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The Tough Road of SoCal Industrial Development

NEWPORT BEACH, CA—The scarcity of suitable development parcels and the ever-growing challenges of gaining entitlements have contributed to rapidly rising lease rates and a host of other difficulties for developers, Dermody’s Nancy Shultz tells GlobeSt.com EXCLUSIVELY.

Nancy Shultz Shultz: “Another tactic to obtain development land is to purchase land currently encumbered by a lease, wait for the lease to expire and then redevelop.”

NEWPORT BEACH, CA—The scarcity of suitable development parcels and the ever-growing challenges of gaining entitlements have contributed to rapidly rising lease rates and a host of other difficulties for industrial-distribution developers, Dermody Properties’ SVP Nancy Shultz tells GlobeSt.com. Shultz recently joined the firm’s newly established Southern California office here and is responsible for growing and managing its portfolio of industrial property in Southern California. Her efforts will include sourcing acquisitions with a value-add profile and the development of high-quality distribution product. We spoke exclusively with Shultz about the challenges of developing these properties in this market.

GlobeSt.com: What are you hoping to accomplish in your new role with Dermody Properties?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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