What does it take to manage over 130 million square feet of industrial space for Blackstone—and what does the future of industrial development look like in Southern California and the Inland Empire?
In this episode of Adding Value, Shy Assar sits down with Bud Pharris, former Senior Managing Director of the West Region at Link Logistics and newly appointed Chief Executive Officer of Pacific Industrial.
Drawing on over 30 years of industrial real estate experience across Panattoni, DCT Industrial, CRG, and Link Logistics, Bud breaks down the institutional playbook: how Blackstone and Link analyze granular portfolio data, how landlords navigate market shifts and lease concessions, and why Pacific Industrial is doubling down on complex infill development, value-add acquisitions, and high-power autonomous/EV fleet charging infrastructure.
We also dive into the operational reality of the Inland Empire and greater Southern California markets—from tenant rightsizing and sublease inventory to power constraints, IOS (Industrial Outdoor Storage), and timeless career wisdom for brokers and developers.
TIMESTAMPS:
0:00 - Teaser: Complex Infill, Concessions & Data Centers
1:03 - Introduction: The 130M SF Scale of Bud Pharris
2:12 - Stepping in as CEO of Pacific Industrial
6:06 - Partnering with Dan Floriani & Neil Mishurda
9:32 - Acquisition Strategy: Infill Development vs. Secondary Markets
11:06 - Inside the Blackstone Machine: Managing 130M+ SF at Link Logistics
14:10 - How Institutional Landlords Stratify Data & Forecast Rents
16:20 - Navigating Downcycles: 2022 Market Peak vs. Global Financial Crisis
17:48 - Levers for Leasing: Concessions, Free Rent, Bumps & Getting Signatures
19:53 - Emerging Sectors: Data Centers & Power Constraints in SoCal
23:30 - Pacific Industrial’s 3 Pillars & The Autonomous Vehicle (AV) Strategy
25:45 - Industrial Outdoor Storage (IOS) & The Race for Powered Land
28:02 - Partnering with Shy Assar / Voit Real Estate Services
29:25 - Key Metrics to Watch: Tenant Rightsizing, Sublease Space & Submarkets
31:22 - What Institutional Landlords Actually Want from Industrial Brokers
33:23 - 30 Years of Leadership: Integrity, Empathy & Resilience
39:15 - Quotes That Shape a Career: Lessons from Roger Rhodess
43:24 - Finding the Love for the Process: Advice for the Next Generation
46:24 - Outside of CRE: Longevity, Fitness & Mountain Biking
47:28 - Giving Back: Childhelp & Mentoring Youth via Project Destined
CONNECT WITH BUD PHARRIS & PACIFIC INDUSTRIAL:
Website: https://www.pac-industrial.com/
LinkedIn: https://www.linkedin.com/in/bud-pharris-5b682312/
Childhelp: https://www.childhelp.org/
#IndustrialRealEstate #InlandEmpire #CommercialRealEstate #LinkLogistics #Blackstone #PacificIndustrial #CRE #Warehousing #SupplyChain #Logistics #SoCalRealEstate #AddingValuePodcast