TCN Worldwide Market Minutes Podcast TCN Worldwide

Description
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..)
 
 

In 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?
 
 

Justin 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?
 

Today 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.

In 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.  

Today 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?