RE #191: Chris Powers - Real Estate Rant on Industrial, Office, and Capital Markets Heading into 2022

On this solo episode, Chris provides an update on industrial fundamentals and how they're holding up to date. He also deep dives into interesting things he is thinking about by way of capital markets and provides insight into what the office data is saying. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Links: Sean Dalfin on The Fort Chris Powers on Why Texas Topics: (02:30) - Thoughts on Industrial for 2022 (04:28) - The Fundamentals of Industrial - Location Premium (6:45) - Class B: A Diminishing Portion Of The Industrial Stock (8:59) - Accelerated Rent Growth & Increasing Tenant Demand (11:10) - Capex Requirements and Operating Expenses Are Changing (12:10) - Is having multiple tenants better than having one tenant? (12:34) - Does there continue to be portfolio premiums? (13:27) - Just In Case Inventory (14:38) - Industrial Price Increases Across Texas & Non-Texas Markets (16:34) - Transaction Volume Increases, E-commerce & CapEx (18:54) - Thoughts on Office (21:34) - The Great Game of Chicken With WFH (24:38) - Thoughts on Commercial Real Estate (25:33) - Dry Powder, Open and Closed Funds, Mega-Funds, and Allocations From Pensions and Institutions (28:18) - Family Offices & Non-Listed REIT Fundraising (30:10) - Debt & Lending (31:30) - (non) Distress in the Private Markets and Cap Rate Compression  (32:20) - Debt Pricing & Proptech (33:50) - Migration (37:32) - Market Liquidity, Inflation, Net Profits interests and Industry Leverage (40:57) - Final Thoughts The Fort is produced by Johnny Peterson & Straight Up Podcasts

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Here, we uncover the proven strategies, insights, and inspiring stories of today’s greatest leaders in the worlds of business, real estate, entrepreneurship, and investing. Each episode’s mission is to help you to level up your entrepreneurial game by hearing directly from the men and women in the arena. Chris is able to uniquely uncover things not commonly discussed because he is an entrepreneur himself. We not only cover business, but we also cover the personal side of entrepreneurship. The Fort began in 2018 as a way for Chris to publicly explore the fascinating world of entrepreneurship. Since he was a child, he’s been characterized as obsessively curious about the world around him.  The Fort has now been downloaded over 2M times, across more than 50,000 unique listeners. Each week features conversations with entrepreneurs, Founders, CEOs, and Executives from some of the leading companies in America. Past guests have represented companies such as JLL, Hillwood, S2 Capital, Chick Fil A, Morning Brew, Founders Podcast, Tiny Capital, Permanent Equity, Fort Capital, Matthews REIS, Bonobos, and ConvertKit. 🐦 Follow Chris on Twitter: www.twitter.com/FortWorthChris 💡 Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ 📹 Subscribe to The FORT on YouTube: https://www.youtube.com/@FORTpod