| Unlike Waldo, we'll just tell you. Lathan Allen, perhaps better known for a string of industrial developments along the East Coast, has joined Jones Lang LaSalle and is setting his efforts to sell warehouses. After all, spec development is probably not going to happen again for awhile (think Halley's Comet). | |||
| Lathan has joined JLL's capital markets business as a managing director, coming from his former company Augustus Holdings, which handled distressed properties in Tampa. He will report to the head of industrial investment sales John Huguenard in Chicago, and will handle sales in the Southeast. ?Industrial sales have absolutely picked up in the last two years,? Lathan tells us, especially among core stabilized assets, which are being eaten up by institutional investors. But, for now, Lathan—who developed 1.5M SF of industrial space by 2009—says his development days are behind him. ?I always built spec. And in order to build spec … you're guaranteeing loans,? he says. And when the spec market comes back, it'll be REITs and larger capital players that jump in first. | |||
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