What I'm Reading Guessing Game: Pandemic uncertainty has made it extremely difficult for appraisers to assign values to office buildings. IMO, this will continue until the dust clears and the impact on demand from work from home can be fully quantified. Globe Street Windfall: Crypto whales are cashing out some...
January 3rd – War Chest
What I'm Listening To AJ Osborne had Scott Ramser and I on his Self Storage Income Podcast to discuss our recent acquisition of Adult Toy Storage in Altamonte Springs, FL. Scott gives a great overview on how to reposition a large RV and boat storage facility and the interview gave...
December 14th – Drop Zone
What I'm Reading Drop Zone: Drone delivery is beginning to look inevitable as developers like Alphabet continue to make breakthroughs and retailers like Walmart test in selected markets. The Diff Arms Race: Amenities aren't just for office employees anymore. Gyms, childcare centers, and restaurants are making their way into logistics...
December 7th – Help Wanted
What I'm Reading Help Wanted: The construction industry is 2.2 million skilled workers short of what is needed to keep up with demand. Floor Daily I'm sure that a trillion dollars or so of infrastructure spending injected into this environment will have a positive impact...... Taking Control: Amazon has taken...
December 3rd – Tis the Season
What I'm Reading Tis the Season: Apartment rents fell in more than half of the nation’s major markets this month, suggesting a widespread cooldown in a market that’s been buoyed by pandemic-driven shifts in consumer preferences. Apartment List To put this move in context a bit, rents typically follow a seasonal...
December 1st – Seeds of Growth
What I'm Reading Creative Destruction: With workers quitting their jobs at nearly unprecedented levels, entrepreneurship is on the rise: The number of unincorporated self-employed workers has risen by 500,000 since the start of the pandemic, Labor Department data show, to 9.44 million. That is the highest total since the financial-crisis...
November 5th – Danger Zone
What I'm Reading Leverage: Just when you thought that the situation at west coast ports couldn't possibly get worse, contracts for 15,000 west coast dockworker union members are due to expire on July 1, 2022. Obviously, this situation gives the union a ton of negotiating leverage. As a point of...
November 3rd – Fire Sale
What I'm Reading Fire Sale? Zillow is looking to unload 7,000 homes for $2.8 billion after royally screwing up their iBuying strategy and substantially overpaying for acquisitions. They are listing the homes at a loss. The news came after Zillow announced that they would be taking a pause from buying...
October 29th – Clutter Patrol
What I'm Reading Misplaced Blame: The Biden administration has pushed the Ports of LA and Long Beach to begin fining carriers who don't move their containers from the port complexes quickly enough. By this logic, the problems are apparently not a massive backlog and capacity constraints but rather that the...
October 28th – Safety First
What I'm Reading Safety First: Proligis's Q3 earnings call characterized industrial demand as being in "panic mode" with tenants showing an insatiable appetite for space. Bisnow A primary driver here is the fundamental shift in the way that retailers handle their supply chain management. Space was already tight in the...