industrial real estate

“I think one thing that's really interesting that's changed in the real estate business that you were getting the beta regardless of the property type. So focusing on alpha was all that mattered. Unfortunately post GFC that's completely flipped on its head. So …”

“Historically, we took a pass on the sector. If we couldn't find the right group, we just did not pursue the sector. And industrial was a good example where even once the sector became much more interesting and institutional, it took us a while to find the righ…”

“In fact, and the most commonly used core index, the Odyssey industrial, which Amazon warehouses, that sort of thing is 34% of the index is the largest part of the index.”

“If you drive 400 miles due south to the Inland Empire in Southern California, which was always the hottest industrial market on the planet, rents over the same period of time are down roughly 40%.”

“Industrial real estate is a huge beneficiary. It's simple things like AI as an accelerant to e-commerce growth. It's advanced manufacturing. How AI is accelerating that, particularly here in this country, as a driver of demand.”

“We've been investing in industrial assets in and around Silicon Valley that are benefiting from the physical AI trends, among other things. Rents are up 40% over the last several years.”