1 hr 55 min
Mark Toro: The North American Properties Atlanta Founder on Creating Experiences Commercial Real Estate Developer Interviews: Floorplate
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- Investing
Mark Toro is admired as one of America’s smartest commercial real estate developers. So you’ll be surprised to learn he doesn’t think of himself as a developer per se. That’s despite having developed over 9 million square feet of mixed-use projects since founding North American Properties Atlanta in 1996. Those millions of square feet have included retail, office, multifamily and hotel space. So if Mark doesn’t think ‘developer’ describes him accuratly, what does? He says that, first and foremost, he’s an entertainment and hospitality entrepreneur. In other words, he’s in the business of creating experiences. Why experiences? Because he says mixed-use developers need to do more than simply erect buildings. And fill them with tenants. Above all, he argues that today’s developer needs to play an ACTIVE role in driving footfall. But Mark doesn’t want any old footfall. He wants a property to buzz with the energy of people who love being there. How does he get these people on-site (and keep them coming back)? By curating entertainment and hospitality experiences that draw people in like a magnet. Needless to say, once he has a tide of fans pouring through the door, high-paying tenants are close behind. That’s why his 2.3 million square foot Avalon development in Atlanta hosts an Apple Store. Plus a Tesla showroom. And now Peloton are opening, too. In today’s podcast, Mark walks you step-by-step through the process he took to switch from old-school developer to becoming a master at crafting entertainment and hospitality experiences. Listen now and you’ll discover…Why he pivoted from traditional property development to an experience-led model. How it has given rise to flourishing communities at his sites. Why these communities are turbo-charging demand for his retail, office, residential and hotel spaces. What the switch has done to his net operating income. How he attracts top retail tenants. How he sources equity and debt to finance his developments. How he acquires sites. Why he’s quit doing greenfield developments. And MUCH more…
Mark Toro is admired as one of America’s smartest commercial real estate developers. So you’ll be surprised to learn he doesn’t think of himself as a developer per se. That’s despite having developed over 9 million square feet of mixed-use projects since founding North American Properties Atlanta in 1996. Those millions of square feet have included retail, office, multifamily and hotel space. So if Mark doesn’t think ‘developer’ describes him accuratly, what does? He says that, first and foremost, he’s an entertainment and hospitality entrepreneur. In other words, he’s in the business of creating experiences. Why experiences? Because he says mixed-use developers need to do more than simply erect buildings. And fill them with tenants. Above all, he argues that today’s developer needs to play an ACTIVE role in driving footfall. But Mark doesn’t want any old footfall. He wants a property to buzz with the energy of people who love being there. How does he get these people on-site (and keep them coming back)? By curating entertainment and hospitality experiences that draw people in like a magnet. Needless to say, once he has a tide of fans pouring through the door, high-paying tenants are close behind. That’s why his 2.3 million square foot Avalon development in Atlanta hosts an Apple Store. Plus a Tesla showroom. And now Peloton are opening, too. In today’s podcast, Mark walks you step-by-step through the process he took to switch from old-school developer to becoming a master at crafting entertainment and hospitality experiences. Listen now and you’ll discover…Why he pivoted from traditional property development to an experience-led model. How it has given rise to flourishing communities at his sites. Why these communities are turbo-charging demand for his retail, office, residential and hotel spaces. What the switch has done to his net operating income. How he attracts top retail tenants. How he sources equity and debt to finance his developments. How he acquires sites. Why he’s quit doing greenfield developments. And MUCH more…
1 hr 55 min