I had an amazing time at the SIOR Global Spring Conference last week in Amelia Island, FL listening and learning from the brightest individuals in our business.
The overall sentiment regarding the US Industrial Market(s) is that while things are still "good", they certainly are not "great" as they were in recent years past.
The basis of these thoughts derives from current inflation trends, interest rate markets, the inability to make many investment deals pencil, as well as the steep rise in Vacancy Rates across the country (Delivery of many large speculative projects that remain vacant, as well as excess space on the market for Sublease)
While predictions for the remainder of 2024 were not stellar, the outlook was hopeful looking in to 2025 where some believe we will see our 1st interest rate decrease since the Fed began these increases March 2022 (we shall see about that!), which would certainly assist Investors in pursuing deals, as well as Tenants looking to take on additional space, and in many cases additional debt, to grow their businesses.
The consensus among the group was that there will be plenty of opportunity for SIORs to create value for themselves and for their clients by being fully immersed in their market via a Street Broker approach and by understanding how these outside factors will affect our business and our clients' businesses for years to come.
Special thanks to some of the awesome sponsors that made this event possible - ARCO/Murray Prologis Panattoni Lee & Associates Commercial Real Estate Services Bank of America Blew & Associates, P.A.
Rich Young, SIOR Daniel L. McPhail, SIOR, GC Nick Steitz Alex Hoeck, SIOR Allen Gump, SIOR, CCIM Mark Graybill, SIOR, CCIM George Tanghongs, SIOR, CCIM Dan Spika. SIOR
From the key cards & lanyards to the beach-themed cocktails, each part of #SIORSpring24 was made possible by our outstanding #sponsors. Check out who you have to thank for making the most of #business on the #beach! https://hubs.ly/Q02wJBG80 #SIOR #CRE
Pastry Chef
3moGreat performance is a very nice Company to work for !!!