LOS ANGELES—Industrial investors at yesterday’s RealShare Industrial West conference in Long Beach were cautiously optimistic about the year ahead. “We are cautious about a possible recession. We think the fundamentals are good, but we aren’t going to keep our head in the sand,” Don Ankeny, president and CEO of Westcore Properties, said on the Investment Leaders panel.

The Investment Leaders panel included moderator David Stone, partner at Allen Matkins, and speaker Michael Boss, director of global real estate at TIAA-CREF, and Alan Carmichael, VP of investments at Alere Property Group. The remainder of the panel agreed that the cycle is mature, and while there is still opportunity, they are cautious. “No one is immune to downturns. We are affected by the global economy,” Boss added to the discussion.

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