What if some of the most useful information about your next commercial real estate deal is already available to the public?
Whether you own a warehouse, invest in commercial property, or are considering your first REIT investment, publicly traded real estate companies release information that can help you understand where the market stands. The question is knowing what to look for.
In this episode, Aviva Sonenreich and David Auerbach, Chief Investment Officer at Hoya Capital, explore what real estate investment trusts (REITs) can tell us about commercial real estate values, industrial demand, and the changing market cycle.
David explains how REITs work, why their earnings reports matter to private property owners, and what investors can learn from their acquisitions, leasing activity, and dividend performance. They also discuss the impact of data center development, the cost of relocating industrial tenants, and opportunities across real estate sectors beyond warehouses.
Key Topics Discussed
- What REITs actually are: How publicly traded REITs allow investors to own an interest in commercial real estate without buying or managing a building themselves.
- What industrial REITs reveal about warehouse demand: How the sector has evolved since the pandemic and what leasing activity and rent spreads can tell us about current conditions.
- Using REIT data to evaluate property values: Why private owners should pay attention to publicly disclosed acquisitions, sales, cap rates, and quarterly earnings.
- Public vs. private real estate investing: How liquidity, transparency, and access to information differ between publicly traded REITs and private investments.
- Why some industrial tenants are unlikely to relocate: How specialized facilities, equipment, labor, and operational downtime influence lease renewals.
- Data centers and industrial development: How power availability and supporting infrastructure can affect where new facilities are built.
- Understanding REIT dividends: How dividend income and reinvestment work, and what investors should examine beyond a company’s stock price.
- Looking beyond industrial real estate: David discusses senior housing, retail, healthcare, and manufactured housing as sectors worth understanding.
About the Guest
David Auerbach is the Chief Investment Officer at Hoya Capital, where he analyzes publicly traded real estate companies, REIT performance, and trends shaping commercial real estate capital markets. He is also the publisher of the Daily REIT Beat newsletter and shares research and educational content through REIT TV. Drawing on his expertise in public real estate markets, David helps investors understand how REITs operate, evaluate the companies behind them, and use financial disclosures and market data to make more informed investment decisions.
About the Host
Aviva Sonenreich is the Managing Broker and Owner of the Warehouse Hotline, a Denver commercial real estate brokerage specializing exclusively in industrial properties. She leads the firm’s brokerage operations, negotiates industrial sales and leasing transactions, advises clients on acquisition and disposition strategies, and oversees the company’s marketing and business development efforts. Through Commercial Real Estate Secrets, she interviews leading investors, brokers, developers, and industry experts to provide actionable insights on commercial real estate investing, brokerage, leasing, development, and market trends.
Wondering What Your Industrial Property Is Worth in Today’s Market?
Public REIT reports can provide useful market signals, but determining the value of your property requires a closer look at its location, lease terms, tenant profile, and comparable transactions.
The Warehouse Hotline provides broker opinions of value for industrial property owners, helping you understand your property’s market position and evaluate your options before deciding whether to sell.
