AFIRE Podcast #37: Industrial, Ugly Duckling Or Swan?

(Featuring Stefan Wundrak, Head of Research, Europe, Nuveen Real Estate)

In a fast-changing landscape, logistics and industrial real estate is increasingly critical and poised for tremendous growth. So how do you get in?

The pandemic and subsequent severe recession has caused friction in many parts of the real estate market, especially in retail, hospitality, and office. In contrast, many parts of the industrial market are set to benefit, most obviously, the logistics sector.

With the development of the digital economy, data centers are the next frontier, where a mixture of REITs (mainly in the US) and private market capital (mainly in Europe) are shaping a new distinct asset class with huge growth potential. Data centers must be near their customers, which are consumers as well as businesses. 

In this podcast, Stefan Wundrak, Head of Research, Europe, Nuveen Real Estate, talks about how industrial real estate has grown as a sector of its own driven by e-commerce and trends accelerated through COVID-19.

This podcast is based on the article “Industrial: Ugly Duckling or Swan?” from Summit Journal (Fall 2020). Read the full article here.


Stefan Wundrak oversees all research across Europe, including the UK, within the global research function. He specializes in global logistics and was instrumental in launching the Nuveen Real Estate logistics franchise. He represents the research team in the Nuveen Real Estate investment committee.

Since joining the company in 2006, Stefan has been involved in marketing and consultancy for German speaking clients as well as for European products globally. He has pioneered Nuveen Real Estate’s city research approach in Europe, and heavily supports the capital raise and asset selection for the European Cities Fund (ECF). Stefan started his career with HypoVereinsbank Real Estate Advisory Group New York as a trainee in property asset management and market research. In 2003, he moved to Frankfurt-based Oppenheim Immobilien Kapitalanlagegesellschaft where he was a European and US property market analyst.

Stefan graduated with a degree from Ludwig-Maximillians Universitat and a Diplom Volkswirt (Masters in Economics) from Universitat Zurich. He is a member of the Gesellschaft für immobilienwirtschaftliche Forschung (Real Estate Society).




The publisher of AFIRE Podcasts is not engaged in providing tax, accounting, or legal advice through this publication. No content published in the AFIRE Podcast is to be construed as a recommendation to buy or sell any asset. Some information included in the AFIRE Podcast has been obtained from third-party sources considered to be reliable, though the publisher is not responsible for guaranteeing the accuracy of third-party information. The opinions expressed in the AFIRE Podcast are those of its respective contributors and sources and do not necessarily reflect those of the publisher.


Benjamin van Loon, Communications Director | +1 202 312 1405

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