The Industrialist
The Industrialist
Jeremy Mercer
Dive into the world of entrepreneurship, investing, and the inner workings of business through the eyes of an industry insider. Join Jeremy Mercer every week as he delivers compelling discussions on economic trends and critical news. Experience the thrill of the trade with seasoned brokers sharing their wildest cold-calling tales and innovative deal-making tactics. Plus, gain unique monthly insights into retail trends, from sweeping national movements to nuanced local developments. With two episodes each week, The Industrialist is your go-to source for inside perspectives.
Dave Cheatham on Retail Real Estate, Leadership, and the New NIL Era
In this episode of The Industrialist, Jeremy Mercer sits down with retail real estate veteran Dave Cheatham to discuss the changing business landscape surrounding college athletics, NIL, and the broader evolution of real estate strategy.With more than 30 years of experience and over $3 billion in retail transactions, Dave has advised some of the nation’s largest brands including JCPenney, Hobby Lobby, Aldi, Gap, Darden, CVS Pharmacy, and Signet. Throughout his career — including leadership roles at CB Richard Ellis, Staubach Retail, and X Team Retail Advisors — he has become known for helping shape corporate real estate strategies, executing large-scale retail rollouts, and mentoring the next generation of industry leaders.Jeremy and Dave dive into how NIL is reshaping college sports, how universities and brands are adapting, and why understanding market dynamics matters more than ever. The conversation also explores the parallels between sports and real estate - from stadium developments and student housing demand to long-term investment strategy and navigating changing economic cycles.This episode is a practical discussion on leadership, adaptability, relationship-driven business, and what it takes to stay ahead in industries that are constantly evolving.
May 21
1 hr 25 min
From Deloitte to IOS: Chris Wong’s Path Into Industrial Real Estate
In this episode of The Industrialist, Jeremy Mercer sits down with Chris Wong to talk about his unconventional path from tax and M&A work at Deloitte into the world of real estate investment.Chris shares how his background in accounting and corporate tax gave him a unique lens on transactions, development, and investment strategy. The conversation covers his time at Hillwood, helping build out real estate operations at Austin Industries, and how those experiences shaped the way he approaches deals today.They also get into the growth of industrial real estate in Dallas-Fort Worth, the influx of institutional capital into the market, and why understanding operations and market fundamentals matters more than ever. Chris breaks down lessons learned from both successful deals and difficult ones, emphasizing the importance of due diligence, adaptability, and long-term thinking.This is a practical conversation about career pivots, real estate fundamentals, and what it takes to navigate an increasingly competitive market.And for anyone looking to break into the business, Chris’s story is proof that there’s no single path into real estate.
May 7
1 hr 16 min
The Truth About Small Bay Industrial Investing with Cody Payne and Michael Tran of Flex Parks USA
In this episode, Jeremy and Will sit down with Michael Tran and Cody Payne to break down what they're seeing in the small bay industrial market.They cover how to analyze sites, what actually matters in development, and where they see people get leasing and management wrong. The conversation gets into real operating challenges, from rent collection to tenant relationships, and why execution on the ground is what separates good deals from bad ones.They also talk through current market trends across Texas, where the opportunities are, and why small bay continues to attract serious investor attention. If you’re looking at this asset class, or already in it, this is a practical discussion on what works, what doesn’t, and where things are headed.https://flexbusinessparks.com/
Apr 30
1 hr 8 min
BIG Announcement from Matador
Jeremy announces some big news about Matador business and then the rest of the episode is a mix of real-time market talk, deals in motion, and what we’re seeing on the ground right now.They also get into:Why responsiveness is more important than ever in today’s marketHow small delays can completely change the outcome of a dealWhat Matador seeing on active transactions right nowA property management lesson on older industrial buildings and why you need to physically check on your assets, especially during weather eventsSome Dallas development news and a few stories from deals we’ve been around
Apr 22
23 min
The Advantage You Can’t Fake: Romy Cheema on Local Presence in Real Estate
In this episode, Jeremy sits down with Romy Cheema to talk about what actually drives success in real estate, and what most people get wrong.They get into the importance of being in your market, not just analyzing it from a distance. Romy breaks down how proximity leads to better relationships, better information, and ultimately better deals.They also cover common mistakes investors make, missing local demand signals, overlooking tenant quality, and relying too heavily on data without real-world context.One of the bigger themes in this conversation is storytelling. Not in a marketing sense, but in how you build trust. Romy shares how his background and experience have shaped the way he connects with clients and builds credibility in the market.This is a straightforward conversation about fundamentals—what works, what doesn’t, and what actually compounds over time.Topics covered:Why being physically present in your market mattersThe most common mistakes investors make early onHow to think about tenant quality and long-term valueWhy relationships still drive this businessThe role of storytelling in building trust
Apr 16
1 hr 5 min
We still buy buildings, we will always buy buildings!
This week’s Shop Talk is a real-time look at what’s actually happening in the market, from acquisitions to macro trends to where things may be headed next.Jeremy and Will break down where they’re actively buying today, with a heavy focus on small bay industrial in North DFW, Austin, and San Antonio. They walk through their current buy box, what they’re avoiding, and why older, overlooked assets can still outperform when bought right.A big part of the conversation centers around replacement cost—and whether it even matters in infill markets where you can’t realistically build new supply. As rents continue to rise, values are pushing past traditional replacement metrics, creating tension with equity and forcing a rethink of how deals are underwritten.They also touch on:Where supply could create pressure (and where it won’t)Why zoning and infill constraints matter more than theoretical replacement costThe ongoing debate around IOS pricing and land valueOffice market uncertainty, AI-driven layoffs, and what that means for demandWhy fundamentals—and showing up consistently—still winThis is a candid, unfiltered discussion on what operators are seeing on the ground right now.
Apr 15
40 min
Cold Calls, Hard Deals, and Building Trust in CRE with Christian Moore
In this episode of Confessions of a Street Broker, Jeremy Mercer sits down with Christian Moore to break down the evolution of the Dallas commercial real estate market and what it actually takes to build a career in brokerage.The conversation covers market dynamics, deal-making strategies, and how COVID reshaped both industrial and office sectors. Christian shares real-world lessons from transactions, how to navigate challenging deals, and why fundamentals still matter in a competitive market.Christian joined Mercer Company in 2020 and has built a reputation around his deep, street-level knowledge of the Plano and Richardson submarkets. He spends a significant amount of time in his market—studying it, driving it, and staying close to real-time activity. That focus, combined with his ability to uncover off-market opportunities, has allowed him to consistently deliver strong outcomes for his clients.Known for his disciplined and detail-oriented approach, Christian brings a practical perspective to brokerage—covering everything from cold calling and client relationships to navigating zoning challenges and complex negotiations.If you’re in commercial real estate—or looking to get into it—this is a straightforward look at what actually works.Chapters00:00 Introduction to the Journey02:49 Early Life and Education06:01 Transition to Medical Field08:56 Shift to Real Estate11:46 Navigating the Real Estate Market14:40 Challenges in Commercial Real Estate17:51 Understanding Tenant and Landlord Dynamics20:44 The Impact of COVID-19 on Real Estate24:01 Current Market Trends and Insights38:59 Navigating Cold Calls and Market Dynamics44:13 Memorable Transactions and Unique Properties51:24 Challenges with City Regulations and Zoning52:22 Lessons from Being Fired and Confrontation in Business01:01:01 The Psychology of Clients and Their Expectations01:05:10 Personal Growth: From Track to Marathon Running01:10:18 The Risks and Rewards of Jiu-Jitsu
Apr 9
1 hr 17 min
Shop Talk: We are back!
Did you miss us? Jeremy and Will are back with a quick breakdown of what’s happening in the market right now and what it actually means.In this episode, they cover the recent upswing in the Dow, oil prices pushing toward $115 per barrel, and the broader ripple effects hitting everything from transportation costs to everyday expenses. If you’re feeling it at the pump, you’re not alone.They also touch on the national debt crossing $39 trillion and why that matters more than most people think (especially for investors, operators, and anyone paying attention to where the economy is headed). Listen to the full episode for the full breakdown.
Apr 7
39 min
How to Build a Real Estate Career: 5 Lessons from a 20-Year Broker (Matt Smith)
In this episode of Confessions of a Street Broker, Jeremy sits down with Matt Smith to break down what it actually takes to build a lasting career in real estate.With over 20 years of experience, Matt shares the core lessons that separate brokers who last from those who fade out—trust, specialization, resilience, and the power of long-term relationships.They dive into early career challenges, being underestimated, and how those moments ultimately shape how you operate in the business today.If you’re in brokerage—or building any service-based career—this episode is a reminder that the fundamentals still win.
Mar 26
1 hr 18 min
From NFL to Entrepreneur: A Journey of Resilience and Success with Kavon Frazier
What does it really take to transition from professional sports to building successful businesses?In this episode, Jeremy Mercer sits down with former NFL safety Kavon Frazier to unpack the real story behind the highlight reel — the adversity, the mindset shifts, and the discipline required to build a second career after football.Hailing from Grand Rapids, Michigan, Kavon’s journey started with just one Division I offer from Central Michigan University — and he took it. What followed wasn’t a straight path. After early success as a freshman, he faced conflict with his coaching staff and was benched midway through his sophomore year. Instead of transferring or quitting, he stayed committed.That decision changed everything.Kavon fought his way back, finished strong his senior year, and launched himself into the NFL — ultimately playing for the Dallas Cowboys, one of the most recognized brands in sports. He shares what it’s like to compete at the highest level, handle pressure inside a global franchise, and leverage that experience into life after football.Now an entrepreneur, Kavon reflects on:Navigating adversity without losing directionWhy loyalty and resilience matter more than instant gratificationThe pressure of performing under the Cowboys brandBuilding businesses with the same discipline required in the NFLThis conversation is about more than football — it’s about identity, reinvention, and staying committed when the path gets hard.If you’re building something — a business, a career, or a second act — this episode is for you.
Feb 19
1 hr 8 min
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