In this episode of PlotLines, Britni sits down with Barry Missner, CEO of The Missner Group, for a grounded conversation on the current state of industrial real estate and why broad headlines often miss what’s happening at the market level.
Founded in 1945, The Missner Group has evolved from a general contractor into a vertically integrated real estate development, investment, and management firm. Barry shares how that long-term perspective shapes the firm’s approach during a period of market recalibration.
While leasing activity has slowed in some infill markets over the past year, Barry explains that rents continue to rise, driven by higher replacement costs, land constraints, and development friction. At the same time, equity capital remains cautious and highly focused on assets that meet precise criteria.
“If you’re even one deviation off,” Barry notes, “the pricing impact is significant.”
On the debt side, however, conditions are improving. Bank financing has reopened for many developers, allowing firms like Missner to begin rebuilding development pipelines in anticipation of capital returning as projects de-risk.
One of the most consistent shifts Barry highlights is power demand. Industrial tenants today require more power than in years past, forcing developers to rethink how speculative buildings are designed, even if that power isn’t installed on day one.
The same flexibility applies to build-to-suit projects. Barry emphasizes designing buildings that serve today’s tenants without becoming obsolete tomorrow, balancing customization with long-term marketability.
Looking ahead, Barry sees opportunity in infill development and in what he describes as the “core-plus” segment with assets that sit between stabilized core and high-risk value-add. With institutional capital largely focused elsewhere, this pocket of the market may offer attractive entry points for disciplined investors.
Rewriting the Headline
When asked what headline he’d like to see, Barry offers:
“Despite strong fundamentals, capital remains resistant to industrial investing — what are they waiting for?”
For Barry, it’s a reflection of cautious optimism and confidence that fundamentals will ultimately bring capital back off the sidelines.
