Sun Belt (southern tier of US states) warehouse portfolios keep changing hands like hot potatoes. EQT Real Estate, a global real estate investment management platform, just scooped up a 2.4 million-square-foot industrial portfolio from Mapletree Investments for $241.2 million, spanning 10 warehouses across Georgia, Florida, and Texas. The deal—expected to close by late 2025—marks the second major sale from Mapletree's U.S. & E.U. Logistics Private Trust, following last month's $328 million portfolio sale to Faropoint. Eastdil Secured brokers noted the portfolio drew aggressive bidding from institutional investors, highlighting continued strong demand for quality industrial assets in high-growth Sun Belt markets. For CRE investors, it's another data point showing institutional capital keeps flowing into logistics real estate despite broader market uncertainty.

Chicago's development scene is all about conversions these days, and three major projects are making waves. Jab Real Estate wants to turn the former Blue Man Group theater into 66 apartments with ground-floor retail. Bridge Industrial—a Chicago-based logistics developer—is dropping $150 million to demolish the mostly vacant Ford City Mall (owned by distressed mall specialist Namdar Realty Group) and replace it with a massive logistics complex. And WindWave Real Estate just got permits for a $64 million conversion of a former Salesforce building into 153 River North apartments. Meanwhile, political drama is brewing at City Hall as Alderman Walter Burnett steps down from the Zoning Committee, leaving Mayor Brandon Johnson to navigate competing demands from the Black and Latino caucuses for the powerful role that controls development approvals.

President Trump wants to replace Jerome Powell with a compliant Fed chair who'll slash rates, but the math isn't adding up. Even with a Trump-appointed chair, getting the seven votes needed on the 12-member Federal Open Market Committee for aggressive cuts will be tough. Current Fed officials are cooling on September rate cuts as inflation stays stubbornly above 2%, and next year's voting committee includes hawks like Cleveland's Beth Hammack and Dallas's Lorie Logan. Plus, Powell could stick around as a governor through 2028, making life difficult for any new chair. While Trump might secure a board majority if Powell leaves, that still won't guarantee control of the Federal Open Market Committee (FOMC)—the Fed's key monetary policy-making body that sets interest rates—meaning Wall Street's bet on dramatic rate cuts could be premature.

Most investors think in binary terms.

Deal works = proceed.
Deal breaks = kill it.

But the best operators?

They think in networks.

I've got a deal under contract right now that's about to teach you why resourcefulness beats rigid thinking every single time.

Picture this: 20,000 sq ft small-bay industrial in Chicagoland.

Built 2008.

Completely vacant.

And priced at $35/sq ft when replacement cost is north of $150.

The demographics?

Solid gold:

Sure, we'd need to split utilities, cut 5 garage doors, and deal with an HOA (yes, industrial with an HOA 😂).

But at $35/sq ft?

You don't walk away.

Then our broker delivered what looked like a home run.

National tenant.

Entire 20,000 sq ft. $13/sq ft gross.

Here's how we counted our chickens:

We were already planning the victory lap.

Then the tenant vanished during lease negotiations.

Found another property.

Game over?

Here’s where most investors would throw in the towel and cancel during due diligence.

Instead of killing the deal and burning bridges, we made a different call.

I picked up the phone and called my friend and frequent partner, Rafik Moore.

“Hey, I’ve got a deal that might work for you. We can’t execute on it right now, but it’s solid.”

Within 24 hours, my partner Rafik Moore had a pocket tenant who needed exactly this space.

We're assigning the deal to him for a fee.

His tenant gets an option to buy after closing.

Problem solved.

Everyone wins.

Look, we won't make our $750K.

We're taking assignment fees instead of the grand slam.

But watch what happens when you play the long game:

If we'd just cancelled:

Instead, here’s what’s happening:

Everyone wins.

And that's everything.

This isn't about being nice.

It's about understanding that real estate runs on compound returns from relationships.

I can't count the times I've honored commitments on deals—even when it cost me money—only to get that call months later:

"Saul, I've got something off-market that needs to close fast. Are you interested?"

They don't call because I'm the highest bidder.

They call because they know I perform.

When you put positive energy into the market, it comes back.

Maybe not immediately.

But it always comes back.

Most people optimize for individual deals.

Smart operators optimize for deal flow.

One deal going sideways?

That's Tuesday.

But burning a relationship because you couldn't pivot?

That's cutting off future deal flow for years.

The most successful operators aren't the smartest or most capitalized.

They're the most resourceful.

They turn problems into partnerships.

They convert setbacks into introductions.

They transform dead deals into referral engines.

Next time a deal doesn't go according to plan, ask yourself this: "How can I make everyone win here?"

Sometimes the best deals aren't the ones only you win—they're the ones you handle with grace when everything goes sideways.

Your network is watching.

Your reputation is on the line.

And your next deal is often hiding inside your current "failure."

What would you have done in my shoes?

Hit reply and tell me—I read every response and genuinely want to know your take.

P.S. I'll update you next month on how this closes. Fingers crossed Rafik gets his deal done.