Pershing Capital is a real estate investment, development and advisory firm with a focus on single tenant and multi-tenant retail assets with E-commerce and recession resistant tenant bases. Today, you'll listen as Chris interviews Edward about his deep dive into the retail sector of real estate. Edward will describe what retail has looked like over the last decade, how retailers have had to adjust during the pandemic and what opportunities lie ahead for the industry. Enjoy!
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01:45 — Edward’s Background and Career with Trademark Property Company & Pershing Capital
11:56 — When did you start getting ‘scared’ that e-commerce was becoming a thing?
13:39 — How do you create the mouse-trap of finding retailers to lease spaces?
15:16 — What is the timeline of pulling together a huge retail development?
15:57 — Why did you start Pershing Capital?
17:09 — What was your first deal at Pershing?
17:56 — What does the advisory side of the business look like?
18:45 — Do you outsource development?
19:30 — Why are certain aspects of development getting harder?
23:03 — What is going on in retail since COVID hit?
25:34 — How have tenants responded to the pandemic?
27:03 — Edward's Thoughts on the Mall Business
31:09 — Why should e-commerce companies like Amazon also become brick & mortar businesses?
33:54 — Who is putting the majority of the investment into these properties for retail projects?
36:52 — What is a 'co-tenancy clause' and how do you feel about it?
41:07 — Have we discovered what our ‘sweet spot’ cost is for retail space per square foot?
41:47 — What is the zoning like to re-position these developments for a totally different use?
44:33 — Is there a time horizon that shows decreasing prices for retail spaces?
46:15 — Can a retail project be financed right now?
48:59 — If a real estate opportunity presented itself, how would you go about financing it?
51:47 — How can businesses occupy these retail spaces again?
52:55 — What opportunities within retail are you excited about going forward?
53:57 — What is the best advice you have ever received?
55:46 — What advice would you give to your 21 year-old self?
The FORT is produced by Straight Up Podcasts