Closers in CRE

This week's episode wraps up Season 1 and what better way than to check in with CEO of Lee & Associates, Jeff Rinkov. Tune as we chat about, the next covid fatality, gaps and/or opportunities within CRE, his struggles and strengths when leading, and what brokerage look like 10 years from now. He even shares some of his favorite gummy bear flavors! 

Jeff began his career in Real Estate Brokerage in 1995 with Lee & Associates City of Commerce Office. Prior to 1995 Jeff was Vice President of Sales, servicing national retail clients for a manufacturer of home furnishings. During his tenure at Lee & Associates Jeff has specialized in the representation of property owners, tenants and buyers in the leasing and sale of Central Market properties. Geographically his focus has been properties in the Central Los Angeles/Downtown market including Commerce, Vernon and surrounding cities with high industrial concentrations. In February of 2001 Jeff became a Senior Vice President / Principal at Lee & Associates, a designation granted based upon outstanding client representation and superior production. In February of 2007 he was elected as President of the Commerce office. 

After serving for 5 years on the Lee & Associates National Advisory Board Jeff accepted the CEO position of the Lee & Associates Licensing and Administration Company in October 2013. 

We're excited to be back in the Fall! In the meantime, follow us on social media and Spotify! 

We're circling back with an update from our guests on Episode 1 of "Lee vs. The Virus." As States are coming out of quarantine, trends are evolving to meet consumer needs and the market has is displaying positive signs. 

Topics we're discussing today include: 

Freezer/Cold Storage
Evictions and tenant/landlord reaction 
Ecommerce growth 
Port Markets
Oil and Gas Fallout 
Impact on the economy and supply chain

In this episode, we're discussing development trends with experts at Lee & Associates and Becknell Industrial. They're giving us an overview of the current market position, what land pricing looks like and projections on rental rates and how they have been influenced since the start of 2020. 

In this episode, our experts weigh in on investors, lenders and tenants and try to pinpoint where the market is headed.

The general consensus was that industrial and multi-family will come out of this cycle and continue to do well while other asset classes are more likely to hurt. Retail is expected to take the biggest hit and will have an uphill battle. However, well located retail is expected to survive and well situated retail sites could provide opportunities for new tenants or a redevelopment play for multi-family.

Owner user values will plateau rather than continue to increase steadily as we have seen. Buyers looking to occupy the building will be more cautious and assume there should be a discount on pricing. There is likely to be a buyer-seller gap for the next 6-12 months until a new market is established.  

While Interest rates are low, lenders and buyers will remain cautious. Though with industrial being a favorable asset type, lenders are more likely to place their bets and put money there, keeping cap rates in check.

In Part II of  Lee VS. The Virus, we discuss impacts on the office and industrial markets across the country with Top Producers in the Lee & Associates network. Tune in for insights on:

• Rent Abatement
• The current financial market versus those of the past 
• Obstacles in the office market
• Industrial leasing and what does that this mean for industrial product type 

Tune in to episode one of our five part series “Lee vs. The Virus.” We will be covering the global impacts on Ports around the Country during these unprecedented times  and hearing firsthand from Broker experts within Lee & Associates. 

Jeff began his career in Real Estate Brokerage in 1995 with Lee & Associates City of Commerce. Prior to 1995, Jeff was V.P. of Sales, servicing national retail clients for a manufacturer of home furnishings. During his tenure at Lee & Associates, Jeff has specialized in the representation of property owners, tenants and buyers in the leasing and sale of Central Market properties. Geographically, his focus has been properties in the Central LA/Downtown market. In February of 2001, Jeff became Senior V.P. / Principal at Lee & Associates, a designation granted based upon outstanding client representation and superior production. Jeff accepted the CEO position in October of 2013.

Hear first hand insight about the effects of tariffs on commercial real estate from market expert Michael Zakkour. 

Author of the Wiley Books bestseller “China’s Super Consumers” & “The New Retail Revolution: How Alibaba, JD and Tencent are Changing the World of Commerce” out in June, 2019. 

A unique background that perfectly suits the 4th industrial revolution. More than 20 years of experience in eCommerce, 17 years of living in and working in China, & Tompkins is a leading eCommerce focused supply chain & logistics provider.

A regular guest on the BBC, CNN, NPR, NBC. Has appeared in The Wall Street Journal, FORBES, WWD, MSNBC, NYSE TV and countless other print, digital, web and broadcast outlets. An acclaimed and sought after professional speaker and lecturer including hundreds of industry and corporate conferences and events as well as at Yale, UPENN, NYU, Kellogg, Columbia, BWG/eComm Advisors Conferences, The China Institute and others.

Prior to joining Tompkins founder and managing director of China BrightStar, LLC, a leading China market strategy firm.

His extensive, hands-on dealings in China during the last 17 years have led Michael to be widely sought after by businesses, institutions, universities on such topics as branding + retailing in China, luxury in China, Chinese business and investment opportunities; the ever-changing nature of China–U.S. trade and political relations; cross-cultural negotiation; manufacturing/sourcing/supply chain management; marketing, sales, and distribution in the Chinese market.