Design Development

96: Navigating Boston's Tight Industrial Real Estate Market with Tony Coskren, Newmark

• Rens Hayes • Episode 96

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Tony Coskren is the Executive Managing Director at Newmark, with a 17-year career in commercial real estate specializing in industrial and logistics markets. Tony has extensive experience working with billion-dollar institutions, top-tier companies like Amazon, FedEx, and Walmart, and local tenants. As a former Division-1 athlete and hockey player, Tony's competitive spirit drives his expert navigation and success in the high-stakes world of industrial real estate.

Episode Summary:

Welcome to another inspiring installment of "Design Development" hosted by Rens Hayes. Today, we dive deep into the industrial real estate market with Tony Coskren, the Executive Managing Director at Newmark. Tony's exceptional career spans 17 years in commercial real estate, focusing on industrial and logistics sectors. Tony navigates us through his robust journey from initial sales roles to landing significant deals with giants like Amazon and FedEx.

Tony shares critical insights on the complexities of the Boston industrial real estate market, including the challenges of land scarcity and entitling projects, explained through noteworthy deals like the redevelopment of an old Lucent Technologies site and transforming the AstraZeneca campus for Amazon Robotics. We also get a glimpse into Tony's personal life, learning how his competitive edge was honed through collegiate and family hockey experiences.

Key Takeaways:

  • The Complex World of Industrial Real Estate: Tony discusses the intricacies of brokering deals for clients like Amazon and FedEx, highlighting the challenges in a congested market like Boston.
  • Entitlement and Redevelopment: The importance of identifying underutilized sites, entitling them, and successfully redeveloping them for high-value use, impacting community and logistics.
  • Skills from Sales to Real Estate: Tony's transition from tech sales at EMC to real estate, demonstrating the pivotal role of cold-calling, persistence, and strategic networking in building his career.
  • Personal Background: How Tony's experience as a D1 hockey player and his tight-knit, competitive family life shaped his professional approach.
  • Real Estate Dynamics and Trends: The shift in industrial real estate from underappreciated assets to critical components in supply chain optimizations given rising e-commerce demand.

Resources:

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