Bill Luttrell’s Big 5 Reasons Why Young People Should Make Industrial Real Estate a Career
By John Salustri
It’s an understatement to say Bill Luttrell’s resume is varied. The Werner Enterprises corporate real estate director has served as an international business development manager, a site selector, a cryptologist, even a submariner (these last two assignments for the US Navy).
But, and this should come as no surprise, he loves industrial real estate. So, neither would it be surprising that the Omaha-based Luttrell is an advocate to younger folks for a career in his most enjoyable career choice. Here are his Big 5 reasons why:
- “It’s exciting,” says Luttrell. While commercial real estate, particularly class A office space, were once the darling of real estate, “today, industrial is king. And it’s exciting because it deals with so many aspects of business. It’s all about the supply chain and logistics and real estate availability.”
- “There’s opportunity and there’s reward,” he states. “Real estate is the biggest spend a company has – after people and perhaps equipment.” And corporate decision makers are awakening to that fact, the result of which is that “I’ve seen corporate real estate over the past 10 years start to gravitate more towards the C-Suite. Yes, there are still a lot of doors that need to be opened along those lines, but the rewards for a job well done and the opportunities for growth are expanding.”
- “The profession is not only cross-border, it’s global,” says Luttrell. Piggybacking on the idea of growth, he notes that, “The opportunities aren’t just local. They’re regional and global. Learning the intricacies of a market, whether its international, regional, urban or rural, is so exciting. There are so many things you can do, no matter where you want to focus.”
- “The industry is increasingly diverse,” Luttrell continues. This might come as a surprise to many outsiders, especially to younger generations, but “There are a lot of women in this industry. Real estate in general has increasingly attracted a lot of females and other previously under-represented groups over the past few years. That’s such a positive thing and is especially seen on the service provider side, industrial brokers and site selectors.”
But, as compelling as these reasons are, none are as appealing for Luttrell as the one he saved for last. “Here’s the real reason I love this industry,” he says:
- “It’s complex. Industrial real estate is by far the most complex asset class.” The former Navy cryptographer explains, “I love solving puzzles, and I quickly realized that industrial real estate is all about solving puzzles. There are so many moving parts, whether it’s supply chain logistics or labor or taxation or utilities, and no answers are ever cookie-cutter. They’re specific to each company, each project. It’s all very complex. But it’s so much fun!”