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Mike Yungerman and Mark Goode
That's the question Venture One's Mark Goode was asking atyesterday's Chicago Industrial Properties Summit at the Oak Brook Marriott. Mark (right) says there's plenty of funds chasing industrial property right now, because it's the simplest—usually one or a handful of tenants with longer-term leases. But that doesn't mean that every building is an investment that will gain value. Mark's still bullish on mid-sized buildings outside Cook County but still with close proximity to Chicago. Opus's Mike Yungerman (left) tells us that there are new funds from life companies, pension funds, and even individuals who lost their jobs in the consolidation of major companies coming online. But he expects most of that money will be spent on existing buildings, except for in cases like HP, which combined all of its warehouses into one 1.3M SF building in Iowa.
George Cibula, Mark Mullarkey and David Harker
Are businesses being squeezed out of Illinois by increased taxes? Darwin Realty's George “We're Not a Boutique” Cibula says that most companies were just passing through Indiana and Iowa to raise their incentives in Illinois by making landlords match the price. First Industrial's David Harker (right) says no matter what, mostdistributors still need a location in Chicago. That's a good thing for the REIT that's currently deleveraging its portfolio. CenterPoint Properties' Matt Mullarkey says his company's investment inintermodal properties will become more important as gas prices rise and distributors look to save money when transporting goods more than 250 miles.