Working inside an operating business changed how I look at buildings. You stop seeing square footage and start seeing workflow. That perspective still guides his work today. It helps him understand tenants and advise property owners with more clarity.
It has been trading sideways since 2023 due to a variety of issues. Namely, interest rates have been too high, and this hasn't given REITs the room to recover. Remember, REITs are businesses with high debt loads and high interest rates, which puts disproportionate pressure on them. However, these REITs have been able to avert the worst. They've drawn lessons from 2008, and most of them have paid growing dividends in the past couple of years and have even expanded them.
"If tariffs cause imports to fall 25% as predicted by the Tax Foundation think tank, the result would be severely negative for the industrial market with rising vacancy and slowing of new construction," analyst Jesse Gundersheim said.
