Podcast
TCN Worldwide Market Minutes Podcast
Hosted by TCN Worldwide · ENGLISH
Your source for boots-on-the-ground local commercial real estate market knowledge.
21episodes
Episodes
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Ep. 21 Ash Parker & Jeff McMullen: The Capital of The South — Atlanta's Office & Retail Market
Feb 2, 202300:36:44Tap to summarizeDescription In this episode, we speak with two top agents from long-time TCN Worldwide member firm, Richard Bowers & Company in Atlanta, Georgia. Ash Parker, a top office broker, shares his thoughts on Atlanta's office market and Jeff McMullen, Atlanta's retail expert, speaks to the changing face of Atlanta's retail landscape. Ash Parker discusses how the office market has faired since the pandemic started and what he's seeing as people return to office properties in terms of vacancy and cap rates as well as what amenities and locations are having the most success in attracting people back to the office. Retail expert, Jeff McMullen, discusses CAM expenses, how rental rates and vacancies have shifted as well as the lead time retail tenants should expect when moving within Atlanta's competitive retail market. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:32] About our guests: Jeff McMullen and Ash Parker [01:39] What's going on in the Atlanta Office Market? [03:03] Taking the Covid pandemic into account, how has Office faired in Atlanta compared to the rest of the country? [06:02] Jeff, tell us how the town center (called the battery) around the stadium might dovetail with office and retail [08:28] What are the Atlanta trends in vacancies post-covid? [10:01] Jeff, What are you seeing with CAM expenses per square foot? [10:32] Ash, what are you seeing on the office side as far as vacancies and rental rates [15:59] Jeff, for both retail tenant and investors sides, where in Atlanta can I go for value? [18:06] What time of lead time should be expected for retail tenants to find good locations? [21:04] Ash, if I'm an investor in Atlanta and looking for value in office - where would I go? [24:20] So is the overruling theme here accessibility? [25:57] What conclusions can we draw over the next 12 months for the retail space? [27:50] Based on our discussion, what conclusions can we draw for the next 12 months? [32:12] Any final thoughts? (i.e. on the future of office space? Retail? How Covid changed things, etc..)
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Ep. 20 Vince Provenzano: Commercial Real Estate "Financial Value-Add" Strategies
Nov 9, 202200:23:18Tap to summarizeIn this episode, we talk with Vince Provenzano, President of Brokerage at San Diego-based Pacific Coast Commercial. Vince shares his expertise that spans over 40 years in San Diego real estate to discuss the commercial real estate market in Southern California as well as the details of two interesting transactions his firm recently completed, delivering significant "financial value-add" to their clients. From starting in construction and participating in the market for a short period of time as a residential agent to building one of the most prominent commercial real estate firms in San Diego, Vince Provenzano shares the story of his career and the philosophies that have made him and his firm a success. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:33] About our guest: Vince Provenzano [01:19] How did you get into this business and how did you arrive at the position you're in now? [03:12] Although you're based in San Diego, CA, what is your geographic area of outreach? [03:41] How long have you been with TCN? [04:50] Tell us how you operate with a focus geographically vs by a particular asset class [07:38] Tell us about the deal on Twin Oaks Valley road, which highlights what you do well [09:56] Talk to us about the Camino Real property deal [11:25] Tell us about your "financial value-add" on those properties and how that translates into increased rents [14:08] Do you ever see properties (managed by non-institutional owners) whose CAMs are not being properly calculated? [18:04] What's going on in the San Diego market? [20:25] What are bankers saying about what's going on in their financial institutions? [21:20] How can folks get in contact with you?
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Ep. 19 Justin Kessler & Nathan Meisner: Taking Advantage of Disruption in the Office Market; Rightsizing & the Flight to Quality
Oct 18, 202200:31:27Tap to summarizeJustin Kessler & Nathan Meisner with Bradford Allen/TCN Worldwide in Chicago discuss the ever-changing dynamics of the post-pandemic office market; how savvy tenants are taking advantage of this temporary disruption; and how the work-from-home trend has adversely affected younger workers who traditionally benefit the most from in-office mentorships. Learn what safety nets can be built into your lease to allow flexibility while maximizing the opportunities that the current market offers to tenants who wish to right-size or secure more prestigious office space with the amenities to help attract workers back to the office. Justin Kessler & Nathan Meisner also discuss their recent transaction with Lindsay, Pickett & Postel, LLC (LPP) who was occupying two separate offices on different floors in the same building. Seeking to consolidate to a single, high-class, high-rise space with east-facing views and abundant natural light, the client needed to sublease its existing spaces. This is a perfect example of the flight-to-quality trend currently being seen within the office sector. Many brokers would have walked away due to the complexity of this transaction but both Justin and Nathan were there with level-headed, worthwhile advice and guidance every step of the way. Aligning multiple transactions at the same time—Managing multiple timelines and interests with two subtenants and relocating to a new building required some creative thinking and disciplined project management, but Justin Kessler & Nathan Meisner were able to see this deal through to make sure Lindsay, Pickett & Postel, LLC (LPP) closed on each one of these transactions. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:32] About our guests: Justin Kessler & Nathan Meisner [01:11] How did you arrive at Bradford Allen, Justin? [01:53] How did you arrive at Bradford Allen, Nathan? [02:33] So you primarily help office tenants and landlords find space, correct? [03:24] What is your take on the media reporting that office is going away because people are working from home [04:46] What are you hearing from C--Suite executives about where the office market is headed? [06:31] Do you think the younger folks are the ones most adversely affected by COVID because they weren't allowed to come to the office and mingle with co-workers [09:37] Are you seeing a reluctance of employees to come back to the office since they got used to working from home? [10:30] Are you finding that tenants are reluctant to sign longer-term deals after what happened in 2020-2021 [12:36] Give us an overview of some of the flexibility that might be built into a lease to entice longer-term leases [16:02] Give us a high-level view of a recent complex transaction you managed [18:30] Eric's summary of the recent complex transaction [20:23] How did you coordinate the timing with those 2 new tenants? [25:21] Talk about the finances of this complex transaction [27:43] What are you seeing happening in the next few years in the Chicago market space? [29:15] How can folks get in contact with you?
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Ep. 18 David Verwer, CCIM: Property Management and the Return to The Office (This Time for Real)
Sep 8, 202200:24:58Tap to summarizeToday we talk with David Verwer, Director of Real Estate Operations, Mode Commercial to discuss the ins and outs of property management. David discusses several key components of property management, from leasing to maintenance as well as how years as a broker [David received the prestigious CCIM designation in 2002] have put him in the unique position of understanding all aspects of the commercial real estate business and allows him to relate to all sides of the table. We also take a look at office vacancy and the return to the physical office to explore what David is seeing firsthand as the director of operations for a leading property management firm focusing on Office, Retail, and Industrial properties within the Phoenix metro area.
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Ep. 17 Paul Hendershot: Commercial Real Estate National Mid-Year Economic Update
Jun 15, 202200:28:53Tap to summarizeIn this special episode, we talk with Paul Hendershot, Senior Director of Market Analytics at CoStar who delivers a comprehensive mid-year 2022 economic update and forecast for the commercial real estate industry. Paul Hendershot, a frequent participant at TCN Worldwide conferences and one of our most highly-rated speakers, brings a unique skill set as a career economist in the CRE industry. He provides a broad perspective on the national economy, how the first half of 2022 is shaping up and the current inflationary environment. In today's episode, Paul focuses on three asset classes (office, industrial, and retail) and shares his insights on what's going on in the national economy. What are the key components to keep an eye on during these turbulent times? How will rising interest rates and inflation impact the overall economy? On a regional basis how are the markets currently trending and what is the outlook for the remainder of 2022? Where are cap rates headed? Which product types will thrive and which will struggle in the year ahead? Paul closes by answering several questions provided by TCN Worldwide members.
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Ep. 16 Kevin Parisi: Retail Isn't Dead, It's Evolving
May 11, 202200:22:05Tap to summarizeToday we talk with Kevin Parisi, President and CEO of Albany-based Trinity Realty Group, LLC. (TRG) about the Upstate New York commercial real estate market as well as the evolution of the retail sector in the broader sense. He is bullish on both retail and office sectors, especially in suburban and secondary markets where rents can be advantageous to allow companies to maximize profit margins. Kevin also discusses his role in TV's only reality real estate show "The Real Estate Commission" which will be airing this summer. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:31] About our guest, Kevin Parisi [01:25] Give us a background on your firm and how you got started with TCN [02:23] Tell us about TRG, your markets, and what you're working on these days [03:58] What's happening in your market in terms of retail traffic [07:16] What's happening to the office market in Albany, NY? [09:13] Do CEOs really enjoy running their businesses via Zoom as the media suggests? [10:55] Are there national retailers that are looking to establish a foothold in your area? [12:51] As the CEO of a commercial real estate business, what keeps you up at night? [14:17] What makes TRG stand out against your competitors [15:45] Tell us about the reality TV show you were involved in that wil be coming out soon [19:59] How can folks get in contact with you?
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Ep. 015 Matthew Ferguson, CRE: The Changing Face of Indianapolis - $100M Project Along Monon Trail
Feb 18, 202200:22:22Tap to summarizeToday we talk with Matthew Ferguson, CRE, Vice President, Premier Commercial in Indianapolis to discuss the changing face of the city and the new 14.5-acre, $100+ million development along the city's Monon Trail, known as Monon 30. Matthew Ferguson, CRE, Vice President of Premier Commercial Real Estate Services/TCN Worldwide, has been working on the deal for over a year and was instrumental in contracting the several adjoining properties, finding outside sources to help with the development of the project, selling the idea to the neighborhood, and in meeting with City Council and officials to bring the deal to fruition Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:31] About our guest, Matthew Ferguson [01:26] What's your background, and how did you get into commercial real estate? [02:42] Why was joining TCN important to you? [03:56] Tell us about the market in Indianapolis [05:57] Tell us more about the office market; are folks starting to come back to the office? [08:23] Tell us about the project you're going to be working on that will literally change the face of Indianapolis [11:54] What is the vision for the parcel / assemblage? Is it retail? Multifamily? Mixed use? [16:49] Are you seeing movement towards a more dense type of structured living? [18:48] Where do you see the Indianapolis commercial real estate market now, and where do you see it in the future? [19:40] How can folks get in contact with you?
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Ep. 014 Marty Cleckler: Market Outlook in Lubbock, TX
Dec 2, 202100:23:04Tap to summarizeToday we talk with Marty Cleckler, MAI, Managing Director of WestMark Commercial in Lubbock, TX about what he's seeing within his market, how Texas Tech impacts their commercial real estate market, and how it compares to other markets throughout the U.S. In this episode, Marty discusses each sector, how Lubbock has developed into an economic and healthcare hub to the region as well as what he see's in the years ahead. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:32] About our guest, Marty Cleckler [01:26] How did you end up with WestMark Commercial? And what's your background? [02:46] What was the driver behind you joining TCN? [03:41] What are the drivers in your market, and what makes it different? [06:20] Give us a high level overview of what you're seeing in each of the major asset classes [08:37] For new construction, what are you seeing for industrial rates range? [09:10] What are you seeing in retail? [12:35] What makes your market unique? And what are the highlights? [15:47] Tell us about your latest significant deal with Metro Tower [17:30] How would you talk to agnostic investors about the best opportunities in your market? [18:30] Where do you see your market headed? [19:49] What makes your firm stand out in the market? [20:47] How can folks get in contact with you?
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Ep. 013 Paul Hendershot: Commercial Real Estate National Mid-Year Economic Forecast
Jul 8, 202100:19:21Tap to summarizeIn this special episode, we talk with Paul Hendershot, Senior Director of Market Analytics at CoStar who delivers a comprehensive mid-year economic update and forecast for the commercial real estate industry. He provides a broad perspective on the national recovery; where we've been, how the first half of 2021 is shaping up and what's in the forecast for the 2nd half of the year. In today's episode, Paul focuses on three asset classes (office, industrial, and retail) and shares his insights on what's going on in the national economy. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [02:18] The economy is turning a corner [02:53] Employement outlook [04:20] eCommerce outlook [05:16] U.S. office market outlook [07:26] Sublease space outlook [10:42] Industrial market outlook [14:38] Retail market outlook [17:01] Summary of economic outlook
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Ep. 012 Grant Pruitt: Dallas-Fort Worth Office Market Outlook
Jun 2, 202100:44:57Tap to summarizeToday we talk with Grant Pruitt, President & Co-Founder, Whitebox Real Estate in Dallas, TX about what he's seeing within the DFW office market and how it compares to other markets as people return to the office. In this episode, Grant discusses the DFW office market and why he's bullish on the office sector as we come out of the pandemic and in the years ahead. Key Discussion Points [00:17] Welcome and introduction by Eric Odum [00:29] About our guest, Grant Pruitt [03:05] What do you see happening to the office market? [16:50] What is the 3-2-2 work week? And what might this mean for commercial real estate? [20:05] Are you seeing companies change their configuration? For example, implementing any social distancing, plexiglass, or other measures? [21:51] Focusing on the Dallas area, is the Central Business District (CBD) coming back? And what sub-markets are working for you? [28:09] What's going on with the distressed investors in the Dallas Fort Worth (DFW) market? [29:38] What is your outlook on the Dallas market over the next 12-24 months? [41:22] Do you have any other concerns as it relates to the DFW market? [43:16] How can folks get in contact with you?
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