Meet a Governor: Erin Shepherd

Erin Shepherd, Vice President, Asset Management, Ambrose Property Group 

What was your path to joining the Research Foundation as a governor?

My involvement with NAIOP and the Research Foundation moved quickly – and meaningfully. I started with the NAIOP Indiana chapter as events chair, then served as president-elect, and now I’m serving as chapter president. Early on, I realized that participating in programs beyond the chapter level could help me bring even greater value back to our members. Initially, I joined one of the National Forums for Developing Leaders, and through that experience, I learned about the Research Foundation Visionaries program. I applied and attended my first Visionaries meeting in spring 2024, and I was blown away. The group was filled with smart, driven professionals with diverse skill sets. It was inspiring, energizing, and affirmed just how important the work of this group is. Now as a Governor, I’m excited to continue to contribute to the Research Foundation’s impressive work.

Being part of NAIOP’s North American programs has offered me both visibility into how organization is positioning itself for the future, and an opportunity to be part of shaping that future. The experience has been incredibly rewarding. What happens at the North American level truly does influence and elevate the work we do locally.

What do you see as the role of the Research Foundation?

The NAIOP Research Foundation plays a vital role in elevating commercial real estate through credible, forward-thinking thought leadership. As the industry continues to evolve – whether through shifting trade dynamics, emerging technologies like artificial intelligence (AI) and data centers, or climate and operational risks – the Foundation’s research and reporting is an incredible resource that can help our members navigate what’s next.

The Foundation’s research is a powerful asset. It’s unbiased, academically grounded, yet highly operational and rooted in real-world experience. These aren’t just theoretical reports; they’re practical tools that support smarter decision-making.

I experienced the value of the Foundation’s work firsthand during a Foundation focus group on climate risk during our last meeting in New Orleans. The insights shared were directly applicable to my work in risk management and operations. It was a perfect example of how the Foundation enables the sharing of actionable knowledge that benefits our entire industry.

What do you see for the future of the Foundation?

A cornerstone of the Foundation’s future will continue to be its ability to provide dynamic, creative and forward thinking thought leadership to NAIOP’s members. Something that’s really important – and encouraging – is seeing an increasing number of early- to mid-career CRE professionals getting deeply engaged in organizations like the Research Foundation. It’s hard to overstate the value and insights brought by more experienced voices, but the perspectives emerging from the next generation of leaders are equally critical, especially as we have an eye on the innovation we need right now.

For a long time, commercial real estate operated on a kind of autopilot, but that’s changing. We can’t rely on the same formula anymore. The deal environment today demands creativity and adaptation. It’s never been purely black and white, but now the gray areas are more prominent and more important than ever. With rising capital costs, fluctuating land values, and new challenges around infrastructure like power and utilities, getting a project off the ground requires a different kind of problem-solving. That’s where fresh thinking comes in. We need to put all ideas on the table, rethink what’s possible, and approach projects from multiple angles. It’s not just about doing things the way they’ve always been done.

That’s also why I see the NAIOP Research Foundation becoming even more essential. The research it produces – backed by solid data and industry input – gives us the insights we need to succeed in the moment. Whether it’s AI, ESG, shifting demographics, or evolving public policy, everything converges in real estate. And having curated, unbiased, forward-looking research gives CRE professionals the tools and talking points we need to build smarter, more adaptive solutions for our clients and investors.

What trends are currently driving change in the industrial real estate sector?

AI is a major force shaping the future of industrial real estate. I was listening to a podcast recently that really emphasized how AI is already starting to impact jobs, and it got me thinking about how we as an industry need to adapt. What does AI mean for our tenants, our buildings, and our operations?

This is where the NAIOP Research Foundation can play a vital role, by looking ahead and providing research that helps developers, investors and users understand where AI is taking us, from facility design to operational requirements. That includes big questions about exploring the evolving expectations for warehouse functionality, and of course power infrastructure needs.

What professional advice would you offer to those just starting out in their career?

Be curious and stay close to the numbers. Learn how a deal works from all angles: the capital stack, leasing and construction operations, and don't underestimate the value of strong professional relationships within the company. Approaching every task with integrity and a commitment to follow through goes a long way.

 

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