About Millie & Severson:
Operating for over 81 years, Millie & Severson is a premier, employee-owned (ESOP) general contractor in California and Nevada. Known for their "big projects, no egos" culture, they are a dominant force in industrial tilt-up construction, partnering with global giants like Amazon, Prologis, Trammell Crow, and Brookfield.
Timestamps:
0:00 - Introduction: The Industrial Tipping Point
02:15 - Entitlement Risk & AB 98: When Land Value Goes to Zero
05:40 - Sluggish 2025 vs. The 2026 Surge in Construction Starts
08:12 - Volatility in the Trades: Steel, Rebar, & Panelized Roof Pricing
11:30 - How Data Centers are Driving Up Steel Lead Times
14:50 - Geopolitics, Gas Prices, and the Macro Impact on Budgets
18:25 - The History & Unique Culture of Millie & Severson (The Power of an ESOP)
22:40 - The Real Numbers: Approximate Hard Costs per SF Today
26:15 - The Evolution of Unions in California Tilt-Up Construction
31:10 - Project Spotlight: Core5’s 1M SF Facility in Menifee
35:45 - Advice to Hungry Brokers: How to Correctly Underwrite Land Value
Follow Adding Value with Shy Assar for more conversations that shape the future of industrial and logistics real estate.
Subscribe on YouTube, Apple Podcasts, Spotify, or your favorite platform.
Follow on Instagram and TikTok @AddingValueShyAssar
Music Codes: MB01DKPGNACZVRS MB01TGKRMBHDK91
#CommercialRealEstate #IndustrialRealEstate #InlandEmpire #inustrial #warehousing #logistics
