In this episode of The Industrialist, Jeremy Mercer sits down with retail real estate veteran Dave Cheatham to discuss the changing business landscape surrounding college athletics, NIL, and the broader evolution of real estate strategy.

With more than 30 years of experience and over $3 billion in retail transactions, Dave has advised some of the nation’s largest brands including JCPenney, Hobby Lobby, Aldi, Gap, Darden, CVS Pharmacy, and Signet. Throughout his career — including leadership roles at CB Richard Ellis, Staubach Retail, and X Team Retail Advisors — he has become known for helping shape corporate real estate strategies, executing large-scale retail rollouts, and mentoring the next generation of industry leaders.

Jeremy and Dave dive into how NIL is reshaping college sports, how universities and brands are adapting, and why understanding market dynamics matters more than ever. The conversation also explores the parallels between sports and real estate - from stadium developments and student housing demand to long-term investment strategy and navigating changing economic cycles.

This episode is a practical discussion on leadership, adaptability, relationship-driven business, and what it takes to stay ahead in industries that are constantly evolving.