Industrial Outdoor Ventures

Interest Rates and Elections Make Strange Bedfellows According to this story in GlobeSt.com, there may be a +/-50 day window of opportunity for investors following the 50 bps drop in rates. Why 50 days? the uncertainty of the election outcome, and the time from the election to inauguration. These are the thoughts advanced by John T Chang from Marcus & Millichap. https://lnkd.in/gzk8MEcD

This story in GlobeSt.com by Kelsi Borland only reinforces what we (Tom Barbera, Nick Firth, Eric Johnson, MBA, and Anthony DeLaurentis) have been saying for some time: Industrial Outdoor Storage investments are becoming increasingly more institutionalized as a variety of market dynamics have shifted or evolved. Municipal zoning constraints, among other things, create barriers to entry in most major markets across the country. In fact, nearly one year ago, Barbera led a panel discussion at NAIOP's annual Converge Conference in Seattle. https://lnkd.in/grUkKrvC https://lnkd.in/gmhc7kG4

GlobeSt.com writer Kristen Smithberg writes that capitalization rates for industrial (warehouse) properties moved slightly higher at the end of the second quarter, to 6.42%. The rates, according to Integra Realty Resources, in the East and Midwest are substantially higher at 6.92% and 7.13%, respectively. Despite those higher averages, there are markets like Chicago, Kansas City, Raleigh and Northern New Jersey where demand and rents increased because of favored locations. https://lnkd.in/gyXCkBNa

According to RentCafe.com, several Midwest cities close to home are leading a recovery among rustbelt markets. Top markets include Chicago, Kenosha and Madison. That news in REjournals bodes well for IOV's Trumpet Park, located between Chicago and Kenosha in a dynamic industrial corridor. https://lnkd.in/d-NtJY6R https://lnkd.in/dBZwdwst Eric Johnson, MBA Anthony DeLaurentis Christopher Volkert Ned Frank Patrick Hake

Industrial Outdoor Ventures had the pleasure of hosting an appreciation event during the BMW Championship at Castle Pines Golf Club in Castle Rock, CO. We had two full days of witnessing some the best golf in the world alongside our Capital Partners, Brokers, Investors and Lenders. Thank you to everyone who attended, we enjoyed your presence and appreciate your continued support. A special thank you to Tina Torossian with IOV for facilitating the event. Tom Barbera I Nick Firth I Raymond Keeler, CFA I Eric Johnson, MBA I Anthony DeLaurentis I Tina Torossian I Benjamin Backer I Mike Rotolo I David Laser I Jonathan Bilton I Matt Tuthill I Darren Keller I Rob Schoder I Zak Stassi I Marty Kearney I Stephan Richford I Timothy Cummings I Patrick Sheehan I Mathew Skogebo I Ben Harris I Rick Medinis I David Guinn, SIOR I Paul Kahn I Michael Wafer Jr. I Drew McManus, SIOR I Sam Dragan I Mike Camp I Gray Gaines I Steffan Morris I Bobby Stevens, SIOR I William Ericksen I Rob Kruer I Allison Malzone #BMWChampionship #CastlePinesGolfclub #PGATour #TeamIOV #IndustryPeers #Partnership #AppreciationEvent #IndustrialRealEstate #IOS

IN THE NEWS: In case you didn't see, MEI Rigging & Crating leased a second location from us. As reported in REDnews and REjournals, this one is in Dallas to go along with its space in Houston. It's great to help clients build a national presence. Tom Barbera, Eric Johnson, MBA Anthony DeLaurentis, David Guinn, SIOR Martin K. Grossman, Keaton Duhon Davidson Bogel Real Estate David Cartwright Armour Realty https://lnkd.in/gBy5yK6N

We are excited to be featured in the August issue of France Media Inc.'s Heartland Real Estate Business. The piece looks at recent developments like our Trumpet Park in Zion, near the Illinois/Wisconsin border. Eric Johnson, MBA was interviewed for the article as was one of the Colliers brokers Ned Frank. Ned's partners on the listing are Christopher Volkert and Patrick Hake. The first phase of Trumpet Park IOS development includes an 11,440-square-foot maintenance and service facility and an approx. 9-acre yard. This first phase is part of a larger $35 million project. https://lnkd.in/dva6uUjC

Industrial deliveries are down from one year ago--but similar to 2022 levels--as the markets in general consolidated development activity after years of record activity levels. The top five markets for deliveries are cited in the Commercial Property Executive article. There are two tiers of markets: those with at least 17 million square feet of deliveries and those with 8.8 million square feet or less. While 2.7 million square feet separate the top three markets, roughly that same amount separates numbers 3-10. 1. Dallas 2. Inland Empire 3. Phoenix 4. Chicago 5. Austin https://lnkd.in/eQ8TR4x6

Tom Barbera has been named one of the keynote panelists at a national summit being hosted by the National Association of Industrial Outdoor Storage and Contractors, Closers & Connections (CCC) Derek Fish, Zach Graham, Matthew Pfeiffer, and Larry Genet are joining Tom on The State of the Union panel. Justin Horowitz is the moderator. https://lnkd.in/gHMfHAe6

The merits of an emergency rate cut provide an interesting discussion, as evidenced by this Erik Sherman article in GlobeSt.com. The piece includes the perspectives of experts like Jeremy Siegel, Paul Krugman, and others. The best quote may have come from Austan Goolsbee who said, "We've got to be monitoring the real side of the economy: There's nothing in the Fed's mandate that's about making sure the stock market is comfortable." https://lnkd.in/gbJxWj9q