{"id":1004234202,"date":"2018-06-11T06:30:52","date_gmt":"2018-06-11T14:30:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234202"},"modified":"2022-12-08T19:38:46","modified_gmt":"2022-12-09T03:38:46","slug":"i-con-2018-special-report-experts-unveil-industrials-big-disruptors","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/i-con-2018-special-report-experts-unveil-industrials-big-disruptors\/","title":{"rendered":"I.CON 2018 Special Report: Experts Unveil Industrial\u2019s Big Disruptors"},"content":{"rendered":"<p>by Veronica Grecu<\/p>\n<div id=\"attachment_1004234204\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004234204\" data-attachment-id=\"1004234204\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/i-con-2018-special-report-experts-unveil-industrials-big-disruptors\/keynote-big-disruptors\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg\" data-orig-size=\"1146,768\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Veronica Grecu&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1528679499&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Keynote &#8211; Big Disruptors\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg?w=1024\" class=\"wp-image-1004234204 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg\" alt=\"\" width=\"300\" height=\"201\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg 1146w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg?resize=300,201 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg?resize=768,515 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg?resize=1024,686 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004234204\" class=\"wp-caption-text\">Mark Eppli, Ph. D., professor of Finance &amp; Bell Chair, Real Estate, at Marquette University (left) and Gary Anderson, Prologis\u2019 CEO for Europe and Asia<\/p><\/div>\n<p>The state of global industrial development and the potential economic, political and technological disruptors that investors and developers should be on the lookout for on a global scale were the highlights addressed during the I.CON 2018 keynote last week in Jersey City, N.J. The two-day industrial conference, organized by NAIOP, gathered a crowd of more than 800.<\/p>\n<p>Two high-profile industry experts\u2014Mark Eppli, Ph.D., professor of Finance &amp; Bell Chair in Real Estate at Marquette University, and Gary Anderson, Prologis\u2019 CEO for Europe and Asia\u2014discussed industrial real estate&#8217;s largest disruptors, along with the opportunities they bring to the game.<\/p>\n<h2>Infill locations: growing power<\/h2>\n<p>The industrial sector is expanding at an unprecedented pace and is already impacting supply chains to such an extent that, rather sooner than later, retail will become part of the industrial market. Geography matters now more than it ever did: Giant warehouses built two or three truck-drive days away from densely populated areas are no longer the norm.<\/p>\n<p>Consumers expect their order to be delivered within 24 hours, so there has been a shift toward investing in infill locations where last-mile delivery centers are the last piece in the supply chain puzzle. In Anderson\u2019s opinion, <em>\u201cIf you can own a building that\u2019s close-in and use it for last touch, that market isn\u2019t going anywhere.\u201d<\/em>&nbsp;As a direct result, rents in infill spaces will continue to increase\u2014even double\u2014thanks to dramatically reduced transportation costs and much lower investment risks.<\/p>\n<h2>Competition and enhanced customer experience<\/h2>\n<p>Prologis is one of the largest commercial real estate companies globally, yet local markets where its competitors have deep relationships are now a key battlefield. The \u201clocation, location, location\u201d mantra is now obsolete and the focus should move to being customer-centric. In order to become more competitive, commercial investors need to identify their customers\u2019 needs and problems and create business opportunities through smart solutions.<\/p>\n<p><em>\u201cIt\u2019s better to build on a customer experience that is unique to that customer and if you\u2019re not thinking of the customer\u2019s pain points, you should,\u201d<\/em>&nbsp;said Anderson. He added that pushing for great customer service is a partnership, not a transaction.<\/p>\n<h2>The rise of driverless vehicles<\/h2>\n<p>The impact of technology on the industrial sector is stronger than ever, and the next big disruptor around the corner is autonomous vehicles. <em>\u201cEvery automobile company on the planet is investing millions of dollars into this technology \u2026 And it\u2019s not going to be the technology that\u2019s going to slow us down; it\u2019s going to be legislation and regulation,\u201d<\/em> Anderson said.<\/p>\n<p>While using autonomous vehicles in last-mile delivery facilities will drastically reduce transportation and labor costs and enhance customer satisfaction, Anderson sees some implications in terms of how far a driverless truck is allowed to travel within a 24-hour period as opposed to a human truck driver. In the future, this could impact the geographic location of regional distribution centers, in the sense that they will have a much broader reach than they do now. And with the marginal cost of transportation\u2014now estimated at around 50 percent in the supply chain\u2014out of the way, the sky could be the limit for rent growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sector is expanding at an unprecedented pace, deeply impacting supply chains and changing the investment landscape. What&#8217;s next for real estate&#8217;s most sought-after asset class?<\/p>\n","protected":false},"author":258,"featured_media":1004234204,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,23891,21742],"tags":[32878,32956],"class_list":["post-1004234202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-national","category-latest","tag-naiop","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>I.CON 2018 Special Report: Experts Unveil Industrial\u2019s Big Disruptors - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/i-con-2018-special-report-experts-unveil-industrials-big-disruptors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"I.CON 2018 Special Report: Experts Unveil Industrial\u2019s Big Disruptors\" \/>\n<meta property=\"og:description\" content=\"The sector is expanding at an unprecedented pace, deeply impacting supply chains and changing the investment landscape. 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With more than 10 years of experience in the real estate industry, she covers a variety of topics in residential and commercial real estate, including trends and industry news. Previously, she was involved in producing content for Multi-Housing News, Commercial Property Executive and Yardi Matrix. Veronica\u2019s academic background includes a B.A. in Applied Modern Languages and an M.A. in Advertising and PR.","sameAs":["https:\/\/x.com\/@VeraGrecu"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/veronica\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Keynote-Big-Disruptors.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/258"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004234202"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234202\/revisions"}],"predecessor-version":[{"id":1004234482,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004234202\/revisions\/1004234482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004234204"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004234202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004234202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004234202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}