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For decades, the industrial real estate playbook was predictable: chase cheap labor inland, build commodity big-box distribution centers, and ride the tailwinds of global trade and e-commerce. But what happens when automation completely changes the labor equation, tariffs challenge global supply chains, and AI demand spills out of data centers into physical manufacturing?
In this episode of Adding Value, Shy Assar sits down with Arya Rashtchi, founder of Avenue Equities and co-founder of deep-tech venture firm Coastline Venture Partners. Bringing an institutional background from shops like Starwood Capital Group, Hudson Pacific Properties, and Stockdale Capital Partners, Arya combines macro technology venture signals—including an early Series B stake in Anthropic—with physical commercial real estate execution.
Arya breaks down his thesis on why AI creates a world of regional "haves and have-nots," why high-power infill flex industrial assets in deep engineering talent sheds (like Irvine and Costa Mesa) will outperform traditional logistics warehouses, and how he executes deals institutional funds simply cannot buy.
What You'll Learn:
The AI Land Grab Thesis: Why automation flips traditional site selection math and favors talent-dense infill markets over commodity big boxes.
High-Power Flex vs. E-Commerce Boxes: Why biotech, defense, aerospace, and advanced manufacturing require irreplaceable facilities with heavy utility infrastructure.
Venture to Physical Dirt: How Coastline secured early Series B shares in Anthropic via secondary DOJ liquidations and applied those macro lessons to commercial acquisitions.
Underwriting Cartwright Business Park: Sourcing and acquiring a 118,867 SF, 6-building infill industrial park in Irvine for $42.35M from Link Logistics.
Crushing Pro Formas: Executing an early renewal with VCA Animal Hospitals at $2.75/SF NNN against an underwritten broker assumption of $1.65/SF.
Repositioning Funkier Assets: Buying the 124,000 SF Fletcher Jones property at land value ($138/SF) and adding 4,000 amps of power for autonomous vehicle users.
Entrepreneurial Conviction: The mental discipline required to endure three full years with zero acquisitions during market euphoria to protect basis.
Timestamps:
00:00 - Teaser: Discipline, Conviction, and Doing Deals Institutions Can't Buy
00:54 - Introduction: The End of the Traditional Industrial Playbook
01:46 - AI & Industrial Real Estate: A World of Haves and Have-Nots
03:25 - Labor Dynamics: Why Automation Shifts Demand to Skilled Pockets
05:00 - Advanced Manufacturing & Biotech: The Need for High-Power Infrastructure
06:49 - Why Commodity E-Commerce Big Boxes Face Headwinds
08:12 - Irvine Business Complex (IBC): Scarcity, Moratoriums, and Residential Downside Protection
09:13 - Case Study: Buying Fletcher Jones at $138/SF & Adding 4,000 Amps of Power
11:54 - Arya’s Institutional Pedigree: Starwood, Hudson Pacific, and Stockdale
13:40 - Macro Underwriting: Framing Relative Value Across Asset Classes
15:37 - Venture Capital Upstream Signals: Investing in Anthropic Series B
17:15 - Enterprise AI vs. Consumer AI (Anthropic vs. OpenAI)
18:48 - Mid-Roll: Commercial Real Estate Advisory with Shy Assar (Voit)
19:16 - Launching Avenue Equities & Presenting Top-Down Theses
21:41 - The Sweet Spot: Institutional Quality Deals Institutions Can’t Touch
23:02 - Sourcing Off-Market: A 5-Day Bank Due Diligence Win
24:00 - Hold Horizons: Why 7-to-10-Year Profiles Scare Away Institutional Funds
25:24 - The 3-Year Dry Spell: Surviving Market Euphoria Without Doing a Deal
27:47 - Deep Dive: Acquiring Cartwright Business Park for $42.35M from Link Logistics
30:08 - Underwriting Basis: Buying Core Irvine at $100/SF Land Value
33:25 - Outperforming Pro Formas: Pushing VCA Rents from $1.65 to $2.75 NNN
34:37 - Tenant Stickiness: Why Fast Food Tech & Animal Hospitals are Recession-Resistant
35:30 - Capital Sourcing: Working with Patient High-Net-Worth & Family Offices
37:32 - Final Takeaways on Basis, Location, and Macro Real Estate Fundamentals
Featured Guest:
Arya Rashtchi: Founder, Avenue Equities | Co-Founder, Coastline Venture Partners
#IndustrialRealEstate #ArtificialIntelligence #CRE #InlandEmpireRealEstate #OrangeCountyIndustrial #AddingValuePodcast #AvenueEquities #CommercialRealEstate #FlexIndustrial #RealEstateInvesting
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