SIOR/IAMC Facility Flexibility

McGowan was the SIOR representative on a joint research project being conducted collaboratively by IAMC and SIOR. 

The Industrial Asset Management Council is the leading association of industrial asset management and corporate real estate executives, their suppliers and service providers, and economic developers.

The members of IAMC are a veritable Who's Who of Corporate Real Estate. Their ranks include senior real estate directors from 3M, Alcoa, Air Products and Chemicals, BASF, PepsiCo, General Mills, Honda of America Manufacturing, Johnson & Johnson Pharmaceuticals Group, The Linde Group, Pfizer, Weyerhaeuser and many other large industrial firms.

These industrial asset leaders voluntarily came together to form an elite organization that sets high professional standards for its members and provides high-quality education. The group meets each year at two separate Professionals Forums that provide quality networking opportunities and in-depth programs at comfortable locations. The atmosphere is very professional, low-key and collegial, with none of the trade show trappings that characterize many other conventions.

SIOR and IAMC have jointly initiated the project "Designing Flexibility into the Industrial Workplace". The purpose is to reduce the time and corporate expenditures for recycling existing facilities to their next uses, whether by the current owner or tenant or the next. The project phase-1 objective is to evaluate the state of industrial real estate relative to the flexibility and reuse potential of warehouse, distribution center, research, laboratory, chemicals and gases manufacturing, heavy and light manufacturing, and regulated manufacturing (which includes pharmaceuticals and food). Of the challenges to flexibility, the project will evaluate those due to work process, infrastructure (including HR and technology) and the facility itself, among others.

This research will benefit the public by showing a path forward for creating flexible industrial workplaces and facilities that can reduce the costs and time needed for refitting and revamping them. The flexible reuse of these sites will help retain workforces and reduce the number of "brownfield" sites resulting from complete facility demolition. One day, implementing these flexibility concepts could reduce costs in design and construction benefiting the life cycle value of properties. The project is currently midway through discovering the issues of refitting different industrial facility types for their next use. IAMC has created a Beta-Test facility survey to send to IAMC Active members to understand average time in use, average time between uses, and the investment required to ready them for reuse. The next major project steps are to compile and finalize all of the data gathered in May and June and draft a report outline.     For more details, click here.   Phase Two is planning on examining the Industrial Building of the future.

An IAMC Elevator Pitch

Quickly and succinctly describing IAMC to potential members has become a priority need among volunteer leaders in order to successfully invite non-member corporate real estate executives (CREs) to IAMC Local and International events. Further, the organization has to recruit new Actives to fill in for ongoing attrition due to retirements, job changes and moves to other companies.

What should an effective IAMC pitch consist of?

• Begin by explaining the acronym and a little about the organization. IAMC stands for Industrial Asset Management Council, a professional association of industrial and manufacturing CREs, their service providers and economic developers.

• IAMC was founded in 2002 by Mac Conway, who saw that no organization then existed to serve the special needs of corporate end-users working for manufacturing and industrial companies.

• The organization’s governing principle has always been “quality over quantity.” For IAMC, this means growth and expansion should be considered only if they benefit existing members.

• IAMC is relatively small at about 600 members. Its conventions, called Professional Forums, attract somewhat fewer than 500 registrants. The organization’s strategic plan was updated in 2013 to say that Professional Forum attendance should be capped at 500.

• The organization is known for providing an outstanding networking environment at intimate events. For example, successful IAMC Local and International meetings have from 15 to 50 attendees.

• For IAMC, the foundation of good networking is an emphasis on relationship building among the members. Business-card distribution is discouraged as a method of becoming known to other members.

• All IAMC events have a targeted balance of Active and Associate members.

• Lastly, event education programs focus on Active-member needs and interests.

For a free review of a facility that you think might need to be repurposed, (whether owned or considered for acquisition) please click here.