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Where Are We in the Cycle? Strategies for Acquiring and Investing in PNW Logistics Real Estate

Exploring Supply vs Demand Dynamics, Top Submarkets, Leasing Trends, and Site Selection

Bryan McKrell

Bryan McKrell

Managing Director

Link Logistics

Justin Carlucci

Justin Carlucci

Partner, NW Region

Bridge Industrial

Wilma Warshak

Wilma Warshak

Managing Partner

Washington Real Estate Advisors

Ian O'Brien

Ian O'Brien

Associate Director

Savills

Rhonda Pollard
Moderator

Rhonda Pollard

Manager

PCL Construction Services

Bryan McKrell

Managing Director

Link Logistics

Bryan McKrell is a Managing Director at Link Logistics Real Estate. He is responsible for more than 53 million square feet of industrial properties in the Pacific Northwest and he has worked in Commercial Real Estate for the last 23 years. Bryan has worked locally as a youth sports coach for soccer, basketball golf, and football and spends a good deal of time volunteering at his children’s school and in the community. Bryan grew up in the Carmichael area and attended Starr King Elementary and Middle school where he was inspired to learn and would like to give back to the district which provided him with such an exemplarily academic foundation. Bryan is the father of three children and currently resides in East Sacramento.

Justin Carlucci

Partner, NW Region

Bridge Industrial

Justin Carlucci is responsible for Bridge’s acquisition and development activities throughout the states of Washington and Oregon. Justin has been involved in the acquisitions and development of over 7 million square feet of industrial real estate with a value in excess of $900 million during his career.

Justin is a graduate of Syracuse University where he holds a law degree and MBA. He received his Bachelor’s degree from Manhattan College. Justin is a member of the Washington State Chapter of NAIOP.

Wilma Warshak

Managing Partner

Washington Real Estate Advisors

Wilma Warshak has been a widely recognized leader in virtually all aspects of the industrial real estate advisory and brokerage business for more than twenty years. During that time she has represented major corporate clients and many of the nation’s largest institutional and private investors, including RREEF, Prologis, TA Associates, Cutter & Buck, Sears, Amazon.com, Boeing, Macy’s, Blackrock, IIT, Cornerstone Advisers, Safeway, Teutsch Partners, Blue Nile, Port of Tacoma, Versacold, and Panattoni.

In recent times, Wilma completed the year’s largest single market industrial investment sale on the West Coast: one million square feet for the James Campbell Company of Hawaii and San Francisco. Following this, Wilma sold BlackRock’s 400,000 square-foot Portside Distribution Center and the 445,000 square-foot Kent 167 Distribution Center to Prologis.

Wilma was Colliers International’s top producing industrial broker in the Northwest for 18 years. Eighteen times she received the prestigious Colliers International Award for Excellence, given annually to the top five percent of Colliers professionals worldwide. In addition, she was named Colliers International Top Professional North America.

Known in the industry for effectiveness, access to decision-makers and creativity in representing clients’ strategic long-term interests, Wilma has three times earned the Industrial Broker of the Year Award for Washington State SIOR, and has been a finalist multiple times. The national industry research firm Costar has repeatedly named her Power Broker. Through her national and local work she has built a wide network of professional relationships that help her uncover opportunities and negotiate effectively.

Wilma has mentored others in the industry as an instructor in the University of Washington’s Real Estate Program for the past several years. She has served as President of Washington State SIOR and founded and headed the local chapter for CSCMP (Council of Supply Chain Professionals). She is sought after as a speaker, having addressed numerous industry meetings and conferences throughout her career.

Wilma received a Masters of Architecture from the University of Washington. She is a registered architect and, early in her career, worked on the design and planning of several commercial projects at NBBJ in Seattle.

Ian O'Brien

Associate Director

Savills

an O'Brien is an Associate Director at Savills, specializing in industrial real estate advisory. Based in the firm’s Seattle office, Ian focuses on the manufacturing, logistics, and emerging technologies sectors. With over a decade of consulting and operations experience, he brings a unique perspective—shaped by his background as an industrial occupier—to every project. Ian’s consultative approach provides clients with tailored solutions that integrate workforce analytics, supply chain optimization, financial structuring, and real estate execution, helping them enhance operational efficiency and reduce risk and expense.

Developing, Designing & Delivering Prime Industrial Spaces

Spec vs. Build-to-Suit, Evolving Tenant Demands, Flexibility, Sustainability, and Modern Warehousing

Bart Brynestad

Bart Brynestad

Principal

Panattoni Development

Tim Shoultz

Tim Shoultz

CEO

SMARTCAP

Balmiki Bhattacharya

Balmiki Bhattacharya

Principal

HKS

Chris McInroe

Chris McInroe

Partner and VP

Perlo Construction

Denice Tokunaga
Moderator

Denice Tokunaga

Partner

Seyfarth Shaw

Bart Brynestad

Principal

Panattoni Development

Bart Brynestad has more than 30 years of experience in development, construction and leasing of industrial, office and retail projects. As partner in Seattle, Bart is responsible for overseeing all aspects of the development process, including land acquisition, finance, design, permitting, marketing, leasing and the sale of each project. Bart’s leadership and coaching ability has helped Panattoni quickly become one of the busiest developers in the Pacific Northwest. Bart has led his team to be the most active developer in Washington State. Projects for which Bart has been responsible have totaled more than 16 million square feet.

Tim Shoultz

CEO

SMARTCAP

Tim Shoultz, SMARTCAP’s Chief Executive Officer, focuses on SMARTCAP acquisitions and development,

where he applies rigorous standards in risk analysis. Tim founded SMARTCAP in 2014 after a successful

career in technology to focus on his passion for real estate. During his 15 years at Microsoft, Tim worked

in the Windows organization as a principal-level development manager. He ran an organization

responsible for large-scale data analytics and quickly realized he had a knack for leadership and building

a successful company culture. Tim bought his first building in 2010 and successfully launched his first

syndication in 2011 which led him on the path to starting SMARTCAP in 2014. Over the last 13 years, Tim

has completely over $650MM in transactions and deployed nearly $250MM in private equity. Tim has

also launched a successful commercial construction company with a focus on industrial, office, medical,

retail, and general commercial projects. Tim has a passion for his job, travel, skiing, and rock climbing.

Balmiki Bhattacharya

Principal

HKS

Balmiki Bhattacharya is a Principal at HKS Inc. a global Architecture firm. He is known as a trusted advisor who truly enjoys living in the details and continually pushes boundaries to create best-in-class solutions while driving cross-functional teams towards a common goal. As an architect and creative problem solver, Balmiki collaborates with clients to create unique solutions specific to their business needs. His past experience working for developers as well as consulting firms, allows him to build bridges, empowering forward-thinking companies to achieve their goals while forming enduring partnerships. Balmiki’s area of focus is advanced industrial, manufacturing, logistics and mission critical.

Chris McInroe

Partner and VP

Perlo Construction

Chris has nearly two decades of experience in the construction industry and has managed some of Perlo’s largest and most complex projects. Throughout his career, he has been heavily involved in the industrial market, overseeing 32 projects totaling nearly 7,000,000 square feet with a combined value of approximately $465 million. In addition to his hands-on project management experience, he has also contributed to the completion of both Gold and Silver LEED and BREEAM certified industrial structures. Chris is recognized for his exceptional ability to build rapport with teams and owners alike, creating an environment of collaboration and trust that is essential for project success.

Outside of work, Chris enjoys coaching his son’s little league teams, skiing, and snowboarding, and flexing his creative skills by writing fiction stories.

Denice Tokunaga

Moderator

Seyfarth Shaw

Denice Tokunaga is a partner at Seyfarth Shaw LLP and the Seattle office co-managing partner. She collaborates with private and public companies, developers, government entities, utilities, and institutional investors on the full spectrum of commercial real estate matters, including leasing, acquisitions and disposition, and development. Denice has strong experience in industrial leasing, having negotiated leases for more than 150 million square feet for the fulfillment, distribution, data center, and other industrial uses.

What You'll Learn:

What You’ll Learn:

  • Gain insights into the top submarkets in the Pacific Northwest for logistics real estate and the supply and demand dynamics shaping the market.

  • Discover the key challenges developers face in designing and building sustainable, state-of-the-art logistics centers and the strategies they use to overcome them.

  • Understand how the tenant base in the PNW has evolved and its impact on design and development strategies.

  • Learn about the latest technological innovations and design trends transforming warehouse operations across the PNW.

  • Explore strategies for overcoming development hurdles such as regulatory issues, construction delays, and supply chain disruptions.

  • Examine how sustainability initiatives are being integrated into warehouse development and the operational benefits they deliver.

  • Assess the future trajectory of the logistics real estate market, considering evolving tenant needs, sustainability, and innovations in design and technology.

 

How You’ll Do More Business: Despite macroeconomic challenges, the PNW industrial market remains strong, with 1.2M SF of net absorption in Q3 2024. With 2.6M SF delivered and 6.3M SF under construction, opportunities abound. This event will help you navigate these dynamics, capitalize on the demand for sustainable logistics centers, and identify key development opportunities as the market evolves.

Who You’ll Meet During Networking: Owners, developers, investors, brokers, city and government officials, business consultants, architects, engineers, lawyers, accountants, and bankers.

Why You Should Attend This Session: Bisnow events bring together the biggest power players in the industry to help you identify opportunities, build your network, and expand your business. With the largest audience of commercial real estate professionals in the world, no one knows how to help your business more than we do.

For questions, recommendations, comments, or press inquiries please email our event producer, Bora Altunay, at  bora.altunay@bisnow.com. To request disability-related accommodations, please contact rachel.sundin@bisnow.com no later than seven business days prior to the event.

Interested in Sponsorship?

Contact zach.zeiner@bisnow.com to get information on sponsorship, pricing and availability at this event.

Venue

Hilton Motif Seattle
1415 Fifth Avenue
Seattle, WA 98101

Ballroom: Emerald Ballroom


Parking at the hotel - $25 hours for 4 hours
Rainier Square Garage - $20 up to 4 hours, $24 for 4 to 6 hours

Get Directions

Agenda

Time Activity
4:00 PM
5:00 PM
Breakfast & Networking
5:00 PM
5:45 PM
Where Are We in the Cycle? Strategies for Acquiring and Investing in PNW Logistics Real Estate

Exploring Supply vs Demand Dynamics, Top Submarkets, Leasing Trends, and Site Selection

5:45 PM
6:00 PM
Networking Break
6:00 PM
6:45 PM
Developing, Designing & Delivering Prime Industrial Spaces

Spec vs. Build-to-Suit, Evolving Tenant Demands, Flexibility, Sustainability, and Modern Warehousing

6:45 PM
7:15 PM
Closing Networking

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