Industrial Guy
@TiltWall
Followers
1,745
Following
686
Media
19
Statuses
1,025
100M SF of Industrial Real Estate Leased & Managed Across DFW
Dallas, TX
Joined May 2023
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
Olympics
• 3648433 Tweets
Venezuela
• 1163798 Tweets
Jesus
• 786057 Tweets
Christianity
• 513987 Tweets
Bitcoin
• 511084 Tweets
Last Supper
• 381608 Tweets
Hezbollah
• 376126 Tweets
Chelsea
• 160380 Tweets
The Villages
• 138782 Tweets
Sanchez
• 115771 Tweets
Druze
• 107447 Tweets
لبنان
• 97363 Tweets
Lebanon
• 91668 Tweets
C Spire
• 69251 Tweets
Yankees
• 60871 Tweets
Demichelis
• 55824 Tweets
Jazz
• 55572 Tweets
#アイドルへモーニングコール
• 47003 Tweets
Gallardo
• 44743 Tweets
Maresca
• 33094 Tweets
Gary Gensler
• 32985 Tweets
Apollo
• 29968 Tweets
#UFC304
• 29412 Tweets
Babi
• 19651 Tweets
Giannis
• 19005 Tweets
Rony
• 17344 Tweets
#ボクらの時代
• 16666 Tweets
Shai
• 16314 Tweets
Dionysus
• 14697 Tweets
ブライアン
• 11804 Tweets
Paiva
• 10217 Tweets
#JoyceChisora
• 10198 Tweets
Just had a tenant walk their lease. No heads up. About two years left on their lease and $400k in remaining lease obligations.
52
3
118
There are a couple spots in Dallas that frequented by CRE folks:
Flying Fish (Preston Center)
Javier’s
Sevy’s
Ascension (The Crescent)
White Rock Coffee (Preston Center)
Jen’s
Go to any of these and guaranteed you see brokers/owners getting together.
What am I missing
15
1
54
Head of acquisitions for a big institutional group told our team today they are underwriting to 5.75-6.00% caps now on portfolios
12
0
47
Some interesting takeaways from a few “heavy hitters” at the NAIOP event here in Dallas a few weeks ago.
Speakers:
Jack Fraker (Newmark)
Tal Hicks (Hillwood)
Gray Bouchillon (Nuveen)
Their takeaways on the US/DFW industrial markets:
🍿🍿🍿
4
2
41
Had coffee with a Harvard grad looking to get in the business.
Hearing him talk about his classmates at HBS was insane.
Obama’s daughter, Bill Ackman’s daughter, governor’s children, Saudi prince’s children
🤯
8
0
22
Why do office brokers send 8 page RFP’s?
Working a flex deal and the TRep is an office guy.
So much fluff.
Boil it down to the big points. The rest can be figured out in a lease.
8
0
19
Another great portfolio under contract at a 4.4% in place cap. Low WALT with a good mark to market opportunity.
Functional product. Strong tenant mix. A+ location.
Great buy IMO
5
0
19
Hamid Moghadam (CEO of Prologis) was in Dallas for a market tour and the Prologis Dallas office used our company’s quarterly report to walk him through everything going on in DFW because they thought it was the most useful
7
1
20
Prologis has one of the shortest, simplest clear lease forms.
One off/smaller landlords have the most complicated, strung out lease forms. Some are 40+ pages.
Ironic?
6
1
20
Another portfolio traded at a 5.02% cap with a 4 year WALT
5
0
19
Of the ~22M SF of net absorption in DFW YTD, almost 35% of it has been in one submarket: South Dallas.
South Dallas also has the highest vacancy rate and U/C pipeline.
A lot of South Dallas developers were nervous at the the beginning of the year. But, with 8M SF absorbed in
4
1
18
How many LOI’s do you have to send out in today’s market to get 1 deal under contract?
100?
9
0
17
Our team had 18 leases get fully executed this past week.
Market slowdown? Don’t think so 😊
1
0
16
It’s kind of funny, the brokers with the most product and seemingly the most going on, are the quickest to respond to emails.
The inverse is also true.
Ironic?
12
0
17
In DFW there is a big difference between street brokers and institutional brokers.
Neither is better than the other, just different.
In fact, street brokers may make more $$ at the end of the day.
6
0
15
If you’re constantly asking people for information, you better be ready to share when the time comes.
Information is currency in this business.
3
0
17
Love when you send an off market deal to an acquisitions guy and he hits you with “someone else already sent it to me”
8
0
16
Met with a legend today.
Ever since starting in CRE, I’ve heard nothing but good things about
@ConradMadsen
. This morning at breakfast I got to experience first hand what all the hype was about.
This tweet can’t fit all the praise I have for him. We need more like him! A+ Guy
1
1
14
One of the best parts of CRE is the recycled terms that are overused 😂
“Blocking & tackling”
“Down the fairway”
“They’re having heartburn”
“Let’s huddle up”
“They threw up on that”
“Got pregnant on that deal”
Any others I’m missing?
14
0
15
I love seeing friends that I’ve made through the business crush it at their job.
Even if they work for competitors.
IMO this is not a zero sum game. There is enough for everyone to go around.
1
1
14
@JeffFeldman_
None. Just up and left. Been in the space for almost 30 years.
They were a pretty low maintenance tenant too
3
0
14
Just heard of a guy that left a regional boutique firm for a national brokerage shop.
After 7 months he went right back to the regional firm.
Maybe the grass isn’t always greener?
8
0
14
Closed on a $10m building sale this week. In a year like this, it’s nice to have a good win every now and then.
120,000 SF, heavy power, 1960’s vintage.
Why only $83/SF?
Was 16’ clear warehouse and had large mezzanine office.
Regardless, glad to get it done!
4
0
14
If you’re buying today are you buying basis or buying cap rate?
7
0
15
Have a tenant vacating 12/31/23.
Put their space on the market with an asking price well over 50% of the expiring lease.
Been OTM for 2 weeks and already have had 3 tours and two RFP’s
2
0
13
One of the most underrated and simple skills in brokerage:
Following up
1
0
13
Activity has been off the charts the last 2-3 weeks. Not sure if that’s due to people getting back from summer travels or what, but it feels like the busiest we’ve been all year.
I’m not complaining!
3
0
12
Don’t post much about personal stuff on here, but this morning was a huge milestone for me.
Never been close to running 500 miles in a year before. Football background, so always hated running 😂
Hoping to get to 750 by end of the year.
2
0
13
Let’s unpack the Q2 numbers a bit.
Most people paint the DFW industrial market with one broad stroke. It’s east to read a headline and panic due to the large under construction activity.
When you peel back the layers, it’s actually pretty interesting.
Let’s start big⬇️⬇️⬇️
3
1
11
Sounds like the big brokerages are starting to cut fees… 😳
6
0
11
Received RFP from a national credit tenant.
They have asked for LL to turnkey $22/SF in TI (this space probably in the $4-6/SF range)
A lot of their scope is tenant specific.
As the LL, do you turnkey the work and ammo TI? Do you give TIA and ask them to cover the rest out
4
1
12
Have land sellers adjusted to the market?
Looking at a site yesterday…
9.7 acres. $2.5M asking ($5.91/LSF)
No survey. In the 100 year flood plain.
B-/C+ location
7
1
12
I’d rather sit on a cactus than have to work another sublease direct while negotiating existing tenant’s termination fee and trying to get them to pay unammo’d TI’s/LC’s
Such a headache.
2
1
10
@ReelEstateDude
Definitely part of it. Just gotta move on and hope we can get some sort of termination penalty. In the meantime, focus all efforts on marketing the newly available vacancy
1
0
11
Tenant’s aggressiveness on their renewals changes pretty quickly when you get their space on the market and start showing people through the space
3
0
10
Attention to detail may be one of, if not the, most important traits for young people in the industry to learn.
Double and triple checking work to save the senior agents the time/hassle provides incredible value.
One of our SVP’s always asks “What if your name was on it?”
2
0
11
Have a tenant who is $82k behind on rent.
They are always a hassle to work with. Owner cussed us out and yells just about every time we talk.
Now, they want us to do them a favor and sign off on a waiver for a refinance to free up some capital in their business.
They’re
10
0
12
For TI jobs, do you think most landlords prefer turn keying the work or providing an allowance?
What about tenants preference?
13
1
11
Finally starting to see some construction pricing come down.
Not enough to significantly move the needle, but a good sign nonetheless
5
0
12
A vacant 400k SF bldg just sold to a user in South Dallas.
That’s 1.7m SF of absorption in that submarket in two weeks off the board.
Crazy the big swings in the bulk submarkets
3
0
8
DFW Industrial Q2 Numbers:
Inventory: 940,396,059M
Vacancy: 6.7%
Absorption: +6.6M SF
Leasing Activity: 11.3M SF
Deliveries: 16M SF
Under Construction: 63.5M SF
3
0
10
Starting to see more and more landlords push for 4.5-5.0% annual bumps on leases with the goal to land anywhere above 4%.
My senior partner just laughs and tells stories of deals with zero rent growth not that long ago
3
0
9
Another 1M SF’er leased in Dallas.
Solar group out of China.
Sure are seeing a lot of solar deals in DFW
1
0
8
One thing my senior partner has taught me that has proven invaluable is reading the previous lease when working a renewal.
Seems like a no brainer right?
You’d be shocked at what the TRep & even the Tenant forget/miss from the original lease.
Read leases!!
3
0
9
I’ll never understand why people can’t be happy for someone else getting a deal.
Especially if it wasn’t a deal they were competing for.
Be able to champion and encourage others when they succeed. There’s plenty to go around.
2
0
9
In our Monday meeting yesterday, we got into an interesting conversation of the DFW market as a whole compared to other industrial markets across the country. Some of the interesting takeaways….
****All data is per CoStar, so don’t yell at me.
LA/Inland Empire is the largest
1
0
10
@CarolWalshReal1
I don’t think so. They have gone totally dark on us but we think they are downsizing significantly.
You can bet if we find their new location, we’ll be paying them a visit 😊
1
0
8
This deal just closed in DFW.
920k SF
Link was the seller
$73/SF
5.04% cap
Everyone keeps screaming that the sky is falling… cap rates may be on the rise, but slowly… There seems to still be a strong appetite for industrial in DFW.
#HookedOnTX
#LovinTheLonestar
1
1
9
In my opinion, no deal is worth losing a long term relationship over. Don’t care how big the fee is.
Had to learn this on a deal I spent months working on. Hard pill to swallow but it was the best thing to cut bait.
0
0
8
It’s a great time to be getting in front of ownership groups. A lot of assets trading hands… Landlords know that the easy leasing days of 2021/2022 are over and it’s back to a pre pandemic market.
Good opportunities to pick up new business!
0
0
7
A picture is worth 1,000 words.
States with a population less than DFW 🤯
And that number is only going to continue to grow.
#HookedOnTX
0
2
8
We have a listing for an 8 acre IOS site. It’s in the middle of an industrial park with large tenants nearby. We’ve had great activity on it.
The owner told us this week the city is pushing back on allowing that use…
It’s zoned industrial.
5
0
7
Interesting results.
Case Study: A 1.3M SF tenant in DFW chose a location that was $1.30/SF more than another location because of labor.
$1.3M a year to be closer to better labor.
Logistically speaking, the other location was not in a bad spot.
What do you think is the most important thing to think about when developing an industrial park?
Leave a comment why you think it’s the most important!
4
0
0
5
0
7
Nothing more frustrating than when a broker misguides a building owner on the value of their building.
I’m sorry sir, your class B, semi-functional, 25k SF building vacant in a B submarket is not worth $205/SF
3
0
7
Big weekend in DFW:
Jake Paul vs Nate Diaz
Lionel Messi vs FC Dallas
Post Malone Concert
🍿🍿🍿
0
1
8
Putting together rate analysis showing recent comps in relation to competitive spaces helps nail down where to be when responding to RFPs.
Know the competition and know the market. Remove the guessing!
2
0
7
@chernobelskiy
Not sure what residential is like but I just passed year 2 in commercial brokerage and it is definitely not for the faint of heart.
Long days. Small commissions starting out. Building up from scratch in a very competitive market.
2
0
7
Even in the most overbuilt submarkets of DFW, still plenty of deals getting done
350k SF deal signed in South Dallas this week. $5.85 NNN.
Another 1.2M SF lease signed in Alliance. Rumored to be ~$6.75 NNN start rate 😳😨
1
0
6
These were scattered every 25-50 yards on my run this morning.
A sobering reminder that we are so fortunate to live in the US. I hope I never take it for granted.
Every face was a reminder of someone who laid down their life for me.
Freedom isn’t free. ALWAYS REMEMBER.
0
0
5
Preliminary Q3 numbers for DFW coming in today.
Will do a thread tracking all Q3 numbers here in the next few weeks once we finalize
1
0
7
What school has the most alumni in Dallas CRE?
UT?
A&M?
Tech?
14
0
7
@CaseyMericle
@JeffFeldman_
Cry about it on Twitter ;)
Engage legal (✅)
Walked through the space today to start getting updated floor plans and make ready recs ready for landlord
1
0
7
I will be doing a breakdown of all the Q3 industrial stats for DFW in the next few weeks once the numbers get finalized.
Very curious to see how the end of summer/early fall will reflect in the #’s
0
0
7
Had breakfast with a mentor in the business this morning.
Said his first year he made $12,045.
Second year was $32,739.
Good reminder that it’s the long game.
0
0
7
6) Reshoring
Of all the jobs created from reshoring in the last 10 years, 85% of those jobs were generated in the last 2 years.
Massive semiconductor plants in TX (TI, Samsung) are leading the way.
High-tech manufacturing will be the next wave.
Mexico will benefit greatly.
2
0
5
Just received a blind RFP from a tenant rep broker. They’ve never seen the space before. Never asked about the space before. 145k SF.
Exciting or sketchy??
They did the same on a 130k SF space we lease nearby.
Makes me think they’re just shotgun blasting to shop rates.
8
0
7
Every deal is so different. One of my favorite parts of this job is finding creative solutions to problems. Would love to hear your thoughts on this one:
2
0
7
Seller asking $113/SF for building we offered on.
Toured through today.
No roof report, no environmental reports, no HVAC report, nothing.
Most relevant sales comp is $93/SF.
Sounds about right for today’s market.
2
0
6
Tenants will pay for a good location.
We just renewed a tenant in 112k SF. Their exp rate was $4.27 NNN.
Inked the lease at over $10.00 NNN.
You do the math on the rental increase %.
1
0
6
Have a deal where the tenant has had the lease for over a month and a half. At what point do you rescind the lease and re-trade their terms?
7
0
6
100k SF leases getting done all the way up in Sanger!
Their leasing broker is on this platform.
Whenever you read this- nice work ;)
2
0
5
We’ve had interns in the office since June. Their last day is on Friday.
There’s something about seeing a young person catch the fire in their stomach for CRE. They gave their end of summer presentations today and it fired me up seeing the passion in a few of them!
0
0
6
On that note, we just finished our Q2 report! If you’d like a copy, DM me your email address I’d be happy to send one over if you aren’t already on our distribution list.
6
0
5
One thing I’ve noticed is that all the industry “vets” pick up the phone.
A lot of the younger brokers in the industry would much rather send an email.
Which do you think is more impressionable on a tenant/owner/broker?
8
0
6
On that note, if you have any questions about the DFW Industrial Market, please don’t hesitate to reach out.
We lease/manage 100M SF of industrial product in DFW. Still closing deals and always looking for new opportunities.
Love connecting with folks I’ve met from
#ReTwit
.
Had a great chat with
@NNN_Industrial
this afternoon. What do you know we had a mutual connection as well? Small world.
Can’t wait to see what comes from these relationships.
1
0
2
0
1
5
A lot of the institutional portfolios on the market have closed/are closing soon.
This will be helpful to have some data points on where things are trading at. Looking like things are still ~5.25-5.50% caps.
I think one announcement next week will be sub 5% cap
3
0
6
The Village has got to be one of the best commercial real estate plays in the history of DFW
1
0
5
Are comp breakfasts a thing in other markets? Or is that unique to DFW?
Once a month I get together with 5-6 peers from the industry and we just talk about what we’re seeing, deals we’re working on, recent comps, etc.
So beneficial. Gained a few good friends from it too.
0
0
6
One of the most overlooked submarkets in DFW: Garland.
People get so hot & excited over GSW, Airport, Valwood. Which, those are great infill submarkets.
Garland has phenomenal labor, hardly any new construction, infill and close to executive housing, and lagging market rent
2
0
5
How many RE groups out there have an internal “data” guy/girl?
Solely focused on reports, data collection/analysis, creative deliverables, etc.
If so, would love to hear more about them!
3
0
5
@HarryZikosny
Like showed up to the property managers office with the keys and said we’ve packed up and are gone
1
0
5
I have 0 problem working renewals with TRep brokers on the other side. I prefer it, actually. Helps educate the tenant and hopefully they understand the market.
I do have a problem with TReps that parachute in last minute when the deal is negotiated to collect 4.5% of the fee.
2
0
5
Had a tenant reach out to us today that is downsizing from 150k SF to 12k
😬
3
0
5
What are your thoughts? Do you agree/disagree?
@fortworthchris
@ConradMadsen
@Levijameshere
@constantraise
@TeamHerrold
2
0
4
Let’s start big picture:
The TX Economy.
With $2.4T (yes T) of economic activity, TX ranks as the 9th largest economy in the World 🤯. That’s bigger than Canada, Australia, Russia, and South Korea.
Let that sink in.
#HookedOnTX
#Retwit
#DFWcre
1
1
5
TREC Fight Night tonight in Dallas.
Always thought it would be fun to have a card full of brokers from the industry.
Associate v Associate
MD v MD
Can you imagine the turnout?
2
0
5
A lot of redevelopment opportunities in the near future in DFW.
Markets that didn’t used to be sexy now seem great because of their infill location.
2
0
5
Our MD is one of the best leaders I’ve ever seen. So approachable. He will always stop whatever he is doing and listen when approached.
On top of running the division, he’s a phenomenal broker and well respected. I’d charge the hill for him!
2
0
5
Real time case study showing the bid/ask spread for a buyer who overpaid for a property and is now in a bad spot.
Group marketing the property for $215/SF.
22k SF with 3 acres of outside storage.
Metal bldg with “100% HVAC”.
Turns out HVAC was stolen from property.
3
1
3
You can feel the tenant’s and their brokers confidence level rising when negotiating.
They are getting much more aggressive on counters and playing hardball.
1
0
7
Was going through a long RFP today with my senior partner.
I missed a few “small” things because I was rushing to get it over to LL for approval.
He made me go back and RE read every word.
Valuable lesson: seemingly small things can be important.
1
0
5
A lot more landlords are pushing us to do “the greater of x% or CPI” for annual rent escalations on proposals.
Any other markets seeing this?
2
0
5
@NNN_Industrial
Not very often. But there are a few.
Yes, it absolutely impacts the likelihood. I always send off market opportunities to groups that offer this. Why wouldn’t you?
Same for groups that offer to pay brokers acquisition fees.
1
0
5