Industrial Advisors

Lessons from the Indiana Hoosiers: Parallels Between Football and Real Estate Success In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the remarkable turnaround of the Indiana Hoosiers football team, who went from being historically the worst program to winning the national championship. They draw parallels between the success of the football team and successful commercial real estate teams. Key points include the importance of leadership, discipline, and teamwork. By staying true to their roles and consistently performing, both the Hoosiers and successful brokerage teams achieve outstanding results. The hosts also emphasize the importance of responding to adversity and maintaining a disciplined approach to ensure long-term success. 00:00 Introduction and Podcast Overview 00:40 National Championship Game Recap 01:10 Leadership and Training Insights 02:15 Team Roles and Efficiency 02:49 Turnovers and Analytical Approach 03:50 Handling Adversity 04:52 Discipline and Consistency 06:19 Conclusion and Final Thoughts

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor interview James Lawrence, famously known as The Iron Cowboy. Lawrence shares insights into his extraordinary achievements, including completing 50 Ironman's in 50 states in 50 days, and later accomplishing 101 Ironman's in 101 days. He explains the symbolic significance of his 101st day and reflects on the criticism he faced during his 50-state challenge. Lawrence emphasizes the importance of learning from mistakes, maintaining mental toughness, and the value of family support in his monumental undertakings. The episode concludes with Lawrence discussing his future goals as he looks forward to turning 50 and seeks to balance his life with health, speed, and personal challenges. 00:00 Introduction: Defying the Impossible 00:43 Welcome to the Podcast 00:53 Meet James Lawrence, the Iron Cowboy 01:52 The Marathon Monks and Day 101 03:54 Facing Criticism and Overcoming Adversity 08:31 The Decision to Conquer 100 Ironmans 12:29 Family Support and Personal Achievements 16:23 Future Goals and Personal Growth 18:13 Books, Documentaries, and Final Thoughts

2025 Review and Predictions for a Rebounding 2026: Industrial Real Estate Insights In this episode of the Industrial Advisors Podcast, hosts Bill Condon and Matt McGregor review the performance of the industrial real estate market in 2025, highlight key factors behind the year's trends, and share their optimistic predictions for 2026—dubbed the 'rebounding year.' They discuss the record-high vacancy rates, increased activity from large tenants, and the surprising demand for land. The hosts detail vacancy and absorption rates across various submarkets, noting significant activity in recreational use and capital markets. Concluding on a lighter note, they predict the Seattle Seahawks will win the Super Bowl while outlining a hopeful recovery in market conditions with vacancy rates projected to drop significantly by the end of 2026. 00:00 Introduction and 2026 Predictions 00:38 2025 Review: Key Factors and Market Dynamics 03:47 Vacancy Rates and Absorption Numbers 06:23 Recreational Use and Tenant Activity 08:31 Capital Markets Overview 11:03 Final Predictions and Super Bowl Talk

Katy Preidt: Navigating Economic Development and Power Grid Challenges at Duke Energy In this episode of the Industrial Advisors podcast, hosts Matt McGregor and Bill Condon interview Katy Preidt, Economic Development Manager at Duke Energy Corporation, live from IAMC in Indianapolis. Katy shares her unique journey from aspiring science teacher to her current role, detailing her educational background in geology and GIS from Ball State, her work in California at Apple, and her return to Indiana. She discusses the dynamics of economic development, the competitive advantages of Indiana, and Duke Energy's initiatives, such as the Site Readiness Program, which prepares communities for industrial development. Katie also addresses the challenges of power grid demands, particularly in context to the fast-paced industrial sector, and the innovative solutions that Duke Energy engineers are implementing to stay competitive. 00:00 Introduction and Guest Background 00:49 Educational Journey and Early Career 01:59 Transition to Duke Energy 02:20 Economic Development Role 02:49 Life in Indiana vs. California 03:00 Power Grid and Industrial Development 04:39 Duke's Site Readiness Program 07:26 Challenges and Future of Power Infrastructure 10:44 Conclusion and Final Thoughts

Puget Sound Industrial Market Trends and Predictions for 2026 In this Five-Minute Friday episode of the Industrial Advisors Podcast, Bill Condon and Matt McGregor discuss recent trends in the Puget Sound industrial real estate market, focusing on net absorption and market activities. They highlight the market's positive momentum over the past 45 days, the potential closing of several deals by year-end, and outlook for the coming years. The hosts predict a slight negative absorption for the current year but are optimistic about significant positive absorption in the first half of 2026, driven by major deals involving companies like Amazon and other substantial projects. The episode concludes with forecasts for the end of the year and the first two quarters of 2026. 00:00 Market Momentum in the Last 45 Days 00:29 Introduction to Five Minute Friday Industrial Advisors 00:40 Net Absorption and Year-End Predictions 01:01 Big Deals on the Horizon 01:22 Amazon's Potential Moves 01:49 Activity in the 1 to 200 Range 02:21 Market Picking Up in the 20 to 50 Range 02:35 Year-End and 2026 Predictions 03:19 Conclusion and Farewell

Behind the Scenes at the Global CRE Broker Virtual Summit In this episode, industrial advisors Bill Condon and Matt McGregor discuss Matt's recent appearance at the Global CRE Broker Summit hosted by renowned business coach Rod Santomassimo. Held in a highly advanced virtual tech room, this event featured a slew of top brokers and speakers. Matt shares insights into the venue, the sessions, and the high-energy atmosphere. The discussion also covers the adaptability of top brokers in challenging markets and the value of deep involvement in professional organizations like SIOR and CCIM. The episode concludes with a reflection on the event's success and anticipation for future gatherings. 00:00 Entering the High-Tech Venue 00:46 Introduction to the Event and Hosts 01:26 Overview of the Virtual Summit 02:26 Details of the Advanced Virtual Stage 03:04 Keynote Speakers and Their Insights 03:39 Audience Interaction and Q&A 05:37 Takeaways and Final Thoughts

Navigating Site Selection: Insights and Expertise with Courtney Dunbar at IAMC In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor speak with Courtney Dunbar, the Director of Site Selection at Burns and McDonnell. Courtney shares her career journey starting from the Nebraska Department of Economic Development to her current position. She explains the intricacies and considerations involved in the site selection process, including logistics, workforce, tax incentives, and environmental factors. The discussion also touches on trends in manufacturing and the importance of pre-capital planning to ensure successful site selection. Courtney emphasizes the need for early and thorough planning to avoid common pitfalls and make informed decisions in the industrial development space. 00:00 Introduction and Career Beginnings 00:44 Podcast Welcome and Marathon Talk 01:15 Exploring Site Selection 03:36 Manufacturing and Distribution Insights 05:19 Trends and Challenges in Site Selection 06:33 Pre-Capital Planning Importance 07:26 Energy Demand and Project Concerns 12:07 Final Thoughts and Farewell

Navigating Corporate America to Commercial Real Estate: Mark Paschal's Journey In this episode of the Industrial Advisors podcast, hosts Bill Condon and Kyle Back sit down with Mark Paschal, the Senior Vice President of National Build-to-Suit at SunCap Property Group. Mark shares his unique career path starting from his days as a football player at UNC, through his diverse experiences in corporate America, and his eventual shift into the real estate sector. He elaborates on the importance of relationship-building, the impact of technology in real estate, and how SunCap differentiates itself in the competitive build-to-suit market. Paschal also discusses market trends, the challenges of power and labor, and his optimistic outlook for the future of industrial real estate. The conversation provides insightful takeaways on the dynamic landscape of corporate real estate development. 00:00 Introduction and Guest Background 01:32 Career Journey and Early Challenges 03:36 Joining SunCap Property Group 05:48 SunCap's Relationship with FedEx Ground 06:48 Client Relationships and Business Strategy 13:23 Market Trends and Future Outlook 19:14 Closing Thoughts and Final Questions

Embracing Mental Toughness and Endurance In this episode of the Industrial Advisors podcast, recorded live at IMC in Indianapolis, Matt and Bill discuss the remarkable achievements of endurance athletes, focusing on keynote speaker 'Iron Cowboy,' who completed 101 consecutive full Ironman triathlons. They explore the mindset required for such feats, emphasizing the importance of mental toughness and a positive outlook. The episode also examines how endurance activities correlate with the competitive nature of brokerage. The hosts reflect on personal experiences with marathons and triathlons, highlighting the human capacity to push beyond perceived limits. 00:00 Introduction to Achieving Greatness 00:28 Welcome to the Industrial Advisors Podcast 00:30 Endurance Athletes and the Iron Cowboy 01:42 Criticism and Resilience 02:54 Personal Endurance Stories 04:51 The Power of the Human Mind 05:22 Focus on What You Can Control 05:44 Conclusion and Motivation

Supply Chain Disruption & Leadership Insights with Stephanie Rodriguez In this episode of the Industrial Advisors podcast, Bill and Matt are live from IAMC in Indianapolis with guest Stephanie Rodriguez, the National Director of Industrial Services at Colliers. They discuss the impact of economic and supply chain disruptions, Stephanie's multifaceted role at Colliers, her journey overcoming initial skepticism during hiring, and the importance of balancing corporate strategy with broker needs. Stephanie shares her favorite aspects of her job, the challenges of managing multiple brokers, and her insights on market growth and client concerns. The episode also touches on her passion for fitness and outdoor activities, as well as the compelling IAMC keynote speech by the Iron Cowboy, emphasizing the power of mental resilience. 00:00 Introduction and Economic Concerns 00:30 Welcome to the Industrial Advisors Podcast 00:37 Introducing Stephanie Rodriguez 01:06 Stephanie's Roles and Responsibilities 03:16 Managing Complaints and Broker Interactions 05:45 Recruitment and Growth at Colliers 07:44 Supply Chain Disruptions and Economic Impact 08:58 Industrial Growth and Power Concerns 10:53 Personal Insights and Hobbies 12:56 Inspirational Keynote Takeaways 14:38 Conclusion and Farewell

Mastering Traits of a Successful Broker: Insights from Industrial Advisors In this episode of the Industrial Advisors podcast, hosts Matt and Kyle discuss the essential traits that make a successful broker in the industry. They identify five key attributes: work ethic, analytical ability, networking, salesmanship, and creativity. They emphasize the importance of mastering at least two of these traits to make money, three to become elite, and four to achieve significant success. They also highlight the value of discipline, competitive drive, authenticity, and passion in the field. The conversation provides valuable insights for brokers looking to excel in the industry. 00:00 Introduction to the Five Key Traits 00:48 Deep Dive into the Five Traits 01:56 The Importance of Discipline and Competitive Nature 03:00 Winning and Authenticity in Brokerage 03:52 Passion and Final Thoughts

Challenges and Triumphs in Industrial Development with Dan Balmelli In this episode of the Industrial Advisors podcast, hosts Bill Conant and Matt McGregor welcome Dan Balmelli, a principal engineer at Barghausen Consulting Engineers. With over 40 years of experience, Dan shares insights into the complexities of industrial development in Washington State, discussing difficulties related to environmental regulations, land scarcity, and community pushback. He highlights notable projects, including the Sumner Ridge and BNSF sites, and emphasizes the importance of problem-solving and client relationships in achieving market dominance. The episode also covers upcoming policy changes that may impact future developments. 00:00 Introduction and Guest Welcome 01:12 Dan Balmelli's Background and Firm Overview 02:25 Challenges in Industrial Development 04:37 Market Share and Success Factors 07:46 Policy and Regulatory Changes 11:45 Challenging Projects and Case Studies 15:05 Smooth Projects and Final Thoughts 16:12 Conclusion and Farewell

The Evolution of Our Industrial Advisors Podcast: A 10-Year Journey In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor reflect on the origins and development of their podcast over the past decade. They discuss the early days when podcasting was cutting-edge, their unique approach to sharing real estate market statistics, and the gradual evolution from a quarterly to a weekly format in response to listener demand. The story highlights the podcast's journey from using a professional podcast studio to creating their in-house studio post-COVID. Tune in to hear about their experiences, challenges, and future plans. 00:00 The Early Days of Podcasting 00:38 Introducing the Industrial Advisors Podcast 00:56 The Evolution of Our Podcast 02:03 From Studio Rentals to In-House Production 03:00 Expanding Content and Increasing Frequency 03:56 Adapting to Change and Future Outlook 04:35 Thank You to Our Listeners

Q3 Real Estate Market Review: Insights and Predictions In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the state of the real estate market in Q3. They analyze current vacancy rates, comparing them to historical data from 2008-2010 and explore why the market feels different today despite similar vacancy numbers. Key themes include an increase in lease renewals, higher credit risks, and a notable number of bankruptcies among smaller Third-Party Logistics (3PL) providers. The hosts highlight the improvement in the South Seattle market, rising investment sales, and the ongoing challenges in the Kent Valley. They predict a recovery in Q4 driven by potential big deals and emphasize that the Puget Sound region remains one of the strongest markets nationally. Additionally, they touch upon the optimistic outlook for the local sports teams, with the Mariners entering the playoffs and the Seahawks performing well. 00:00 Market Resilience and Recovery 00:41 Introduction to the Podcast 00:46 Q3 Market Review 00:54 Comparing Past and Present Market Conditions 03:58 Current Market Themes 06:54 Vacancy Rates and Submarket Analysis 11:08 Investment Sales Overview 14:15 Closing & World Series Predictions

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor discuss the importance of having a think tank—a dedicated time and space for clear and strategic thinking. They share their personal methods such as Bill's daily morning runs and Matt's sauna sessions, cold plunges, and conferences. Both hosts agree on the benefits of using times like plane rides and vacations to unplug and brainstorm new ideas. They emphasize the importance of stepping away from daily routines to gain clarity and develop strategies, offering insights into their unique routines and experiences.   00:00 Introduction and Morning Routine 00:30 Welcome to the Podcast 00:35 Think Tank: Generating Ideas 00:51 Personal Strategies for Clarity 01:21 Conferences and Travel Insights 01:48 Running and Unexpected Encounters 02:57 Final Thoughts and Vacation Clarity 03:27 Conclusion and Happy Friday

Industry Titans Discuss Success Strategies and The Evolution of Commercial Real Estate In this episode of Industrial Advisors, hosts Matt McGregor and Bill Condon welcome renowned guests Rod Santomassimo from the Massimo Group and Bob Knakal, celebrated as one of the top brokers globally. They delve into their new book 'Selling Buildings,' which merges memoirs and tactical guidance for real estate professionals. The discussion emphasizes the importance of conviction, passion, and discipline in real estate success, along with the potential impact of AI on the industry. Both guests share their future aspirations, with Knakal focusing on mentorship and company growth, while Santomassimo prepares for a groundbreaking virtual summit in commercial real estate.   00:00 Introduction and Achievements 00:34 Meet the Guests: Rod Santomassimo and Bob Knakal 01:29 The Story Behind 'Selling Buildings' 03:46 Luck vs. Discipline in Brokerage 06:03 Balancing Passion and Discipline 11:26 Advice for Brokers: Conviction and Expertise 17:10 The Role of Technology in CRE 18:58 What's Next for Rod and Bob? 22:11 Closing Remarks and Book Promotion

In this Five Minute Friday episode, Bill Condon and Matt McGregor discuss their most memorable deals in their brokerage careers. Bill recounts a high-stakes sale involving 500,000 feet of warehouse space for storing high-end toys, which faced a last-minute hurdle with the fire department. Matt shares his experience from his first year in the business, involving a significant build-to-suit project for Pacific Crest Cabinets. Both highlight the importance of forming lasting relationships with clients beyond the deals themselves.   00:00 Introduction and Impressive Sales Achievement 00:42 Welcome to Five Minute Friday 00:55 Bill's Most Memorable Deal 03:10 Matt's Most Memorable Deal 05:23 Conclusion and Reflections

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor are joined by Justin Carlucci, partner at Bridge Industrial. Justin shares insights from his impressive career in industrial development, discussing major projects across Washington State, current market trends, and the unique challenges facing developers today. The conversation covers everything from site selection and project highlights to regulatory hurdles and the future outlook for industrial real estate in the region.   00:00 Introduction and Welcome 00:34 Guest Introduction: Justin Carlucci of Bridge Industrial 01:00 Early Career Stories and Memorable Deals 02:41 Current Projects and Market Overview 04:20 Unique Aspects of Recent Developments 07:00 Site Selection and Acquisition Strategy 09:00 Ideal Building Sizes and Market Demand 11:00 Challenges in Development: Financing and Regulation 14:00 The Impact of New Energy Codes 16:00 Market Outlook for 2026-2027 18:00 Favorite Projects and Lessons Learned 22:00 Closing Thoughts and Reflections

In this episode of the Industrial Advisors podcast, Bill Condon and Matt McGregor discuss whether playing golf is essential for success in the brokerage business. They share personal anecdotes about their limited golfing experience and argue that while golf can be a useful tool for building relationships, it is not necessary for closing deals. They caution against over-relying on golf, stating that some brokers might use it as an excuse for not being productive. The episode emphasizes that relationship-building is key, with golf being just one of many possible avenues.   00:00 Introduction: Business on the Golf Course 00:28 Welcome to Industrial Advisors Podcast 00:33 Is Golf Important for Brokers? 00:55 Personal Golf Stories 02:13 The Role of Golf in Building Relationships 03:34 Conclusion and Final Thoughts

In this episode of the Industrial Advisors podcast, hosts Bill Condon and Matt McGregor are joined by Mike Kendall, who heads the Industrial West Coast investment team. The discussion centers around the state of the industrial real estate market in the first half of 2025, highlighting trends, regional variations, and investment strategies. Key insights include the observation that the risk pendulum is currently skewed, making it a potentially good time to buy for strategic investors. Market activity, influenced by factors like tariffs and tenant demand, shows varying strengths across regions like Phoenix, the Inland Empire, and Seattle. The conversation also covers cap rates, aggressive buyers, and the challenges developers face in raising equity for speculative projects. The episode concludes with predictions for the second half of 2025, suggesting a modest uptick in transaction volume driven by certain types of deals, with a more significant increase expected in early 2026. 00:00 Introduction to the Risk Pendulum 00:37 Welcome and Guest Introduction 01:07 Market Activity and Trends in 2025 02:02 Investment Strategies and Deal Dynamics 03:54 Challenges in Land Sales and Equity Raises 05:45 Regional Market Analysis 08:27 Demand Shifts and Investment Profiles 11:10 Aggressive Buyers and Market Predictions 14:31 Cap Rates and Market Performance 16:16 Conclusion and Farewell