Industrial Insights

Justin Smith
  • 5.0 (5)
  • Investing
  • Daily

Industrial Insights is a podcast that highlights the market dynamics, high level strategies, and in the trenches tactics for tenants and owners of industrial real estate. Each episode is designed to take hard fought wisdom from practitioners and break it down into insights that can drive better commercial real estate decision making. The host, Justin Smith, shares his experiences from 16 years in the business and brings in industry experts to discuss critical aspects of successful industrial projects.

  1. 4h ago

    Boise: One of the West's Top Growth Markets (I-84, Micron & Highway 16) | Nick Provenzano, SIOR

    What happens when a Western market stays open in 2020, draws a wave of California migration in 2021, and sees construction and land costs reset the industrial rent floor? Nick Provenzano, SIOR, Principal at Lee & Associates Idaho, joins Justin Smith, SIOR, on Industrial Insights to break down the Treasure Valley industrial market and his rapid rise from Boise State walk-on football player (recruited out of Glendora, California in 2016) to Principal in five years. We walk through how the 2021 inward migration double boom pushed Boise industrial lease rates to all-time highs, how traffic flows along the I-84 spine from Micron's Southeast Boise campus through Meridian, Nampa, and Caldwell, and how the New Highway 16 extension is resetting the 50-yard line of the valley toward Star, Eagle, and Emmett. Nick also shares his four-step daily brokerage flywheel built with Founding Principal Matt Mahoney, SIOR, Jason O'Very, and Massimo coaching, how bird-dogging 20-to-100-acre farm tracts for a national home builder taught him entitlements and public hearings, why small-bay space at $1.50 to $1.60/SF/mo NNN and 10% to 15% coverage industrial outdoor storage (IOS) cannot be replicated at today's land basis, and how he invests alongside industrial clients without buying himself a second job. In this episode 00:00 Introducing Nick Provenzano, SIOR, Principal at Lee & Associates Idaho 00:19 Recruited from Glendora, California to play football at Boise State (2016) 00:45 Pivoting from football to sales, interning at Lee Idaho (2020), and becoming Principal 01:55 Getting thrown into the fire during the 2021 Boise industrial boom 02:43 How Boise stayed open during COVID and triggered the 2021 inward migration double boom 04:12 Why Boise industrial lease rates are at all-time highs (ATH) 05:58 Mentorship under Founding Principal Matt Mahoney, SIOR and Jason O'Very 07:55 Partnering with Associate Mike to build a team running at the same speed 10:14 The 4-step daily flywheel: Boise State football process + Massimo coaching 11:32 Balancing active deals near the end zone vs. protecting the daily prospecting hour 14:27 How new brokers win their first deals by peddling office listings and canvassing neighbors 15:55 Bird-dogging 20-to-100-acre farm tracts for a national home builder to learn land development 17:23 Public hearings in the Treasure Valley: why neighbors fight 150 homes more than warehouses 20:24 Mapping the I-84 industrial corridor (Boise, Meridian, Nampa, Caldwell) and Micron's SE Boise fab 22:02 New Highway 16: resetting the 50-yard line of the Treasure Valley toward Star, Eagle, and Emmett 24:30 Small-bay industrial ($1.50-$1.60/SF/mo NNN) and why 10-15% coverage IOS cannot be rebuilt 28:11 Investing in industrial real estate with clients vs. buying yourself another job as a landlord 33:59 Closing advice for young brokers: a goal without a plan is just a dream Recorded November 3, 2026. Visuals include Lee & Associates Idaho industrial property photography, Treasure Valley corridor maps (I-84, New Highway 16, and Southeast Boise), and labeled AI visualizations where noted on screen. Full transcript, chapters, and video clips: https://smithcre.com/podcast/nick-provenzano/

    Boise: One of the West's Top Growth Markets (I-84, Micron & Highway 16) | Nick Provenzano, SIOR

  2. 19h ago

    Models in Hours, Not Weeks | Prasad Mahajan, Optilogic

    Where a warehouse goes is a supply chain decision before it is a real estate decision. Prasad Mahajan, Senior Director of Customer Engagement at Optilogic, joins Justin Smith on Industrial Insights after 22 years across Transplace and Uber Freight. We walk through how a network model weighs service against cost, why a manufacturer with a plant in Salt Lake City still kept its distribution center in Rialto, when executives override the math, and how testing a nearshoring move saved a company from relocating production for a short-term disruption. We also cover how agentic AI is compressing model builds from weeks to hours, why 3PLs are winning business as strategic advisors, and how running thousands of simulations can tell an occupier when it will run out of warehouse capacity years before signing the next lease. Recorded October 30, 2026. Client examples and modeling timelines are Prasad's accounts from his work; illustrative warehouse footage and maps do not depict named customer sites. Optilogic Optilogic Cosmic Frog Optilogic DataStar Optilogic Ada (Agentic AI) Episode page, clips and transcript Industrial Insights with Justin Smith, SIOR.

    Models in Hours, Not Weeks | Prasad Mahajan, Optilogic

  3. 19h ago

    Better at the Table Than on the Menu: IWLA & Advocating for 3PLs | Doug Sampson, Acme Distribution

    Industrial Insights

    Better at the Table Than on the Menu: IWLA & Advocating for 3PLs | Doug Sampson, Acme Distribution

  4. 20h ago

    Before the Robots | Parth Pethani, Prologis

    A flat floor, a big power number and a signed purchase order do not tell you whether a warehouse is ready for automation. Parth Pethani of Prologis is back on Industrial Insights. We talk through the checks that can change a project before it starts: floor conditions, transformer capacity, fire protection, permit sequencing, warehouse software and the people responsible after go-live. Parth also shares where he sees AI helping with software development and supply-chain analysis, why physical execution still matters, and how midmarket 3PLs can start with specific tasks. Recorded October 29, 2026. Customer examples and project figures are the speakers' accounts; they are not independently measured benchmarks or engineering specifications. Parth's newsletter: https://parths-newsletter-7ea31b.beehiiv.com/ Warehouse Automation Maturity Model: https://whserobotics.com/maturity-model/ Our previous conversation: https://smithcre.com/podcast/parth-pethani/ Visual sources: Prologis / DEVELON, Boom, Belgium (illustrative warehouse imagery); Parth Pethani / Whserobotics, Warehouse Automation Maturity Model (2026). Industrial Insights with Justin Smith, SIOR.

    Before the Robots | Parth Pethani, Prologis

  5. 4d ago

    Raising the Roof on Industrial Buildings | Marty Shiff, Rooflifters

    When does an older industrial building deserve another look? Marty Shiff, President / CEO of Rooflifters, joins Justin Smith to pick up their 2019 conversation. We talk about what has changed in roof lifting and where the opportunity is today: partial lifts for manufacturing and storage, more loading, stronger slabs, better column spacing and the math behind keeping an existing building. Marty walks through an illustrative project budget, the surprises to look for before committing, and how his team uses AI renderings to help owners see what a building could become. We also discuss the client mix, rent spreads, steel availability and warehouse automation. The costs and schedules discussed are examples that depend on the building, location and scope. Recorded October 26, 2026. Guest: Marty Shiff, President / CEO, Rooflifters https://rooflifters.com/ Watch the full conversation on YouTube

    Raising the Roof on Industrial Buildings | Marty Shiff, Rooflifters

  6. 6d ago

    Jeff Janda on Chicago Industrial, Client Trust, and Building Lee

    Jeff Janda, SIOR, Principal at Lee & Associates of Illinois, joins Justin Smith, SIOR, on Industrial Insights to discuss Chicago industrial real estate and the relationships that have shaped his career. We cover building Lee's Chicago office, matching clients with local expertise, O'Hare and the surrounding industrial corridors, Chicago versus California lease structures, property taxes, renewals, ownership, and mentoring the next generation. Jeff also shares lessons from his mentor and longtime partner, Jim Planey. In this episode 00:00 Jeff Janda and the Chicago office 00:47 Building Lee in Chicago 03:45 Running a broker owned office 05:30 Chicago industrial geography 10:10 Serving clients across the market 14:17 Lessons from Jim Planey 15:59 Chicago and California lease structures 17:10 Cook County taxes and incentives 22:22 Institutional ownership 24:43 Rents, land, and redevelopment 28:25 Renewal negotiations 33:06 Data centers and industrial demand 34:58 Owning industrial property 38:02 Mentoring the next generation 39:34 Technology and personal relationships Map graphics use Lee & Associates' Q2 2025 Chicago report, page 5. On-screen vacancy statistics use Lee & Associates' Q3 2026 Chicago report, page 2. The map and data dates are shown separately. Rent examples in the conversation reflect the building and situation Jeff is discussing. Episode page and clips: smithcre.com/podcast/jeff-janda/ Watch on YouTube: youtu.be/ExG3zfYAJZs

    Jeff Janda on Chicago Industrial, Client Trust, and Building Lee

  7. Oct 26

    Patrick Van Hull on Supply Chains, Better Decisions, and Lifelong Learning

    What does a company's delivery promise mean for the warehouse it needs? Patrick Van Hull and I discuss inventory, distribution, and the operating decisions behind industrial real estate. Patrick taught my supply chain strategy class at the University of Arkansas, and this conversation explores the industry experience behind his teaching. We talk about the decisions behind a warehouse requirement, what companies can learn from other industries, and how working professionals bring classroom lessons straight back to their jobs. Patrick also explains why AI has brought him back to the industrial engineering questions he started with: how work gets done, where it gets stuck, and what can be improved. In this conversation: • How factory layouts, inventory, and financial performance connect • The link between industrial minerals and iPhone screens • When an outside distributor may serve customers better than an in-house operation • What teaching working professionals has taught Patrick • How everyday processes affect working capital and performance • Why knowing how to find an answer matters Hosted by Justin Smith. Recorded October 23, 2026. Chapters 00:00 How delivery requirements shape warehouses 00:15 Patrick's career and the experience behind his teaching 03:46 From a mine to an iPhone screen 05:26 Industrial engineering in the AI era 07:53 Inventory, delivery, and the warehouse requirement 10:11 Forecasting demand when the signals change 11:50 Executive advisory at SCM World and Gartner 16:50 Build in-house or work with a distributor? 18:23 Joining Arkansas and keeping the program current 21:19 Teaching lessons working professionals can use 24:37 Network design and human judgment 27:59 Salesforce and the workarounds inside everyday processes 30:25 Working capital and underlying processes 33:56 Raising the floor and learning to find an answer 36:39 Mentoring and owning your perspective

    Patrick Van Hull on Supply Chains, Better Decisions, and Lifelong Learning

  8. Oct 26

    When More Freight Doesn't Mean More Warehouse Demand—with Craig Fuller

    More freight does not automatically mean more warehouse space. Craig Fuller, founder and CEO of FreightWaves, joins Justin Smith to explain why large importers can handle more volume without expanding their real estate footprint—and why freight data needs to be read by customer, transportation mode and location. We discuss the pickup in warehouse leasing, industrial activity moving inland, the differences between rail, flatbed and dry van, and Craig's views on AI data centers, defense spending and energy as drivers of industrial demand. For owners, occupiers and advisors, the question is which activity creates a need for additional space and which can run through a network that already exists. Guest: Craig Fuller, Founder and CEO, FreightWaves Host: Justin Smith, SIOR, Lee & Associates Irvine Recorded October 23, 2026. Market assessments and forecasts reflect the speakers' views at the time of recording. FreightWaves Chapters 00:00 Why more freight can use existing warehouses 00:15 Craig Fuller and FreightWaves 01:16 Consumer demand versus industrial demand 02:25 The pickup in warehouse leasing 03:24 Freight activity and the shift inland 04:14 More volume through existing warehouse networks 05:30 Rail, flatbed and dry van 06:49 Busy ports and Southern California leasing 08:18 Orderly freight, rates and carrier capacity 10:07 Working through excess warehouse supply 11:23 Craig's case for AI, defense and energy 12:45 Energy access and industrial location 15:13 How long can the industrial cycle last? 16:39 Political risk to the buildout 17:12 Closing

    When More Freight Doesn't Mean More Warehouse Demand—with Craig Fuller
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Ratings & Reviews

5
out of 5
5 Ratings

About

Industrial Insights is a podcast that highlights the market dynamics, high level strategies, and in the trenches tactics for tenants and owners of industrial real estate. Each episode is designed to take hard fought wisdom from practitioners and break it down into insights that can drive better commercial real estate decision making. The host, Justin Smith, shares his experiences from 16 years in the business and brings in industry experts to discuss critical aspects of successful industrial projects.

Information

  • Creator
    Justin Smith
  • Years Active
    2021 - 2026
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    © Copyright 2024
  • Show Website
    Industrial Insights

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