LOS ANGELES—There is still runway left in this cycle—for thosewilling to work for it, according to Don Ankeny,the president and CEO of Westcore Properties.Ankeny is speaking on the Investment Leaders: TheBig 5 & Beyond panel at the upcoming RealShare Industrial Westconference on January 19 and 20. There are still plenty ofindustrial opportunities in the market, but Ankenystresses that success won't come as easily as it had in the past.Before Ankeny steps up to the panel stage, we sat down with him forsome pre-conference insight on the market and his concerns andforecast for 2016. Here is what he tells us:

GlobeSt.com: What is your outlook for the yearahead?

Don Ankeny: I think there is stillroom to run. You have to be selective and disciplined in whatyou're buying. We are looking at some markets that might beconsidered a little less gateway or core. I don't think the class-Acap rates are going up; I think there is a better chance of theclass-B spreads coming down, so we see some opportunity there. Wethink it is going to be an environment where it is more importantto really work the business plan for whatever it is that you aregoing to do—develop, renovate, lease-up—because the market is notgoing to deliver success the way it has over the last couple ofyears. You are going to have to earn it.