Adding Value with Shy Assar

Shy Assar
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Welcome to Adding Value, the show where commercial real estate meets real insight. Hosted by Shy Assar, each episode dives into the deals, decisions, and dynamics shaping the world of industrial and commercial real estate. From development strategy to capital markets, we sit down with industry leaders who are building the future — literally. Real deals. Real insight. Real estate — from the inside out.

  1. 4d ago

    Inland Empire Industrial Real Estate: What Voters REALLY Think About Warehouses | Dr. Adam Probolsky

    If you attend local city council hearings, read the headlines, or follow Sacramento debates, the narrative seems clear: the Inland Empire is entirely anti-warehouse, and logistics facilities offer dead-end jobs that nobody wants. But does the vocal opposition at the public microphone actually reflect what everyday community members believe? In this episode of Adding Value, host Shy Assar sits down with Dr. Adam Probolsky, President of Probolsky Research, who recently conducted a comprehensive, scientific voter survey across Riverside and San Bernardino counties in partnership with CREDA. Together, they break down the empirical data behind community sentiment, examine the echo chambers that drive planning commissions, and reveal the surprising gap between public perception and real voter priorities. Key Discussion Points:• The Mainstream Narrative vs. The Silent Majority: Why public comment periods skew heavily toward vocal opponents while everyday residents focus on day-to-day life.• Inside the Survey: How non-partisan public opinion polling provides local governments and developers with unvarnished constituent insights.• Community Support & The Personal Connection: The real baseline support for logistics growth across the Inland Empire and the significance of 55% of residents knowing someone in the industry.• Labor & Automation: Addressing the perception around warehouse wages, job quality, and the persistent need for human workforces alongside tech.• The Informed Voter Delta: Why voter support for logistics increases once residents are presented with balanced data on fiscal contributions and community standards.• Entitlements & CRE Strategy: Why industrial developers and investors must incorporate proactive public affairs and constituent data into modern land use planning. About Dr. Adam Probolsky:Dr. Adam Probolsky is the President of Probolsky Research, a Latina- and woman-owned market and public opinion research firm working across corporate, election, and government sectors in 29 states. He is also a Senior Research Fellow at the Drucker School of Management at Claremont Graduate University and has served in multiple local government and special district roles. 🌐 Learn more about Probolsky Research: https://www.probolskyresearch.com/ 00:00 - The Mainstream Logistics Narrative vs. Polling Data01:00 - Welcome & Episode Introduction: Dr. Adam Probolsky01:57 - What Is the Prevailing Public Narrative Around Warehouses?03:07 - Public Hearings & The "Vocal Minority" Echo Chamber04:02 - Dr. Adam Probolsky’s Background & Public Opinion Research05:03 - How Local Municipalities & Special Districts Use Polling Data06:15 - Gauging Voter Priorities: Allocating Public Funds Effectively36:40 - The Shifting Entitlement Landscape: Public Affairs in Land Development37:45 - Navigating Politics, Local Officials & Community Stakeholders38:16 - The Informed Voter Delta: Why Logistics Support Increases with Facts39:27 - Closing Remarks & Key Takeaways with Dr. Adam Probolsky Connect with Adding Value:Host: Shy Assar | Voit Real Estate ServicesIndustrial Real Estate Brokerage & Advisory across the Inland Empire, Southern California.Follow along on YouTube, Spotify, and Apple Podcasts. #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #Logistics #Warehouses #CRE #CREDA #PublicPolicy #VoitRealEstate Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  2. 4d ago

    Inside a $4.8M Industrial Outdoor Storage (IOS) Deal in Fontana | Benji Miller

    IIndustrial outdoor storage (IOS) has shifted from overlooked mom-and-pop truck yards into one of the most profitable, highly competitive sectors in commercial real estate—consistently outperforming traditional core asset classes. In this episode of Adding Value, host Shy Assar sits down with Benji Miller, founder of Negresco Property Group. Benji shares how he transitioned from working on massive institutional portfolios to launching his own firm and teaming up with Bethesda-based Open Industrial to deploy programmatic capital across Southern California. We dive straight into our recently closed transaction at 10905 Hemlock Avenue in Fontana, CA—a $4,800,000 all-cash acquisition ($50/LSF) on 2.20 acres featuring a ±10,000 SF building and verified by-right truck and trailer storage. In this episode, we cover: • The 10905 Hemlock Breakdown: Sourcing, front-end due diligence, and navigating Fontana’s strict zoning landscape.• The 1–3 Acre Sweet Spot: Why smaller low-coverage parcels provide the highest leasing velocity versus chasing "white whale" 10-acre sites. • Acquisition Criteria: Why sub-30% coverage, functional service facilities, and dual-street ingress/egress are non-negotiable for institutional IOS. • Structuring Co-GP & Equity Partnerships: How emerging sponsors scale by leveraging balance sheets, LP equity, and patient capital. • Capital Markets & IOS Maturation: Debt conditions, cap rate expectations (fives to high sixes), and how 1031 buyers view IOS today. • Advice for Brokers & Sponsors: The "unicorn" skill set of raising equity vs. finding deals, and how brokers can win institutional business. Timestamps:00:00:00 - Preview: Sponsorship Rules & Finding Alpha in Small Deals00:01:09 - The Rise of Industrial Outdoor Storage (IOS)00:02:02 - Breaking Down 10905 Hemlock Ave ($4.8M Fontana Acquisition)00:03:38 - How the Deal Came Together: Sourcing & 2-Decade Trucking History00:05:40 - The 1–3 Acre Sweet Spot vs. Chasing "White Whales"00:07:20 - Negresco’s Co-GP Partnership with Open Industrial00:08:44 - De-risking Due Diligence Upfront with Land-Use Counsel (Allen Matkins)00:11:04 - The Value-Add Business Plan & CapEx Playbook for Hemlock00:12:56 - Aggregating "Golden Tickets": Flexible Capital & WALT Strategy00:14:10 - Why Institutional Equity Is Chasing Niche Alternative Assets00:18:09 - Benji's Pivot: From $700M Hackman Deals to Entrepreneurship00:20:26 - The True Cost of Starting a Firm & Balancing Family00:24:44 - A Note for Inland Empire Industrial Owners00:25:13 - How Co-GP Equity Stacks & GP Co-Invest Splits Work00:28:42 - The Sub-30% Coverage Rule & Functional Shop Space00:31:46 - Municipal Moats: Why Cities Don't Want More Truck Yards00:32:50 - Acquisition Target Range ($3M to $50M+)00:33:49 - IOS Portfolio Exit Strategies, Recaps & Maturing Loans00:36:14 - SoCal Cap Rates & 1031 Exchange Buyers in IOS00:37:51 - How Long-Term Relationships Turn into Closed Transactions00:40:46 - Advice for Next-Gen Sponsors: The Sponsor Rule of Survival00:44:06 - What Top Brokers Must Do to Win Institutional IOS Business00:47:03 - Closing Thoughts Connect with Shy Assar:Voit Real Estate Services: https://voitco.comEmail: SAssar@voitco.comFollow on YouTube: @AddingValueShyAssar Watch the full episode here: https://www.youtube.com/watch?v=7qT_5Pw0cTo #IndustrialOutdoorStorage #IOS #CommercialRealEstate #IndustrialRealEstate #Fontana #InlandEmpire #AddingValue #creative  Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  3. 6d ago

    Prologis Exec Kim Snyder: Inland Empire Industrial Market Reset, Power Bottlenecks & What’s Next

    Southern California went from record-breaking sub-1% vacancy straight into an 8%–10% market reset, rising concessions, and an aggressive power bottleneck. What does this cycle look like to the largest industrial landlord in the world? In this episode of Adding Value, host Shy Assar sits down with Kim Snyder, Executive Director and former President of the West Region at Prologis. With over 40 years of commercial real estate experience—and two decades steering Prologis’s Western footprint—Kim provides an unfiltered breakdown of where the industrial real estate cycle stands, how Prologis is tackling the power and utility crunch with on-site generation and EV mobility, and what commercial brokers must do to survive and add value in a mature market. Key Topics Covered:• The Southern California & Inland Empire market reset: Why the trough lasted longer than expected• Why the big-box industrial market (1M+ SF) cleared out faster than mid-bay spaces• How AB 98 and local community pushback/moratoriums are shifting land entitlement• Inside Prologis Energy: Rooftop solar, battery storage, and OnPrem microgrid self-generation• "Location, Power, Power": Why utility access is now dictating industrial site selection• What top institutional landlords like Prologis look for in elite brokers 📍 Serving owners, investors, and occupiers across the Inland Empire and Southern California:If you are an owner, asset manager, or leasing director with a 100,000+ SF facility or upcoming vacancy in the Inland Empire, let's talk about repositioning and executing a targeted marketing campaign. Reach out to Shy Assar:🏢 Voit Real Estate Services🌐 Adding Value Podcast: https://www.youtube.com/@AddingValueShyAssar TIMESTAMPS:00:00 - Preview & Episode Teaser01:06 - Introduction: Kim Snyder & Prologis Energy01:43 - SoCal Industrial Market Reset: Where Are We in the Cycle?04:00 - Why the SoCal Trough Lasted Longer & The Inbound Port Surge06:55 - Mid-Bay (100k–150k SF) vs. Mega-Box (1M+ SF) Absorption09:08 - Cheap Capital, Overbuilding & Pushback Against Warehouses11:35 - AB 98, Setbacks, Solar Mandates & Land Entitlement Hurdles13:50 - Prologis’s Underwriting & Long-Term Customer Centricity17:19 - Inside Prologis: 1.3B SF, Essentials & Venture Capital22:30 - How Landlord Amenities & "White Glove Service" Win Leases24:36 - Prologis's 90M SF Inland Empire Footprint & Broker Relations27:24 - Kim Snyder’s 40-Year Career: From 1984 LA Dirt to AMB & Merger33:45 - Succession, Executive Director Role & Moving into Energy36:02 - Prologis Energy: Solar, EV Fleet Mobility & Battery Storage38:00 - OnPrem Power & Microgrids: Solving the Grid Interconnection Delay40:00 - Global Coordination: Taxable REIT Subsidiaries & Utility Realities42:15 - "Location, Power, Power": The 5-to-10 Year Energy Bottleneck44:35 - Career Advice for Emerging Industrial Brokers in the Age of AI48:22 - What Separates Elite Brokers from the Rest & The Rise of Redevelopment51:09 - Wrap Up & Contact Shy Assar (Voit Real Estate Services) #InlandEmpire #IndustrialRealEstate #Prologis #CommercialRealEstate #CRE #Logistics #Warehouses #SouthernCaliforniaRealEstate #SupplyChain #CleanEnergy Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  4. Sep 28

    How to Manage 130M SF of Industrial Real Estate | Bud Pharris (Inland Empire & SoCal CRE)

    What does it take to manage over 130 million square feet of industrial space for Blackstone—and what does the future of industrial development look like in Southern California and the Inland Empire? In this episode of Adding Value, Shy Assar sits down with Bud Pharris, former Senior Managing Director of the West Region at Link Logistics and newly appointed Chief Executive Officer of Pacific Industrial. Drawing on over 30 years of industrial real estate experience across Panattoni, DCT Industrial, CRG, and Link Logistics, Bud breaks down the institutional playbook: how Blackstone and Link analyze granular portfolio data, how landlords navigate market shifts and lease concessions, and why Pacific Industrial is doubling down on complex infill development, value-add acquisitions, and high-power autonomous/EV fleet charging infrastructure. We also dive into the operational reality of the Inland Empire and greater Southern California markets—from tenant rightsizing and sublease inventory to power constraints, IOS (Industrial Outdoor Storage), and timeless career wisdom for brokers and developers. TIMESTAMPS: 0:00 - Teaser: Complex Infill, Concessions & Data Centers1:03 - Introduction: The 130M SF Scale of Bud Pharris2:12 - Stepping in as CEO of Pacific Industrial6:06 - Partnering with Dan Floriani & Neil Mishurda9:32 - Acquisition Strategy: Infill Development vs. Secondary Markets11:06 - Inside the Blackstone Machine: Managing 130M+ SF at Link Logistics14:10 - How Institutional Landlords Stratify Data & Forecast Rents16:20 - Navigating Downcycles: 2022 Market Peak vs. Global Financial Crisis17:48 - Levers for Leasing: Concessions, Free Rent, Bumps & Getting Signatures19:53 - Emerging Sectors: Data Centers & Power Constraints in SoCal23:30 - Pacific Industrial’s 3 Pillars & The Autonomous Vehicle (AV) Strategy25:45 - Industrial Outdoor Storage (IOS) & The Race for Powered Land28:02 - Partnering with Shy Assar / Voit Real Estate Services29:25 - Key Metrics to Watch: Tenant Rightsizing, Sublease Space & Submarkets31:22 - What Institutional Landlords Actually Want from Industrial Brokers33:23 - 30 Years of Leadership: Integrity, Empathy & Resilience39:15 - Quotes That Shape a Career: Lessons from Roger Rhodess43:24 - Finding the Love for the Process: Advice for the Next Generation46:24 - Outside of CRE: Longevity, Fitness & Mountain Biking47:28 - Giving Back: Childhelp & Mentoring Youth via Project Destined CONNECT WITH BUD PHARRIS & PACIFIC INDUSTRIAL:Website: https://www.pac-industrial.com/LinkedIn: https://www.linkedin.com/in/bud-pharris-5b682312/Childhelp: https://www.childhelp.org/ #IndustrialRealEstate #InlandEmpire #CommercialRealEstate #LinkLogistics #Blackstone #PacificIndustrial #CRE #Warehousing #SupplyChain #Logistics #SoCalRealEstate #AddingValuePodcast Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  5. Sep 8

    Inland Empire Industrial Real Estate: What Voters REALLY Think About Warehouses | Dr. Adam Probolsky

    If you attend local city council hearings, read the headlines, or follow Sacramento debates, the narrative seems clear: the Inland Empire is entirely anti-warehouse, and logistics facilities offer dead-end jobs that nobody wants. But does the vocal opposition at the public microphone actually reflect what everyday community members believe? In this episode of Adding Value, host Shy Assar sits down with Dr. Adam Probolsky, President of Probolsky Research, who recently conducted a comprehensive, scientific voter survey across Riverside and San Bernardino counties in partnership with CREDA. Together, they break down the empirical data behind community sentiment, examine the echo chambers that drive planning commissions, and reveal the surprising gap between public perception and real voter priorities. Key Discussion Points:• The Mainstream Narrative vs. The Silent Majority: Why public comment periods skew heavily toward vocal opponents while everyday residents focus on day-to-day life.• Inside the Survey: How non-partisan public opinion polling provides local governments and developers with unvarnished constituent insights.• Community Support & The Personal Connection: The real baseline support for logistics growth across the Inland Empire and the significance of 55% of residents knowing someone in the industry.• Labor & Automation: Addressing the perception around warehouse wages, job quality, and the persistent need for human workforces alongside tech.• The Informed Voter Delta: Why voter support for logistics increases once residents are presented with balanced data on fiscal contributions and community standards.• Entitlements & CRE Strategy: Why industrial developers and investors must incorporate proactive public affairs and constituent data into modern land use planning. About Dr. Adam Probolsky:Dr. Adam Probolsky is the President of Probolsky Research, a Latina- and woman-owned market and public opinion research firm working across corporate, election, and government sectors in 29 states. He is also a Senior Research Fellow at the Drucker School of Management at Claremont Graduate University and has served in multiple local government and special district roles. 🌐 Learn more about Probolsky Research: https://www.probolskyresearch.com/ 00:00 - The Mainstream Logistics Narrative vs. Polling Data01:00 - Welcome & Episode Introduction: Dr. Adam Probolsky01:57 - What Is the Prevailing Public Narrative Around Warehouses?03:07 - Public Hearings & The "Vocal Minority" Echo Chamber04:02 - Dr. Adam Probolsky’s Background & Public Opinion Research05:03 - How Local Municipalities & Special Districts Use Polling Data06:15 - Gauging Voter Priorities: Allocating Public Funds Effectively36:40 - The Shifting Entitlement Landscape: Public Affairs in Land Development37:45 - Navigating Politics, Local Officials & Community Stakeholders38:16 - The Informed Voter Delta: Why Logistics Support Increases with Facts39:27 - Closing Remarks & Key Takeaways with Dr. Adam Probolsky Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  6. Aug 20

    How Hidden Contamination Kills Industrial Real Estate Deals | David McAlister

    In the world of commercial and industrial real estate, a deal is only as good as the due diligence behind it. Finding a hidden dry cleaner from the 1960s or unearthing a legacy chemical spill can turn a high-performing asset into a capital-intensive nightmare. In this episode of Adding Value, host Shy Assar sits down with David McAlister, founder and Principal of McAlister GeoScience. With over 25 years of experience as a geologist and environmental consultant, David is the go-to advisor for private investors, developers, and Fortune 100 companies navigating complex environmental liabilities. David breaks down the critical nuances of environmental reporting that rarely get discussed on camera. Whether you are buying an owner-user flex space, an old gas station, or a massive industrial facility, this episode is a masterclass in protecting your equity and structuring deals around "dirty" property. David McAlister is a geologist and the founder of McAlister GeoScience, a premier multi-discipline environmental consulting firm based in Southern California. With 25 years of industry experience, David specializes in Phase I/II assessments, risk management, and site remediation for private investors and developers. 🌐 Visit McAlister GeoScience: https://www.dirtyproperty.com/ Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  7. Aug 17

    The Inland Empire Industrial Engine: Inside the City of Fontana with Mayor Acquanetta Warren

    What We Discuss: Managing an $898M budget with strict fiscal responsibility Manufacturing vs. logistics: What’s really inside Fontana’s industrial buildings Adaptive reuse: How industrial zoning supports churches, schools, and a regional homeless navigation center Pro-business initiatives, downtown revitalization, and infrastructure-first planning Mayor Warren’s journey in public service and vision for a historic 5th term Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

  8. Aug 10

    The Inland Empire Industrial Warning Sign Every Owner Needs to See

    TIMESTAMPS 00:00 - Intro & Macro Overview: Highest Vacancy in 13 Years 02:15 - Tale of Two Markets: Mega Big Box vs. Mid-Sized Contraction 05:10 - The Impact of Expiations: 5-Year Leases Rolling Off COVID Peaks 08:30 - Inland Empire West (100k–250k SF): Case Study & Security Deposits 12:45 - Monetary Policy, M2 Supply, & Corporate Downsizing Realities 15:20 - Efulfill Deal Deep Dive: $1.21 Gross & Racking Solutions in Fontana 18:50 - How Gen Z/Millennial Shopping & TikTok Drive Modern 3PL Expansion 22:15 - Class A vs. Class B Divergence in the 500k+ SF Segment 26:40 - Are Developers Just Building and Waiting for Amazon? 31:10 - Inland Empire East Breakdown: Labor Dynamics & Rate Compression 36:00 - BFG Supply Case Study: Securing an 82¢ Net Deal in San Bernardino 40:25 - The 800k SF Comar Deal: Custom Build-to-Suit Features & Purchase Rights 45:10 - California Business Climate vs. Out-of-State Migration (Phoenix/Vegas) 48:30 - Brokerage Strategy: Servicing Clients & Communicating Through Soft Markets 52:15 - Have We Bottomed Out? Historical Trend Line Analysis & Final Thoughts   Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate. Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform. Follow on Instagram and TikTok @AddingValueShyAssar Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91 #CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics

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5 Ratings

About

Welcome to Adding Value, the show where commercial real estate meets real insight. Hosted by Shy Assar, each episode dives into the deals, decisions, and dynamics shaping the world of industrial and commercial real estate. From development strategy to capital markets, we sit down with industry leaders who are building the future — literally. Real deals. Real insight. Real estate — from the inside out.

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