Meet a NAIOP Chicago Developing Leader | Peter Moriarty
Name: Peter Moriarty
Company: IDI Logistics
Position: Director of Capital Deployment & Leasing
Education: University of Kansas
Years in Real Estate: 6
1. What led you to work in the Real Estate industry? Describe your current responsibilities:
I studied finance in school and knew I didn’t want to do accounting. I didn’t think I meshed personality wise with banking but my older brothers were doing real estate capital markets so I figured I would at least try it, knowing a strong analytical background would allow me to pivot if needed. Now I lead IDI’s deployment and asset management in Chicago and I also moonlight in Phoenix on acquisitions. Historically we’re a pure play developer but recently we’ve also pursued a vacant shell acquisition strategy as a complement to our development portfolio.
2. Who has been the biggest influence in your career?
Having brothers be successful in the industry helped show me the path…I think nepotism is the word you’re thinking of. I’m lucky to have someone to bounce ideas off of and compare notes with.
3. How long have you been involved with NAIOP and what do you view as the benefits of your NAIOP Developing Leader membership?
Since 2022 – my former boss at IDI was the DL president when I joined IDI and he really impressed upon me the value of getting involved with the organization. I’ve met so many people I now consider friends and resources through NAIOP. I’m now in a forum and have friends in industrial across the country. Real estate is the smallest big industry. Pretty soon, you start running into people on deals who you met through NAIOP.
4. What are your future career goals?
At some point I’d like to be an independent developer with the flexibility to work on a variety of projects in different markets.
5. What was one thing that has surprised you about your career?
How small the industry is, particularly within industrial. You start seeing the same names and people popping up everywhere so don’t burn bridges.
6. What is the most important lesson you have learned during your career?
If you make a mistake, own it and own it fast. Don’t try to hide it, that will always make the situation worse.
7. What characteristics do you consider most important in your role and in the industry?
Be comfortable with the math but don’t hide behind your computer. Pick up the phone (or go see the person), be outgoing. This is one of the industries where going to happy hours and dinners is legitimately an important part of the gig.
8. Outside of work, how do you enjoy spending your time?
Depending on the season, golf, hunting or skiing. I love to be outdoors.
9. Where is your “hidden gem” location in Chicago?
The Lodge on Division. Gotta love free peanuts with your beer. Sort of a backhanded compliment to be called a regular there.