Worth Repeating: Sound Bites from NAIOP’s CRE.Converge

Spring 2019 Issue

Sound bites from NAIOP’s CRE.Converge, held October 15-18, 2018, in Washington, D.C.:

“Technology is causing a huge shift in value from physical assets to user experiences.” Chase Barbarino, co-founder, HqO

“What talent wants, landlords need, developers must build.”  Chris Kelley, co-founder, Convene

“We are not in a marathon of an expansion. In a marathon, we have juiced the economy with stimulus, but now the Fed is saying wait a minute, we have to slow down and get over the finish line.” Diane Swonk, chief economist and managing director, Grant Thornton

“We have built two inland ports in the last six years. Most port authorities don’t do that.” Micah Mallace, director of strategic projects, South Carolina Ports Authority

“The biggest thing to keep in mind with industrial logistics is the available open space near population centers and transportation hubs got used up about two years ago. In economist terms, what this means is a supply bottleneck has come along … This market is going to see continued growth of demand for industrial space, and they will have to search harder to find that space. The owner of an existing industrial logistics facility is in a really good position in this market.”  Calvin Schnure, senior vice president of research and economic analysis, Nareit

“Everyone is a little bit infatuated with industrial right now. It’s white-hot — there are 240 million square feet of industrial currently under construction in the U.S. right now. But can that absorption continue over the next few years?” Joe Gorin, managing director and co-head of GSAM Private Real Estate, Goldman Sachs

“Collecting data is all about taking information and breaking it down so that it’s effective in helping us make business decisions.” John Schwab, Wipfli LLP, partner

“What does your work desk look like when you don’t ever need to type at a computer? Our workplaces have to have a flexibility woven into them so they can change with new technologies. Build flexibility into your strategy so your projects can thrive and adapt over time.” Jordan Goldstein, global design synergy leader and regional managing principal, Gensler