The Developers: Commercial Real Estate Developer Interviews

Want to know how to boost your return on mixed-use buildings? If so, don’t miss my interview with London commercial property developer, Sascha Lewin. Sascha is the founder of W Real Estate. And he’s now emerging as a significant player in London’s mixed-use development scene. In today’s conversation, Sascha reveals how he finds, funds, develops and tenants his properties. Listen in and you’ll discover: Why he likes developing commercial real estate. How he built his skills. Why he’s focused on London. How he sources investors. How he finds development sites. How he develops his sites. What he does with his completed sites. What role office working will play in the future. And MUCH more…

You don’t need me to point out that many shopping malls are in crisis. But did you know that one of the sector’s big underlying problems is this: mall owners typically know little about the individuals who shop with them. Or what will trigger a specific person to visit the mall more often (and spend more when they do). The result? Many mall owners have few ways to (measurably) boost footfall and sales. That makes it hard to know – in fine detail – which of their marketing ideas work. And which don’t. At the same time, mall owners often lack a direct communication channel to their shoppers (other than using media within the mall itself). That means owners often have to spend money on advertising each time they want to drive people back to the mall. As you can see, all this limits the mall owner’s ability to control whether their mall thrives. Or dies. Enter Placewise, a retail real estate proptech business who’s systems are used in over 1,000 shopping centres around the world. In fact, Placewise is the world’s largest provider of software designed with just one goal in mind: to allow mall owners to measurably boost footfall and shopper spend. In today’s conversation, Placewise boss, Peter Tonstad, walks you through how his product works.
And why it might just save the mall. Listen now and you’ll learn: How to get shoppers to hand over their personal details. How to send personalised offers to them instantly (without having to spend money on advertising). Which retail offers get people spending (and which don’t). How to convince retailers to provide compelling offers. How to track results. How to compare your results with your peers. 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…

Crispin Kelly is a man on a mission: to prove that superb architecture is a vital part of commercial real estate development. Since launching Baylight Properties 30 years ago, he’s focused on multifamily and office developments in central London. But an enthusiasm for suburban living has also seen him develop housing in suburban areas of England. Outside of his commercial work, Crispin champions the importance of architecture through his charity, the Baylight Foundation. He also chairs Open City and the Trustee Board at the London School of Architecture. But while Crispin often talks publically about architecture, he rarely discusses the commercial aspects of his operation. In today’s episode, he does just that. Listen now and you’ll discover: why he prefers to buy and hold (rather than sell) his completed properties. Where he finds his properties. How he closes deals. How he funds his developments. Where he sources finance. How he manages his properties. What profit margin he targets. And MUCH more…

Are you interested in the specific ways a successful New York property developer built his business? If so, you cannot afford to miss this interview. Starting from scratch, Scott Metzner has spent the past thirty years building a substantial property development business in Manhattan. Beginning with a single walk-up, Janus Property now develops and reinvigorates entire city blocks. And right now, Scott is in the middle of his largest project yet. In fact, The Manhattanville Factory District is the largest privately-owned development in Upper Manhattan. Spread over 4-acres, the project will deliver 1.1 million square feet of space. This will connect Columbia University, City College and the 125th Street innovation and culture corridor. In this surprisingly candid conversation, Scott shares with you the specific details of how he’s achieved success. Listen now and you’ll discover: How he thinks about risk. How he sources finance. How he finds properties. How he closes deals. How he engages local communities. How he works with planners. How he develops properties (especially difficult ones). How he Attracts the right tenants. And MUCH more…

Is the physical store still relevant in an age of online shopping and remote working? According to today’s guest, the answer is an emphatic yes. Doug Stephens is a retail futurist who, as CEO of Retail Prophet, advises the leadership of global brands on what’s next for retail. His client list includes Walmart, IKEA, Disney, LVMH and Microsoft. He’s also the author of the best selling books The Retail Revival and Re-Engineering Retail. In a nutshell, Doug’s view is that the future is bleak for physical shops selling mundane items that are easier (and cheaper) to buy online. But when it comes to high-interest products, he thinks consumers are hungry for physical stores. Especially ones that brim with imaginative experiences – like the Apple Store. Meanwhile, Doug says that for brands that want to boost returns on their marketing spend, exciting physical retail is a no-brainer. Why? For a start, online advertising costs have gone through the roof. That means physical stores are often a cheaper way to make potential new customers aware of your brand. Next, he argues that nothing beats an inviting physical store for enthusing people about a brand and its products – and converting those people into buyers. Meanwhile, Doug has strong views on the future role of landlords. In particular, he says that if landlords want to avoid tumbleweed blowing through their retail spaces, they need to get busy driving footfall. How? By curating spaces and places that people want to spend time in. Listen to our conversation now and you’ll learn: How the relationship between physical and online retail works today (hint: there’s more to it than you think). How to win with physical stores. What kind of physical experiences appeal to younger consumers. Why the changing role of physical retail will impact rent models. How the shift to remote working will change the shape of physical retail. Which landlords are getting it right. And MUCH MUCH more.

Are you wondering what’s next for out-of-home dining? And food retail in general? If so, you must listen to this conversation with Andrea Rasca. He’s the man behind London’s WILDLY popular eatery, Mercato Metropolitano. A food entrepreneur for 30 years, Andrea is now shaking up how the sector works. That means changing what we eat. And how food is produced, distributed and sold. Put simply, the former Eataly executive is on a mission: to change everything to do with food. In fact, he doesn’t call Mercato a business.
He calls it a movement. So, in terms of nuts and bolts, what is Mercato Metropolitano? As you’re about to hear, it’s what Andrea describes as a ‘platform’. As he explains in today’s talk, its role is to create the infrastructure upon which independent artisanal food operators can trade (and flourish). That includes physical infrastructure. And operational infrastructure. For example, at a given site, Mercato takes on the lease, does the basic fit-out – and handles all side-wide operations. That frees an individual stall holder to concentrate solely on what they know best: serving delicious food and drink. Andrea says that because this maximises food and drink quality, the stall-holder is able to make more sales. And consumers get better food (plus a more enjoyable dining experience). As you’ll hear, this platform approach is delivering incredible results. For example, in 2016, Mercato launched its first London site. It was on 4500 square meters of forgotten industrial space in (then) unfashionable Elephant & Castle. In 2019, that site drew in FOUR MILLION people. No wonder smart commercial real estate owners are now banging on Andrea’s door urging him to set-up inside their properties. After all, a tenant like Mercato can do amazing things for your nearby retail, office and residential spaces. So which property businesses have partnered with him so far? In 2019, Mayfair owner, Grosvenor Estate, gave Andrea his second site – a disused Mayfair church. And in 2020, LendLease is bringing the third Mercato Metropolitano into its new mixed-use development, Elephant Park. 2020 will also see Andrea partner with Redbridge Council to open his fourth London site – on a former car park in the East End neighbourhood of Ilford. Meanwhile, Mercato Metropolitano is going global. As you’re about to hear, sites are planned for cities including Paris, Berlin, New York and Miami. Andrea has amazing stories to tell. Listen to him now and you’ll learn: What role food played in his childhood. How he was influenced by his entrepreneurial father. Why Eataly chose him to launch in Japan. What happened when he used Milan to first test the Mercato concept (you HAVE to hear this story – it’s nuts). How he negotiates leases. How he plans, builds and operates his sites. Where he makes his money. Why the Mercato platform allows small traders to thrive (even when they start with little capital). What inspired him to build a food movement – not just a food business. And MUCH more.

Does your commercial real estate marketing get results? If not, you’ll LOVE today’s show. Joining me is CRE marketing communications expert, Dan Innes. Dan is the founder of Innesco, a commercial real estate marketing communications agency based in London. He says if you’re hunting for serious ROI, you must first nail down your marketing objectives. Next, you need to wrap your head around the four media types you can use to hit those objectives. Only then can you create a winning strategy. And a program to implement it. In today’s conversation, Dan walks you through each of the media types. And gives you an INSIDER’S view on how to use them. In other words, if you spend money on marketing, this is UNMISSABLE stuff. Listen now and you’ll discover: What the four media types are. Where they can help you (and where they can’t). How you can get the four media types working in lock-step. How to measure results. And MUCH more.

In the wake of lock-down, do you still need a traditional office? After all, millions have apparently stayed productive – despite working from home. The result? Many office tenants now see a chance to slash rents by keeping their staff at home – and cutting back on office space. Needless to say, if tenants do shrink their offices en masse, there’s a big ‘ol question mark about the value of office buildings. Not to mention nearby retail and residential. So how big might the move out of traditional office space be? And how might it impact our cities? To help answer these questions, this episode features a conversation with remote working expert, Professor Barbara Larson. Professor Larson is a faculty member at the D’Amore-McKim School of Business at Northeastern University. And a regular Harvard Business Review contributor. Listen to our conversation now and you’ll learn about: The different kinds of remote work. Which staff are best suited to working remotely. What remote employees need to stay productive. How remote work might shape our cities. What the future holds for the traditional office. And MUCH more.

Could you boost your commercial property returns by doing a better job of communicating with stakeholders? For example, planners, potential tenants and potential buyers. If so, tune into my interview with public relations expert, Penny Norton. Penny is the editor of a new book called ‘Promoting Property’. The book explains what PR is. And how it can be used to extract more value from commercial real estate (and other property-related activities). For example, there are whole chapters on mixed-use developments, student housing, office and retail. Listen to our conversation now and you’ll learn: Which parts of the property world are using PR. How property PR has developed a wide range of specialisms. The relative benefits of hiring specialists and generalists. And MUCH more.