Industrial Insights

De: Justin Smith
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  • Resumen

  • Industrial Insights is a podcast that highlights the market dynamics, high level strategies, and in the trenches tactics for tenants and owners of industrial real estate. Each episode is designed to take hard fought wisdom from practitioners and break it down into insights that can drive better commercial real estate decision making. The host, Justin Smith, shares his experiences from 16 years in the business and brings in industry experts to discuss critical aspects of successful industrial projects.
    Copyright 2021
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Episodios
  • Scaling An Industrial Real Estate Portfolio with Michael Bucci

    Scaling An Industrial Real Estate Portfolio with Michael Bucci
    Sep 6 2024
    Michael Bucci, an investor in the industrial asset class, shares his journey and approach to investing in industrial real estate. He focuses on value-add properties for warehousing and distribution, with a preference for multi-tenant spaces. Bucci emphasizes the importance of understanding the market and the needs of the owners when approaching deals. He also discusses the financing process, including bridge loans and long-term loans. Bucci highlights the resilience of the industrial real estate market and the need to adapt to different market cycles. In this conversation, Michael Bucci discusses his experience in real estate acquisitions and the challenges he faced. He talks about how he navigated the market during the COVID-19 pandemic and the strategies he used to educate and negotiate with sellers. Michael also highlights the differences between the Canadian and US real estate markets, including tax advantages and market size. He shares examples of successful deals and explains his future plans for expanding his business. The conversation concludes with a discussion on the potential for condo conversions in the multi-tenant industrial sector. Key Takeaways Understanding the market and the needs of owners is crucial in industrial real estate investing. Value-add properties with upside potential are preferred, especially those with low rents, expiring leases, or vacancies. Bridge loans are often used to finance value-add acquisitions, with refinancing as a long-term strategy. Adapting to different market cycles and structuring deals strategically is key to success in industrial real estate investing. Navigating the real estate market during challenging times requires creativity and flexibility. Educating sellers on the current market conditions and the value of their property can help facilitate deals. The Canadian and US real estate markets have different tax advantages and market sizes. Successful deals can be achieved by finding unique opportunities and leveraging seller financing. Condo conversions can be a profitable strategy in the multi-tenant industrial sector. Chapters 00:00 - Introduction and Background 03:00 - Investing in Industrial Real Estate 07:36 - Finding Value-Add Opportunities 17:40 - Staying on as an Equity Partner 19:25 - Building an Acquisitions Pipeline 22:21 - Catering to Owner Needs 26:25 - Financing Strategies 28:25 - Adapting to Market Cycles 31:06 - Educating Sellers and Negotiating Deals 34:42 - Differences Between the Canadian and US Real Estate Markets 45:42 - Successful Deals and Future Plans 50:49 - The Potential for Condo Conversions in the Multi-Tenant Industrial Sector Resources Connect with Michael Bucci https://www.linkedin.com/in/michael-bucci-real-estate/ https://investingrealestate.com/ Connect with Justin Smith https://smithcre.com/https://www.lee-associates.com/jbsmith@leeirvine.comhttps://www.linkedin.com/in/justinbsmith
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    57 m
  • Data Driven Supply Chain Modeling with Ralph Asher

    Data Driven Supply Chain Modeling with Ralph Asher
    Sep 4 2024
    In this episode, Justin Smith interviews Ralph Asher, an expert in network design and optimization. Ralph shares his background working at Target and General Mills, where he focused on supply chain design. He discusses the challenges and opportunities of network design during mergers and acquisitions, as well as the importance of data management in the process. Ralph also talks about his experience at Target, where he worked on omni-channel and last-mile e-commerce network design. He then shares his transition to independent consulting and the importance of marketing and sales in running a consulting business. Ralph Asher discusses the transition from working in-house to running his own consulting agency and the types of projects his team works on. They specialize in supply chain design, inventory optimization, network design, manufacturing optimization, and data analysis. They work with a wide range of sectors, but the common thread is that their clients want a data-driven approach. Ralph also highlights the importance of data in making supply chain decisions and dispels the misconception that perfect data is necessary. He emphasizes the impact of their projects, such as opening new facilities and changing organizations' approach to inventory optimization. Ralph discusses the handoff process and the role of supply chain project managers in executing the recommendations. He also mentions the increasing trend of using supply chain models for shorter-term decision-making. Key Takeaways Network design and optimization play a crucial role in supply chain decision-making, especially during mergers and acquisitions. Data management is a significant challenge when integrating supply chain models from different companies during M&A. Omni-channel and last-mile e-commerce network design require innovative approaches and considerations for proximity to customers. Transitioning to independent consulting requires a focus on marketing, sales, and business administration in addition to supply chain expertise. Professional networks and public speaking engagements are effective sources of business for independent consultants. Transitioning from in-house to running a consulting agency involves working on a wide range of projects for different organizations. Supply chain design, inventory optimization, network design, and manufacturing optimization are some of the key projects Ralph's team works on. Their clients value a data-driven approach and are willing to provide data for analysis and recommendations. Data quality is not a barrier to making supply chain decisions, and even limited data can be used to make strategic insights. The impact of their projects includes opening new facilities and changing organizations' approach to inventory optimization. Supply chain project managers play a crucial role in executing the recommendations and coordinating with stakeholders. Supply chain models can be used for shorter-term decision-making and provide insights for adjusting strategies. Ralph emphasizes the importance of professional development for individuals working on supply chain projects. Connect with Ralph Asher https://www.linkedin.com/in/ralphasher/ https://datadrivensupplychain.com/ Connect with Justin Smith https://smithcre.com/https://www.lee-associates.com/jbsmith@leeirvine.comhttps://www.linkedin.com/in/justinbsmith
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    33 m
  • The Importance of Relationships in Value Add Industrial Real Estate with Eric Ruehle

    The Importance of Relationships in Value Add Industrial Real Estate with Eric Ruehle
    Aug 26 2024
    Eric Ruehle of West Harbor Capital discusses the company's background and their focus on the industrial real estate market. They specialize in value-add investments in the Southern California region, with a deal size of $10 to $50 million. Ruehle emphasizes the importance of relationships in the industry and the value of high barriers to entry, such as entitlement and zoning challenges. He also discusses the current state of the capital markets and the leasing market, noting that while there are challenges, long-term trends in the industrial sector remain positive. Key Takeaways West Harbor Capital focuses on value-add investments in the industrial real estate market in Southern California. Relationships and high barriers to entry are key factors in adding value to properties. The capital markets are stabilizing, and there is plenty of equity available for industrial investments. Leasing fundamentals are softening in Southern California, but long-term trends remain positive. The company is optimistic about the future of the industrial sector, with strong tailwinds from e-commerce, manufacturing growth, and supply-demand imbalances. Chapters 00:00 - Introduction and Background 01:20 - Founding of West Harbor Capital 03:16 - First Deals and Capital Partnerships 06:24 - Expansion into New Markets 08:01 - Regional and National Approach 09:06 - Favorite Markets and Market Dynamics 13:35 - State of the Capital Markets 15:54 - Leasing Fundamentals and Underwriting 18:09 - Bread and Butter Deals 23:12 - Adding Value and Exit Strategies 29:16 - Optimism for the Future of the Industrial Sector Episode Resources Connect with Eric Ruehle https://www.linkedin.com/in/ericruehle/https://www.westharborcap.com/ Connect with Justin Smith https://smithcre.com/https://www.lee-associates.com/jbsmith@leeirvine.comhttps://www.linkedin.com/in/justinbsmith
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    27 m
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