide, during his 50-year career. Jim is known for his ability to make the complex, simple and turning chaos into order. His passion is to help people and help organizations achieve their goals. In April 2020, he founded Tompkins Ventures, a global hands-on solutions network that helps executive teams turn Entrepreneurship, Facilities, Leadership, Logistics, and Technology problems and opportunities into competitive advantage. He founded Tompkins Leadership in 2022, focusing on Leadership Development, Organizational Transformation, Strategy & Innovation. He previously built Tompkins International from a backyard startup into an international consulting and implementation firm. Jim also recently became Chairman of Task4Pros, a digital platform that connects warehouse service jobs with a base of registered professionals. 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. --

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Warehouse racking might seem like a fairly simple topic, but after hearing from Jonathan Hirst, I've realized it's far more complex than I would have thought!

Not only are there crucial safety considerations, there are also numerous factors that need to be taken into account.

About Jonathan Hirst, P. Eng – Vice President and General Manager of North American Storage, Vice President of Hi-Cube Storage Products:

Jonathan Hirst has worked as a prominent figure at NAS and the Industrial Storage Industry as a whole for over a decade. He is currently the Vice President and General Manager of North American Storage, as well as Vice President of Hi-Cube Storage Products in Western Canada.

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Kyle Reiling, the Executive Director of the Greenview Industrial Gateway, will be quick to point to the numerous people who played important roles in Kevin O'Leary's announcement to building the world's largest data center. And there was surely a bit of good luck involved as well. But as modest as Kyle is, he has been the driving force behind getting an expansive land parcel assembled (which is unique to North America). Or as Kyle himself says, this is the only site like it anywhere in the world. In this interview we talked about the challenges getting it to this stage as well as how they've solved some of the major problems involved with data centers, including adequate power, water and internet. I was skeptical this plan would go forward prior to speaking with Kyle, now I'm convinced this will go forward (only time will tell if it's done by O'Leary or another entity altogether). Let me know your thoughts after you watch and see if it's changed your mind at all (either in favor or against it happening!) About Kyle: Kyle’s economic development experience spans 25 years, with a central focus on industrial growth. His comprehensive knowledge of industrial developments in Alberta was a key factor in this move. Specifically, his past roles and activities include Manager of Industrial Development for Strathcona County, Manager of Economic Development and Tourism at Sturgeon County, Manager of Transportation and Logistics for the City of Calgary, Vice President of Landrex Developments and Director of Industrial Development at WSP. During his time at the municipal level, Kyle worked on business expansion and attraction projects, including Shell Scotford, Aux Sable, North West Redwater Partnership, and the IPPl Petrochemical Complex. Previous committee experience includes terms representing the combined Alberta Industrial Heartland Association and Province of Alberta Linear Infrastructure Corridor Committee. Kyle was also a Member of the Provincial-led Chemical Cluster Strategy Team working with the AIHA and the Province of Alberta. Connect with Kyle: LinkedIn: https://ca.linkedin.com/in/kyle-reiling-0755b71ba Greenview Industrial Gateway: https://greenviewindustrial.ca/ Read more: https://mdgreenview.ab.ca/media-release-ai-data-centre-gig/ https://mdgreenview.ab.ca/media-release-wonder-valley-project-a-regional-triumph-in-collaboration-and-economic-growth/# https://mdgreenview.ab.ca/wp-content/uploads/2023/10/Tri-Municipal-Industrial-Partnership-ASP_21-867_Active.pdf -- 🙋‍♂️ Chad Griffiths 🚩 Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

Jim Belosic is an industrialist. With a background in software, he applied what he learned in that industry towards a traditional (and seemingly outdated) industry: manufacturing. He was frustrated with how difficult it was to get a one off part, so he bought a laser cutter with the intent of doing small jobs to offset his costs to run it for himself. Fast forward to today and SendCutSend now offers custom sheet metal parts in as little as 2 days. They have 260 employees and 3 strategic locations across the US (with plans to add 2 more). In this chat we dove into how Jim looks at industrial real estate as an important component of their business. Jim provides a ton of insight from the perspective of the company occupying a building!

- 🙋‍♂️ Chad Griffiths 🚩 Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

PwC recently released their 46th edition of their Emerging Trends in Real Estate which also included a separate report for Canada (the 20th version). This is a must read report for anyone involved in the commercial real estate industry. To discuss their findings for 2025 I was pleased to be joined by Fred Cassano, Partner and the National Real Estate Leader with PwC Canada. We discussed the current state of the market as well as what they expect to transpire in 2025. About Fred: Fred provides strategic business and tax advice, including structuring of personal and corporate transactions and reorganizations, assistance with shareholder/owner remuneration and designing tax-effective strategies for wealth preservation and accumulation in the context of tax, estate and succession planning. As the National Real Estate Tax Leader, Fred dedicates most of his time servicing the real estate sector and has experience in effective tax planning for the acquisition, ownership, leasing and disposition of real estate and structuring / restructuring partnership and joint venture arrangements. His real estate clients are involved in residential, industrial and commercial development and the ownership of office, industrial and residential properties. Together with technology partners, Fred also assists in developing strategies and structures for PropTech related ventures. Fred is a Chartered Accountant and a graduate of York University's Schulich School of Business. Connect with Fred: https://ca.linkedin.com/in/fredcassano Reports: PwC Emerging Trends in Canadian Real Estate: https://www.pwc.com/ca/en/industries/real-estate/emerging-trends-in-real-estate.html PwC Emerging Trends in Real Estate: https://www.pwc.com/us/en/industries/financial-services/asset-wealth-management/real-estate/emerging-trends-in-real-estate.html PwC Emerging Trends in Real Estate Europe: https://www.pwc.com/gx/en/industries/financial-services/real-estate/emerging-trends-real-estate/europe.html -- 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

Joel Friedland is one of my favorite people in the industrial real estate market.

I was pleased to have interviewed him a couple years ago and we were well overdue for a follow up interview.

In this captivating interview Joel provides a ton of insights into the state of the market!

About Joel:

Joel has a 42 year track record in industrial real estate. He co-founded Epic/Savage Realty Partners in 1991 where he oversaw hiring and mentoring 60 industrial real estate professionals, many of whom became his partners. His group sold the firm to an international real estate company in 2014 and Joel started Brit Properties.

As an industrial real estate broker and owner, Joel has secured over 2,000 industrial property leases and sales, totaling over $2 billion in transactions. His greatest accomplishment is maintaining valued relationships with brokers, tenants and investors spanning five decades.

He does fully syndicated deals with 0% debt, an unheard of approach in real estate which caters to his wealthy investor base primarily concerned with conservation of principal. His experiences during the Great Recession in 2008 have informed his investment approach to be hyper-conservative while still allowing an ~8% cash return, plus upside, for his investors.

Joel attended the University of Michigan. He enjoys playing golf and spending time with his family, particularly his three young grandchildren.

Connect with Joel:

(847) 345-5534

joel@britproperties.com

LinkedIn: https://www.linkedin.com/in/joel-friedland-sior-5508a791

Website: https://britproperties.com/

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In this week's episode I was honored to be joined by Zane Hengsperger as we talked about all things manufacturing.

Here's what we chatted about:

0:00 – Introduction

2:59 – What’s interesting in manufacturing?

4:41 – Can we de-throne China as the World’s Factory?

9:21 – Automation vs manual labor

12:32 – Software integration

13:37 – Anduril

17:42 – What industries are interesting?

19:45 – Solving labor shortages

23:15 – Reindustrialize

24:08 – Make Manufacturing Cool

28:08 – Site selection

29:38 – Evaluating a business and the real estate

34:29 – What makes or breaks a company?

36:40 – Optimizing factory space

43:43 – X Accounts to follow

Links to the accounts Zane mentions:

https://x.com/aphysicist

https://x.com/MikeSlagh

https://x.com/JulianFried

https://x.com/rustbeltkid1

https://x.com/snowmaker

https://x.com/KennethCassel

https://x.com/jack_watson_hfw

https://x.com/jimbelosic

https://x.com/2112Power

https://x.com/PalmerLuckey

https://x.com/zanehengsperger

https://x.com/techbrospod

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🙋‍♂️ Chad Griffiths

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In this week's episode of the Industrial Real Estate Show I had the honor of being joined by the 2025 Chair of NAIOP, Alex Thomson.

I'm a big advocate of NAIOP and have the pleasure of calling Alex a friend, so this week's episode was quite special!

About Alex:

Alex Thomson is a passionate advocate for the commercial real estate industry. A long-standing contributor to the Edmonton chapter board, Alex also serves as the chapter's representative on the NAIOP North America board. He holds the distinction of being the first ever Canadian Chair-Elect of NAIOP North America and is slated to serve as the association's Chair in 2025.

With two decades of experience in commercial real estate, Alex has gained expertise in every aspect of the business, spanning acquisitions, entitlements, development, financing and dispositions. His professional journey has seen him involved in over $2 billion worth of transformative commercial real estate projects.

Alex is the founder of Prevail Consultants, offering strategic guidance as a trusted advisor and fractional executive for companies and entrepreneurial owners alike. He is a Fellow of the Royal Institution of Chartered Surveyors and a member of the Executive Board of the Centre for Cities and Communities at the University of Alberta.

Connect with Alex:

Prevail Consultants: https://prevailconsultants.com/

NAIOP: https://www.naiop.org/about-us/bio-detail-page/?bio=cb2b9439-ff0f-4757-b420-1514add9a05a

LinkedIn: https://ca.linkedin.com/in/alex-thomson-b931004

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Pleased to be joined by Matt Carroll once again as we co-hosted a part II interview with Dr. Jim Tompkins.

We chatted about a number of fascinating topics:

0:00 - Introduction

1:05 - What's going on in Supply Chains?

10:28 - Can Mexico Fix Supply Chain Snarls?

14:53 - Government Hard at work

17:05 - Onshoring trends

22:25 - Optionality, China plus One, ABC

27:53 - An economic war with China

32:39 - Will Companies leave China?

36:40 - How to stay on top of developing trends

43:20 - Areas of Growth

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.

Connect with Jim:

Tompkins Ventures website: https://tompkinsventures.com/

LinkedIn: / 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.

Connect with Matt on LinkedIn: / matthewcarroll1

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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

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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

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This week I had the opportunity to interview Phil Copulsky, Director of Private Capital for Westmount Realty Capital.

We chatted about industrial real estate with timestamps as follows:

0:00 - Introduction

2:15 - Why industrial real estate

7:22 - What questions come up regularly

12:18 - Who leases industrial spaces?

17:18 - Average tenant profile

19:18 - Identifying markets

30:35 - Downside risk

35:55 - Class B forecast

40:23 - Identifying buildings

43:42 - What do tenants want?

49:39 - What questions should people be asking?

About Phil:

Before he committed to real estate investing, Phil Copulsky, CFA was a competitive chess player and college basketball player, both instilling the necessary discipline to read like Buffett, focus on developing long-term relationships, and follow the lead of great mentors.

Phil is current a Director, Private Capital at Westmount Realty Capital, LLC, where he supports new equity capital raising initiatives and individual deal fundraising campaigns. He has over 10 years of experience in financial services, starting his career at Goldman Sachs. He has degrees from Hobart and Williams Smith Colleges and the University of Texas at Austin and is a CFA charterholder.

Connect with Phil:

LinkedIn: https://www.linkedin.com/in/phil-copulsky-cfa

Website: https://westmountrc.com/

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🙋‍♂️ Chad Griffiths, MBA, SIOR 🚩 Subscribe: https://www.youtube.com/@industrialize?sub_confirmation=1 📢 Join the Industrial Insiders Community: https://industrialize.com/membership

My most popular podcast episode was with the UK's Most Hated Sales Trainer, Benjamin Dennehy.

So naturally I had to have him back for a second episode!

We chatted about all types of important topics, including how to get over call reluctance, what to say during the call, and what the objective of a good call should be.

Here's episode 1 if you missed it: https://youtube.com/live/W77G6nIywE0?feature=share

Learn more: https://salesmatrixcourses.com/

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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/

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Pleased to be joined by Doug Kiersey for part II of our discussion about industrial real estate.

We jumped deeper into the current state of the market and discussed investor appetite, market values, trends and even made a few predictions!

Here's part 1 if you missed it: • A Deep Dive into Industrial Real Esta...

About:

Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company’s operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company’s Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion.

Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years.

Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR).

Dermody Properties website: https://dermody.com/

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This week I had the honor of being joined by Douglas Kiersey, CEO & President of Dermody Properties.

We had a fascinating chat about the industrial real estate market and Doug shared many great insights that he's gained from purchasing and developing over $8B worth of warehouses and distribution centers.

About:

Douglas A. Kiersey, Jr., is CEO and President of Dermody Properties and oversees all of the company’s operations and strategic initiatives including capital formation, acquisition, development, and investment management activities. He is a member of the Dermody Properties Advisory Board and chairs the company’s Executive and Investment Committees. Since Mr. Kiersey joined the company in 2011, Dermody Properties has developed and acquired industrial logistics assets with an aggregate value in excess of $8 billion.

Mr. Kiersey has more than 35 years of experience in logistics properties in major U.S. markets. Prior to joining Dermody Properties, he spent 17 years at Prologis in various senior roles. Prior to joining Prologis, Mr. Kiersey worked at Cushman & Wakefield for 11 years.

Mr. Kiersey earned his Bachelor of Science degree in business administration from Oregon State University, and an M.B.A. from the J.L. Kellogg Graduate School of Management at Northwestern University where he is an occasional guest lecturer and a member of the Kellogg Real Estate Advisory Council. He is also a member of the Urban Land Institute (ULI) and the Society of Industrial and Office Realtors (SIOR).

Dermody Properties website: https://dermody.com/

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I had the pleasure of talking with Ronald Rohde about a recent acquisition of his where he purchased an industrial outdoor storage site.

About Ron:

Ron Rohde is an experienced investor, commercial real estate attorney and a Texan with a long history in north Texas real estate.

As soon as he had a driver’s license, he was delivering keys to tenants, supervising contractors, or delivering notarized closing documents for a variety of rental properties.

With both parents as licensed real estate brokers and mortgage lenders, it was a natural evolution to advise clients on real estate transactions.

Ron learned Mandarin Chinese growing up and has fully fluent staff who read and write Chinese.

Connect with Ron:

Website: https://ronaldrohdelaw.com/

YouTube: @RonaldRohdeLaw

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In this week's episode of the industrial real estate show I was honored to be joined by Zach Harris and Hunt Rose from TruCore Investments.

Zach and Hunt are two of my favorite guys in the industry and they focus on investing in class B industrial real estate.

About Zach:

As Managing Director and one of the co-founding partners, Zach is responsible for the leadership, growth, and strategic direction of the company while also overseeing the investment and operational functions. Prior to TruCore, Zach was a Director at Stan Johnson Company for over 12 years, where he specialized in net lease industrial investment sales brokerage for clients nationwide and contributed to the closing of over $5.0 billion in transaction volume. Harris earned his B.S. in civil engineering from Villanova University and his master’s degree in business administration from the University of Oklahoma.

About Hunt:

As Investments Director and a co-founding TruCore member, Hunt oversees investments, financial underwriting, due diligence, and assists in origination of new investment opportunities. Prior to TruCore, Rose was an Associate Director at Stan Johnson Company specializing in providing equity capital solutions for new real estate development projects nationwide. Rose contributed to the capitalization of more than $2.5 billion in transaction volume and placement of over $200 million inequity capital. Rose started his career with Deloitte in the Hedge Fund and Private Equity Advisory Group in Dallas, TX. Rose obtained a Certified Public Accountant designation and earned a master’s degree in business administration from Oklahoma State University.

Zach on LinkedIn:

/ zacharystevenharris

Hunt on LinkedIn:

/ hunt-rose-9229694b

TruCore Investments website: https://www.trucoreinvestments.com/

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🙋‍♂️ Chad Griffiths, MBA, SIOR

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In this interview I was joined by Jonathan Hayek from Endurance Properties. Jonathan shared his story on how he transitioned from residential to industrial real estate investing and also provided some tips on how others can do the same.

About Jonathan:

Worked in the teaching and non-for-profit world for ~10 years. While still teaching, started flipping houses and investing in small multifamily to pursue financial and time freedom. Now an owner/operator of multi family, commercial, and industrial real estate as well as the host of The Source of Commercial Real Estate Podcast, the leading interview-based podcast dedicated to non-residential commercial real estate.

Connect with Jonathan:

LinkedIn:

/ jonathan-hayek-cre

Podcast: https://podcasts.apple.com/us/podcast...

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