Industrial Income

Book Description


Industrial Income explores Smith’s insider perspective on the most effective strategies and covers every aspect of industrial real estate. Discover how to leverage market intelligence for strategic positioning and decision-making. Learn the secrets of attracting and retaining high-quality tenants, negotiating advantageous lease terms and rent escalations, and navigating renewals, expansions, and lease terminations. Master balancing tenant improvements and concessions with financial objectives and implementing property management and maintenance strategies that maximize asset value.

This is your essential guide to realizing the full potential of your commercial real estate portfolio. Transform your approach to industrial leasing and elevate your portfolio with Industrial Income.


About the Author

Justin Smith is a sixteen-year veteran in commercial real estate brokerage with Lee & Associates. He holds an MBA, as well as a master’s of Real Estate Development from USC, and is a member of the global Society of Industrial and Office Realtors (SIOR), an association of top producers within the industry. 

He has completed over 500 assignments across the US and has negotiated leases with some of the largest, most sophisticated landlords in the world, including Prologis, Blackstone, GLP, Rexford Industrial, and Brookfield. He has represented executives in e-commerce, logistics, food and beverage, cold storage, automotive, aerospace, life sciences, and many other industries. 



Industrial Income presents an insightful exploration of the modern industrial real estate landscape, featuring interviews with industry leaders from diverse sectors. This book offers invaluable perspectives on the significance of ports, intermodal infrastructure, and integrated real estate operations.” – Jim Clewlow, CIO, Centerpoint Properties

“Justin Smith presents an innovative exploration of the modern logistics landscape, featuring insights from a diverse group of industry leaders. In Industrial Income, he has assembled a meaningful guide for professionals seeking to navigate the ever-evolving industrial arena.” – Devin Barnwell, Managing Partner and Global Head of Portfolio Management, Brookfield

“I’ve witnessed firsthand the importance of deep thinking about real estate strategy. Justin Smith shares his expertise in investment analysis, market underwriting, and portfolio management in this industry guide. A must-read for professionals seeking practical knowledge to thrive in the industrial real estate.” – Graham Wahlberg, VP of Investment Management, Goodman

“Justin Smith provides practical strategies and expert guidance to maximize returns in industrial real estate. Discover the key factors influencing construction costs, leasing, and yield to gain a competitive edge in the market. I highly recommend Industrial Income.” – Carlos Serra, EVP, Rexford Industrial

“Drawing from my experiences managing a portfolio of industrial property, I can attest to the importance of staying ahead of the leasing curve and utilizing market intelligence to drive success. Reading Industrial Income is an opportunity to elevate your asset management and leasing strategies to help your portfolio achieve long-term growth.” – Emma Miller, VP Leasing, Link Logistics

Industrial Income is a treasure trove of strategies that will empower you to streamline operations, align with the right landlords, and accelerate your property’s income and value. As a top producer, I can vouch for making every effort to make an asset manager’s job easier and providing value every step of the way.” – Craig Viergever, EVP, Lee & Associates Atlanta

“My extensive industry experience underscores the value of long-term relationships and informed investment decisions. Justin Smith takes those principles and expands upon them to show you how to maximize returns and navigate the complexities of the market. Whether you’re an institutional investor or a private client, Industrial Income offers practical strategies relevant to your real estate ventures.” – Bob Theirgartner, CIO, Birtcher Anderson & Davis

Justin Smith’s Industrial Intelligence is a goldmine for industrial real estate professionals wanting a look inside the playbook of industrial ownership. Justin clearly outlines the many challenges and opportunities different types of industrial owners face and how they navigate them. Having been on both the ownership and brokerage sides of the industrial real estate arena, it’s evident the value Justin’s blueprint provides in allowing us all to think “like an owner”. Matthew Reynolds, Lee & Associates Atlanta



“As an industry expert with a profound understanding of the Western United States’s industrial market, I am thrilled to recommend Industrial Income. I have witnessed the transformative impact of strategic insights and practical guidance. In this book, Justin Smith offers a wealth of knowledge to empower investors, developers, and industry professionals to navigate the ever-evolving marketplace.” Nicole Welch, Managing Director, Clarion Partners

Industrial Income is a must-read for every savvy real estate investor. Credit review is the cornerstone of risk assessment. I enjoyed collaborating with Justin to illustrate how AI and machine learning can bring clarity to credit teams by analyzing bank balances and creating comprehensive credit profiles. This book will help investors understand how to price risk appropriately in their lease contracts.” – Josh Feinberg, CEO, Otso

Industrial Income provides an exclusive glimpse into the world of signing new lease deals, working through lease renewals, and optimizing rental rates. Discover the powerful strategies that have propelled Rexford Industrial to unparalleled success in the fiercely competitive industrial real estate market.” – Matt Ehrlich, SVP, Rexford

With a focus on practical tactics and real-world examples, Industrial Income is a must-read for investors looking to maximize their portfolio growth. Not only will you gain perspective into the strategies and tactics that industry experts rely on, you’ll gain an A to Z leasing process for your team.” – Hayes Graham, VP of Acquisitions & Asset Management, Terreno Realty

Industrial Income equips you with the knowledge to navigate lease renewals, protect your investments, and maximize profitability. From verifying letters of credit to addressing environmental concerns, Justin provides essential guidance to mitigate risks and ensure smooth operations. I understand the power of building strong relationships with tenants and making informed decisions. This book is a must-read for property owners, managers, and investors.”  Bob Andrews, SVP Regional Manager, CenterPoint Properties

“Whether you’re a seasoned developer or an upcoming investor, Industrial Income is your ultimate guide to unlocking the untapped potential of the industrial property. In its pages, you’ll find valuable insights and strategies to enhance your capital project timelines, manage costs effectively, and optimize leasing strategies.” – Jim Camp, Senior Managing Director, Rockefeller Group

“In Industrial Income, you’ll discover the roadmap for thriving in the commercial real estate leasing world. As someone who has spent years in this field, I appreciate his focus on fair dealings, client-centric approaches, and effective problem-solving.” – Jack Cline, President, Lee & Associates Los Angeles

“With practical advice on how to adjust leasing strategies based on market cycles and attention to brokerage relationships, Industrial Income provides the tools you need to lease up your property successfully. Justin shares proven strategies that will transform the way you manage construction costs, optimize rental rates, and achieve maximum value.”  John Quinn, Senior Regional Director, First Industrial Realty Trust

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Avaialble on Amazon