In episode 1 of Development Ready’s new podcast, we sit down with leading industrial agents Guy Naselli and Jake George of CBRE Melbourne.
Commencing his career in the early 2000’s as an engineer in the construction industry, Guy leveraged his extensive people skills and thorough knowledge of the Melbourne market and began working in the residential sector of the real estate industry. After cutting his teeth in the residential market, Guy quickly transitioned into the commercial sector with a boutique agency before moving to CBRE in 2015 and working within the City fringe industrial markets.
Jake George is a former radio host whom made the move into real estate following the encouragement and advice of family friends. Jake boasts extensive experience in the residential sector but now finds himself entranced in the industrial space where he’s never looked back.
In this episode, we covered:
- Their career trajectory and what led them into the real estate industry
- The fundamentals for evaluating industrial development sites
- How residential developers are successfully making the transition into the industrial market
- How industry sites are being re-zoned within city-fringe areas
- The future of the industrial sector
Enjoy this episode and stay tuned for next week’s episode where we catch up with leading Sydney agent, Neil Cooke of Savills Australia.
Show notes
01:12 - Introduction
01:45 - Who they are and what they do
02:51 - How and why they got started in the industrial property sector
04:54 - How CBRE is able to thrive
07:24 - How different is CBRE from a boutique commercial agency?
08:15 - Communication & collaboration within CBRE
09:19 - Is this collaboration unique to CBRE?
10:35 - Why people are transitioning to industrial development
11:45 - Industrial due diligence
14:04 - The difference between residential and industrial development in terms of exit strategy
16:54 - Changes in the industrial sector over the past 12-24 months
18:11 - The rings of Melbourne
20:48 - Rezoning potential
25:35 - How industrial assets function as leased assets
27:51 - How to advise residential developers looking to add industrial investments
29:37 - How much of what they do is advising and how that differs with who they’re dealing with
32:40 - Where the industrial sector is going in 2018
33:55 - Are traditional industrial assets undervalued?
34:54 - What skills/character a successful industrial sector candidate should have
36:23 - Best advice in life & business
