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Royce Rose shared an interesting perspective on how institutional investors are looking at small bay warehouses in Florda.
He’s seeing buyers underwrite roughly 4% annual rent growth, while high land and construction costs continue to make new small bay supply difficult to build.
He also broke down what really matters when evaluating buyers beyond price: capitalization, track record, financing, and certainty of close.
What about you? What are your thoughts on small bay warehouses?
Drop a comment, like, and subscribe!
* These posts and statements are my own and do not represent the positions, strategies, or opinions of CBRE, its clients, or partners.
#cre #commercialrealestate #industrialrealestate #floridarealestate #floridabroker #cretrends #LarryG #CapitalMarkets
Define public benefit 🫤
We’re committing a portion of Anthropic’s shares to the Anthropic Public Benefit Fund, a new wholly owned entity dedicated entirely to the public benefit.
It will start off with 5% of our shares. For every 50% increase in the company’s value over a set baseline, we can contribute up to an extra 2%, subject to our board’s discretion.
In total, this means that roughly 20% of Anthropic’s shares are committed to the public good. Our co-founders have already pledged to donate 80% of their equity, and around half our employees are donating a portion of their equity as part of a donation matching program we’ve run since our founding.
In the post below, we share more details about our new fund.
anthropic.com/news/public-be…
First person I subscribed to here on X.
On my way to the office this morning, I passed a group of young people protesting, a Palestinian flag draped over their shoulders.
And I asked myself a question I can't shake: why does this generation always fall into the same trap? No matter the history. No matter the context. Even the ones from wealthy families, who went to the best schools, who were dealt every good card. Always the same trap.
I don't think it's stupidity. I think it's a mechanism. And a mechanism can be taken apart, piece by piece.
A. The observation: everything the state touches becomes unaffordable.
Look at economist Mark Perry's famous chart, the one people call "the chart of the century." It tracks US prices since 2000.
At the top, what explodes: hospital services, college tuition, textbooks, childcare, housing. Increases of +100%, +150%, up to +250%, far above general inflation.
At the bottom, what collapses: TVs, software, phones, toys, clothing. A TV today costs a fraction of what it did in 2000, for an infinitely better product.
Look at what separates the two groups. It isn't technology. It isn't complexity. It's one variable: how much the state is involved.
At the top, sectors that are subsidized, regulated, shielded from competition, where the state funds demand and blocks supply. At the bottom, sectors where companies fight every single morning to serve you better and cheaper.
B. The mechanism: why it's systematic.
When the state subsidizes demand without freeing supply, prices rise. Every time. Guaranteed student loans, and universities raise tuition. Housing aid plus blocked building permits, and rents skyrocket. Administered healthcare, and bureaucracy eats the budget before it ever reaches the patient.
In France it's even more vicious, because the price doesn't disappear: it hides. You never see the hospital bill, you pay it through payroll contributions. You never see the cost of school, you pay it through taxes. Public spending at 57% of GDP, one of the heaviest tax burdens in the world, more than €3.4 trillion in debt. And the result? Overflowing ERs, falling PISA scores, young people who can't afford to live in the city where they work.
The market didn't fail in these sectors. It was never allowed in.
C. Suffering demands a culprit.
A 22-year-old lives all of this in their bones. They can't find a place to live. Their degree either buries them in debt or opens no doors. The future feels blocked. That suffering is real, and I don't deny it for a second.
But human beings can't stand suffering without a culprit. They need a face. A scapegoat.
And this is where everything is decided: who taught them how to read the world?
D. Whoever tells the story picks the villain.
Schools are public. Universities are public. Culture runs on grants. Film goes through funding committees. Public broadcasting shapes the narratives. The people handing down the interpretive framework are, overwhelmingly, paid by the very system that creates the problem.
Do you really think that system is going to name itself as the culprit?
No. It names the capitalist. The boss. The landlord. "The rich." The multinational. The commercial West. Same role, same casting, every time.
E. One lens, a thousand causes.
And this brings me back to that flag. A generation taught to read every situation through a single lens, oppressor on one side, rich, Western, capitalist, oppressed on the other, will apply that lens everywhere. To housing. To climate. To conflicts on the other side of the world. The cause changes, the lens stays. That's why the trap is always the same: it's not the cause that draws them in, it's the way of thinking that was installed in them.
F. The perfect inversion.
Here's the irony. Capitalism is the force that drove down the price of almost everything it touched. The state is the force that blew up the price of almost everything it captured. And young people blame the first for the crimes of the second.
It's like blaming the firefighter for the fire because you saw him at the scene.
G. The ballot box confirms it.
In the US, a few weeks out from the midterms, a large share of urban young voters is getting ready to vote Democrat for more state, more spending, more regulation. New York elected a self-described socialist mayor, carried by young voters, on promises of rent freezes and city-run grocery stores. Rent freezes, the policy that has made housing scarcer everywhere it's been tried. The cure that worsens the disease.
In France, it's the same play in two acts. Part of the youth votes for the radical left, which promises more state. Another part votes for the center, which promises to "manage" the state well, and has dug the debt deeper than ever. Two different ballots, one shared assumption: the problem is the market, the solution is the state.
H. The way out.
These young people aren't stupid. They're right to be angry. They're just aiming at the wrong target.
The day they understand that their rent, their tuition and their hospital are expensive precisely because the state runs them, their anger will change direction. They'll stop protesting against those who create. They'll start protesting against those who capture.
That day, the greatest intellectual scam of our time will be over.
LarryGenet retweeted
🧵
I just witnessed ~45 minutes of footage of the October 7th terrorist attack at the @AtlanticCouncil courtesy of @IsraelinUSA along with colleagues from think tanks across the ideological spectrum. What I saw was worse than I’ve ever seen.
Pure evil.
***Trigger Warning***
LarryGenet retweeted
A Letter to the World’s Leftists and to Righteous People : 7th of October. There are days history writes in ink, days it writes in tears, and days so terrible that history writes their names in blood. October 7 was such a day. The morning came quietly. Some were sleeping. Some were praying. Mothers were beside their children. Then Hamas terrorists, the Palestinian Muslim Brotherhood, entered homes in Israel. Blood. Fire. Screams. Women were raped. Children were burned. Families were executed. Babies were kidnapped. Jews were hunted and murdered.
Homes that once held prayers, laughter and children's footsteps became places of death. Beds became graves. A mother's arms became empty. A child's room waited for a child who would not return.
There are no words large enough for such grief. Only the silence afterward. The silence of a mother waiting for her child. The silence left when evil has finished screaming.
Once again, Jews were murdered for being Jews. An ancient nightmare suddenly had a date in the present tense. The old hatred had found new mouths and new excuses.
From my country, the United Arab Emirates, a Muslim Arab country, came a voice within minutes calling it by its name: A terrorist attack. No excuse. No ideology can make rape resistance. No slogan can make burning a child justice. No flag can make kidnapping a baby freedom.
And yet, London. Paris. Toronto. You would have expected tears. Instead, people celebrated while Jewish families searched for the missing and children remained with kidnappers. People waved the flag of the kidnappers of babies instead of demanding freedom for the babies.
This was another wound of October 7. Innocent people were murdered, while others had forgotten how to mourn them. It felt as though civilisation had turned backwards. Back toward 1936. Back toward the old darkness. That was where morals failed.
I have travelled to universities around the world and stood beside Jewish communities attacked simply for being Jewish, to tell them: You have a friend here.
When the Holocaust happened, I was not there. I cannot go backwards and stop the trains or take one terrified child by the hand. But I was alive on October 7. And I had a choice.
One day my children may ask: Where did you stand? I want to tell them: I stood with the baby, not his kidnapper. I stood with the mother, not her rapist. I stood with the murdered, not the murderer. I stood with the Jew hunted simply for being a Jew.
When people found sophisticated words to excuse barbarism, I chose humanity's simplest word: No. No to rape. No to kidnapping. No to burning children. No to terrorism. No to antisemitism.
Hamas, the Palestinian Muslim Brotherhood, may have lost in Gaza, but an ideology does not die because it loses a battlefield. Look at the streets of the West, universities, some parliaments and city councils. Too many young minds have become hostages to propaganda for Hamas, Hezbollah and Iran's proxies in the West.
When you become silent about an October 7, you do not guarantee that October 7 will remain in the past.
Hatred begins as a sentence before it becomes a scream. Extremism begins as an excuse before it becomes an act. Evil first asks to be tolerated, then excused, then normalised.
Remember October 7. Remember the empty beds. Remember the empty arms. Remember the kidnapped. Remember the murdered. Remember Jewish families hunted in the one place every human should believe is safe: home.
Be like my country, the UAE, where antisemitism is not an opinion to celebrate. It is a crime. Where the Muslim Brotherhood is banned, not romanticised as activists.
History will ask something simple: When a child cried, where did you stand?
On October 7, I knew my answer. With the baby, not the kidnapper. With the mother, not her rapist. With the innocent, not the terrorist.
And when my children read this chapter of history, I want them to know: Their father did not look away.
LarryGenet retweeted
I'll start from the end: I have joined @VineVenturesLP. I'm excited, a little emotional, and mostly grateful to continue living my life.
This morning @BusinessInsider published an interview with me. Thank you to @meliarobin and @JamieHeller for listening and for telling my story with sensitivity and nuance.
For many people, I'm Noa Argamani, who was rescued by the IDF after 246 days in Hamas’ captivity. That's part of me, and it always will be. But it's not all of me, and I'd like you to get to know me in my new role too.
If you're building something, have an idea you can't stop thinking about or you’re in the Valley and looking to help the most ambitious founders in Israel succeed, I hope to be a bridge between the two ecosystems.
Noa Argamani spent 246 days in Hamas captivity. Two years after her rescue, she's joining Vine Ventures to help Israeli founders turn their companies into global category leaders. bit.ly/47ooM4W
Historical perspective: escalations of 2-2.5% were the norm 8-10 years ago on big deals, so today's corporate pushback against 4% isn't unreasonable — especially from nationwide tenants who've already seen this fight play out in other markets.
🎥 Watch the full episode for the numbers behind the negotiation.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #floridabroker
LarryGenet retweeted
Imagine for 1 second that you have it wrong and Jews are telling the truth. That the genocide libel is bs. That Hamas are terrorists. That you are being manipulated to desire the removal of Jews from society.
Do you understand if we’re right, that makes you the millions of European and African and Asian friends and neighbors who wiped millions of us off 3 continents just a few decades ago?
What’s more likely - that we, the tiny minority who have been libeled and blamed and persecuted by every society in which we’ve ever lived for centuries, are the bad guys? Or that you, the non-Jewish masses who have hounded and defamed and slaughtered us all over the world over and over and over again, have once again been suckered in by propaganda you unquestioningly latch onto because it gives you a scapegoat to blame for your own problems and sins?
“History repeats itself… except this time! I’m different!” Is essentially what every Jew hater tells themselves. No. You are no different than the Iraqi or Soviet or German or Algerian who turned on their Jewish neighbors the second they got the societal green light. Never in the history of the world has the group persecuting Jews been “on the right side of history.” Not once.
Courage isn’t going with the crowd to hate on us some more. That’s easy. Courage is looking in the mirror, in a history book, at what is happening to Jews in our society, and saying stop this train, I’m getting off.
The first South Florida city to fully embrace AI-driven permitting could leapfrog everyone else — Jeff Bezos' take on 5-day permits isn't far-fetched.
🎥 Watch the full episode for this (very off-topic but very real) hot take.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #floridabroker
Corporate tenants are pushing back on 4% escalations for a reason. Lease terms are getting longer due to larger TI numbers. That 4% number compounds into a massive increase over 7-10 years.
🎥 Watch the full episode to hear where the landing spot actually is.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #floridabroker
Some of my favorite quotes.
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #floridabroker
TI allowances aren't just for permanent improvements anymore — landlords are getting creative to hit their target rental rate.
🎥 Watch the full episode for this under-the-radar shift nobody's talking about yet.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #floridabroker
This is what $40,000 per dock door looks like 😳
For a large building, you're talking about millions of dollars. 🫠
Now consider everything else that goes into state-of-the-art automated distribution facilities. You're up in the $50 million, $100 million-plus range.
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker
Lease timelines are stretching out fast — early commencement dates, TIs now taking 7-8 months instead of 4-5, and negotiations that used to take weeks are now taking months.
🎥 Watch the full episode to hear what's driving the longer runway.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker
Corporate tenants are getting smarter — they're surveying the market 2 years before their lease is even up, because everyone's caught on to how long a buildout actually takes.
🎥 Watch the full episode to hear why these delays aren't cosmetic — they're operational deal-breakers.
youtu.be/o83DxS4zbHs
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker
High-quality product is outperfoming cost effective overly value engineered new construction warehouses.
The commoditized product is sitting just as long or longer and leasing at lower rents.
36 foot clear versus 32. Double height double wide glass versus basic entry features. Spec office and demised bays on day one, versus waiting for a lease before designing anything. High quality or at least tastefully done landscaping and exterior details versus “per code”.
When the product is common, the only levers left are concessions and price.
The higher quality buildings, leasing at higher rents, tend to pull higher credit and stickier customers.
If you are building or buying the cheaper version, what is your plan when the market already has five to ten of them?
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker
For ten years my goal has been to be the youngest, dumbest, and brokest person in every room I walk into.
It worked. Here’s what it cost:
High school: ADD, dyslexia, and I didn’t apply myself. Terrible grades.
College: The only school that would take me. I didn’t know how to study or how to learn. Academic probation. 1.8 GPA. Clawed my way to a 2.8 by graduation.
At 23, my father died of cancer.
I was broke with zero skills and no plan.
My Uncle Ben paid for me to attend Strategic Coach in Chicago. Dan Sullivan broke my matrix in a single day.
Then came 20 years of 16-hour days.
Five of those years I wandered the desert — broke, sometimes working three jobs at once.
Since then, I have consistently begged, borrowed, and stolen my way into rooms where I was the least accomplished person at the table. On purpose.
Strategic Coach for 3 years, at the lowest income tier they offered. Vistage for 3 years. Charity boards for 5 years. A global private investing peer group for almost 3 years. 18Lions for almost 2 years. Community advocacy and leadership for the last 7.
It was uncomfortable. Embarrassing more times than I want to admit. The impostor syndrome is still constant.
The assholes. The kind. The dishonest. The brave. The geniuses. The funny. The generous. Every one of them taught me something I still carry.
It was the best education I’ve ever paid for.
20 years later I’m Vice Chairman at CBRE, blessed with an incredible family and friends, a career I never would’ve dreamed of, and opportunities that once seemed impossible.
If you’re the smartest person in your room, you’re in the wrong room. Go find one where you’re not.
#LarryGenet #FloridaBroker #BrokerConfessions #CRE #CREtrends
Class A landlords are holding firm on rent — and the window we called back in 2024-2025 to lock in long-term leases is closing fast.
🎥 Watch the full episode for what this means if you're negotiating a lease right now.
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker
We called the recovery last year, and the numbers are finally proving us right — Broward's seeing steady singles and doubles plus some bigger 50K+ pops starting to fall.
🎥 Watch the full episode for where things are headed next.
#cre #commercialrealestate #industrialrealestate #floridarealestate #cretrends #LarryG #CapitalMarkets #floridabroker



















