Seth Lacey | Pennsylvania Retail CRE
@SethLaceyCRE
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#ColliersRetail Sales | Leasing | Developments | Investments đź“Ť Pennsylvania
Allentown, PA
Joined January 2020
Enough of these multi-family accounts, where’s the retail only accounts!? @ your favorite retail real estate account. I’ll start off with the first one.
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Want to stand out from your competition in CRE? Do these 4 simple tasks. • Answer the phone • Respond back to emails • Be nice/respectful • Give detailed feedback
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You can’t listen to this song without immediately being put in a good mood. Go 🦅 @LilTunechi
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Sometimes the old fashion way is the best. Sending an LOI proposal to the owner of an off-market site via the good’ol pony express. 🤞🏻
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On the surface, there are too many layers to a deal and how they are structured. AI might be helpful in determining an initial value, but various aspects still require a human touch to uncover. For example, AI might be useful in identifying the rate a QSR paid for a ground lease on a vacant pad. However, it wouldn’t know how that pad was delivered to the tenant to justify that rate. Perhaps the landlord delivered an approved and partially improved site that cost x and amortized over x years. This could result in a value exceeding the market rate. Determining the true value isn’t always black and white. This type of information is often impossible to discover unless you have direct knowledge of the deal. 98% of this information is never public knowledge. Residential, on the other hand, might be a bit different since it’s typically more straightforward and transparent.
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It’s wild how many deals happen because you are in the right place at the right time. The earth aligns in some crazy ways.
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