Sound Bites from NAIOP’s I.CON: Industrial Conference

Sound Bites from NAIOP’s I.CON: Industrial Conference, June 7-8, 2018, in Jersey City, New Jersey:

“I see enormous potential for the reuse of shopping malls. The current trends include transforming malls into warehouses, data centers and inventive, experiential retail uses.” Stuart Lichter, president and founder, IRG

“Industrial tenants are increasingly considering their surrounding area’s labor supply. The labor skillsets required for current industrial uses are diverse and no longer cookie cutter. What makes one site a home run for one type of tenant could be disastrous for another. Landlords need to understand the tenant’s labor needs as well as the labor supply.” Laura Sidney, senior director, client strategy and labor analytics, CBRE, Inc.

“Rent growth for urban infill warehouses will continue, as there is a battle for speed to market. In other words, how quickly can I get a product in the final customer’s hands? If a company moves closer in to an urban area and thereby reduces transportation costs, they can pay more for warehouse rent.” Gary Anderson, CEO Europe and Asia, Prologis

Sound Bites from NAIOP’s National Forums Symposium, May 1-3, 2018, New York City:

“What it [coworking] does for my portfolio is it gives me the flexibility to ramp up quickly when I need it and to get in and out of space quickly when I need it. That’s not something that traditionally the real estate business allowed.” Frank Cuevas, vice president, global real estate strategy and operations, IBM

“Bird is the hot new startup [in terms of electric scooter sharing]. They raised $100 million in a series B round [of financing], and that was twice the size, at twice the speed, of what Uber raised. It’s really interesting, because scooters have basically the same effect [as Uber]. They allow you to basically traverse the city much faster.” Greg Lindsay, senior fellow, connected mobility initiative, NewCities