What I'm Reading On Watch: There is a strong correlation between a dramatic rise in oil prices and recessions. Historically, not every recession is preceded by a 50% rise in oil but every 50% rise in crude has resulted in a recession but not for the reason that you may...
March 25th – Compression
What I'm Reading Compression: With Class A cap rates at incredibly low levels, industrial real estate investors are increasingly targeting well-located B and C product to generate higher returns. According to a new report by Cushman and Wakefield, average cap rates for Class A properties declined by 33 basis points...
November 17th – What Lies Ahead
One Big Thing There has been a lot of COVID news to digest in recent days so I thought it would be helpful to put together a quick summary of what is going on. On the infection side, things are undeniably bad and getting worse. We have now seen over 11...
November 11th – Changing of the Guard
What I’m Reading Changing of the Guard: Office, hospitality and retail, three of real estate’s most institutionalized sectors, are facing long-term structural headwinds. At the same time, formerly-niche sectors like cold storage, self-storage, medical office and data centers are getting more institutional attention thanks to their resiliency in the face of...
October 20th – Out of Date
What I’m Reading Out of Date: According to JLL, 78% of all cold storage warehouses are at least 20 years old and the average age of a US cold storage facility is 42 years old. This is a problem in an industry where the technology has changed so dramatically in recent...