Worth Repeating

Winter 2022/2023 Issue

Sound bites from NAIOP’s CRE.Converge, held October 10-12 in Chicago.

“ Our industry does a lot of good by creating jobs, helping businesses grow, and being active members of local communities. We need to consistently remind various stakeholders of the value NAIOP provides. I hope I can count on you to join me in that effort.” — Kim Snyder, president, U.S. West Region, Prologis, and NAIOP’s 2023 chair

“ One of the things that Chicago and Illinois want to do is to raise Chicago’s profile as a major life sciences market. We possess all the key demand drivers for life sciences to be highly successful here, with the exception of an adequate supply of Class A lab space. We’re definitely creating our own submarket here.” — Dr. Suzet McKinney, director of life sciences, Sterling Bay


Former CNBC Chief Economist Marci Rossell makes a point during her keynote address at NAIOP’s CRE.Converge in Chicago in October.

“ In terms of pure office space... I’m guessing it will settle down to where the necessary footprint will probably be about 75% of the pre-pandemic norm.” — Marci Rossell, former CNBC chief economist

“ It’s a team mentality. It’s truly listening first to what the community wants and kind of designing the project around it.” — Matt Moroney, president and COO, Wangard Partners

“ The key for us is having visibility to data, doubling-down on supply chain visibility, and having the ability to be flexible and act.” — Jennifer McNeill, vice president, True Value Company

“ The [conversion of a former corporate campus into a logistics site] went through a lengthy public process. We had seven different public hearings, and all kinds of traffic and noise studies. Hundreds of people showed up to talk about it, because you’re replacing a longstanding corporate neighbor with tractor-trailers.” — Tim Walsh, chief investment officer, Dermody Properties

“ We’re in new territory. Over the near term, there’s going to be some deep pain in the office sector. The restaurants and bars are full, but the offices are empty.” — Craig Robinson, chief growth officer, Industrious

“ Don’t ever let anyone own your data; don’t let anyone take your data if they fold up. You need a way to be able to retrieve that information.” — Ben Grippi, head of strategic real estate technology, The RMR Group

“ The supply chain is going to change. I’m not saying everything is going to be made in North America. But [companies] are trying to reduce their exposure.” — Adam Roth, executive vice president, NAI Hiffman

“ There’s nothing as precious as the social connection of humans together in the room. It can never be replaced. We all do better wrestling with challenging issues face-to-face.” — Keith Ferrazzi, best-selling author; founder and chairman of Ferrazzi Greenlight

“ When we talk about integrated systems and all these things that are possible, the biggest problem isn’t that the technology can’t do what it’s supposed to do. The biggest problem is figuring out how to get us to change our way of thinking.” — Mike Steep, executive director, Stanford Engineering Center for Disruptive Technology and Digital Cities

“ ESG is a scary acronym, and that’s why people don’t want to give us much information. Letting them know where we’re starting and where we’re trying to get to has helped.” — Lindy Schrik, director of ESG, CenterPoint Properties

“ Whatever the Fed does … let’s get to that point sooner than later, because I think that will start to make it a little bit easier for everyone to start making rational decisions again. If this is drawn out a long time, I think it creates more risk across the macro-environment.” — Peter Schultz, executive vice president – East region, First Industrial Realty Trust, Inc.

“ Don’t think about what talent you need, but what talent you are supplying back into the community, to keep that flywheel moving. That’s the ongoing life force in the community: incremental skills, building from entry level to middle and upper level.” — Steve Johnson, chief people and compliance officer, Bluecrew