Puget Sound Industrial Real Estate: 2024 Review & 2025 Forecast
Release Date: 01/15/2025
Navigating Market Shifts in Industrial Real Estate
Industrial Advisors
In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor talk with Deb Szima, MBA and former VP of Real Estate, Construction, and Facilities at SRS Distribution. Deb shares her journey of transforming and centralizing the corporate real estate function at SRS amid its rapid growth through acquisitions. The conversation delves into the important interplay between lease administration, transactions, facilities, and construction, and the challenges of managing real estate in a fast-evolving industrial market. Deb discusses her initial focus areas, including...
info_outline
Top Lessons from Rising Stars in Industrial Real Estate
Industrial Advisors
In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor revisit one of their most popular episodes featuring promising young brokers Kyle Back and Chloe Heiligenstein. They discuss the duo’s rapid career advancements, work ethic, and innovative approaches in the commercial real estate industry. Kyle and Chloe share their strategies for success, the impact of their early career efforts including networking and education and adapting to industry changes during the pandemic. This episode highlights their impressive accomplishments, dedication, and the evolving...
info_outline
2025 Industrial Real Estate Trends You Need to Know
Industrial Advisors
In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by Craig, the National Director of Industrial Research, to discuss the state of the industrial real estate market halfway through 2025. They cover key topics such as national tenant demand, vacancy rates, market bifurcation, the impact of new supply and construction, and the trends in subleasing. Craig provides insights into the markets facing challenges and those that are stabilizing, as well as data on the major industries driving occupancy. The episode concludes with predictions for the...
info_outline
How to Hire the Best Co-Broker for Your Client
Industrial Advisors
In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss the key considerations for hiring co-brokers, especially when representing clients in different markets. They emphasize the importance of generosity and fair compensation, understanding the specific requirements of the task, and conducting thorough vetting and interviews to select the right broker. Transparency, early conflict checks, and clear communication about fee splits are also highlighted as crucial steps in ensuring smooth and successful collaborations. 00:00 Introduction and Importance of...
info_outline
How Digital Twins Revolutionize Manufacturing Facilities
Industrial Advisors
In this episode of the Industrial Advisors podcast, recorded live from the IAMC conference in Sacramento, the hosts speak with Michael Verdier, a partner at BHDP Architecture with over 35 years of experience in designing manufacturing facilities. Michael discusses the evolution of industrial manufacturing in the U.S., focusing on the importance of efficient facility design, plant simulation, and digital twin technology. He emphasizes the role of sophisticated planning in optimizing production lines and capacity, as well as the necessity of creating attractive and functional spaces to retain...
info_outline
Retrofitting Obsolete Spaces
Industrial Advisors
In this episode of the Industrial Advisors podcast, the hosts discuss the concept of transforming obsolete industrial spaces into desirable tenant properties through retrofitting. They examine examples of successful projects in Tacoma, Auburn, and South Seattle, such as IRG's redevelopment of the Super Value site and the LIFT project at the old Sears building. The conversation also covers the significance of such projects in land-scarce markets, the trends of downsizing large industrial parks like 212 Business Park, and the ongoing viability of these transformations in the current market. The...
info_outline
WarmCaller: The Ultimate Tool for Industrial Brokers
Industrial Advisors
In this episode of the Industrial Advisors podcast, hosts Matt McGregor and Bill Condon are joined by Kyle Back and discuss their innovative software, WarmCaller. This tool is designed to make cold calling more efficient by leveraging AI technology to gather and rank relevant news articles overnight, providing timely and specific leads for outreach. They explain how WarmCaller integrates with databases like Salesforce and HubSpot, scrapes through news sources, and customizes rankings and email drafts based on user preferences, ultimately boosting brokers' effectiveness and differentiation in...
info_outline
AI in Industrial Real Estate
Industrial Advisors
In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by AI futurist Zach Krass, former head of GTM at OpenAI. Recorded from a Manhattan café, Zach shares insights on the rapid advancement of AI, its impact on scientific discoveries, and the misconceptions surrounding job displacement due to automation. Discussing the emotional and economic implications of AI, Zach emphasizes the importance of finding purpose outside work and the rise of the experiential economy. He also touches on the future of industrial real estate in a tech-driven world....
info_outline
Puget Sound Leasing Surges: 1.3M Sq Ft Signed!
Industrial Advisors
In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss the recent surge in leasing activity in the Puget Sound market over the past three to four weeks. They highlight key deals amounting to 1.3 million square feet, including a significant 612,000-square-foot expansion in Tacoma, as well as notable sports-related leases in tennis and pickleball. They also touch on the geographical spread of these activities across different cities in the region and the positive absorption in a market facing uncertainty. 00:00 Introduction and Recent Activity...
info_outline
Embracing VUCA: The New Normal in Industrial Real Estate
Industrial Advisors
In this episode of the Industrial Advisors podcast, hosts Bill and Matt discuss the theme of embracing change amidst constant disruption with Jodie Poirier, President of Occupier Services. They reflect on the significant events of the past five years, such as COVID-19 and geopolitical tensions, as well as the enduring volatility, uncertainty, complexity, and ambiguity (VUCA) that have become the new normal. Jodie shares her thoughts on navigating strategic changes in the industrial real estate sector, insights from Jeff Bezos on focusing on what won’t change in the next decade, and the...
info_outlineIn 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