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OWNERS COUNCIL Q&A
MARK SHEARER
SENIOR MANAGING DIRECTOR, NORTH CENTRAL REGION
ROCKEFELLER GROUP
How do you feel about the
market?
Tenant activity for industrial
has increased over the past
few months and is closer to
historic norms. We are seeing
increased activity in the capital
markets.
Did you learn anything new
about your business (or the
industry) in 2024?
The biggest thing I learned is
that there is value in sticking
to the fundamentals: location,
design, quality construction
and smart underwriting.
How quickly (or slowly)
do you expect the lending
environment to improve
as expected rate cuts take
hold?
The lending environment has
already improved! The cost
of debt isn’t as high as it was
six months ago, and it should
continue to improve.
Besides the capital markets,
what is a major challenge
that the industry still faces?
Tenant demand for industrial
remains somewhat muted
along with ongoing diffi culties
in gett ing permits and
entitlements.
What can the state or federal
government do to help?
We would love for the state to
provide clear guidelines for
municipalities when it comes
to development and, again, the
entitlement process.
Where do you see
opportunity outside the
Garden State?
Industrial development
continues to be port-driven, so
any population center near a
port or along the Turnpike is
an opportunity.
How is technology helping
your business these days?
Databases linked by GIS
(geographic information
systems) have greatly helped
our business, along with web-
based cameras, and the ability
to meet virtually.
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