written by
Steve Gildred

Helpful Tips to Become a Skilled Networking Professional

When it comes to networking, commercial real estate is no different than any other industry; the better you take care of your network, the better your network takes care of you. While the brokerage side of the business may seem like an individual operation, you’re only as strong as your network and networking is a craft that requires patience and dedication to fully master. The following are just a few helpful tips and suggestions to help you become a premier networker in commercial real estate:

Play Your Cards Right

As a broker, you find yourself on the go often. Since you never know when you might stumble across your next client, it’s an absolute must to have your business card handy at all times. Just as important as handing out business cards, however, is taking them. A card given puts you on someone’s radar but a card taken gives you the power to initiate a relationship. To properly maximize your business card collection, it’s important to log every new entry into a database of contacts that can be tracked and monitored. Next, you must create a plan for when and how you intend to initiate contact. Last but not least, be mindful of timing; each new contact carries with it a limited window of opportunity, and business cards have a propensity to stack up on your desk if you’re not proactive with them.  

Invest in Your Network

The greatest gift you can give someone is your time and nobody is more keenly aware of this concept than a premier networker. Relationships are not born from the mere initiation of contact but by logging meaningful time and establishing a genuine connection. This may sound simple enough but it becomes infinitely more complex the larger your network grows. As a result, prioritizing relationships is critical as one only has so much time to offer and must be cautious about which relationships to allocate your time towards. The balance of maintaining old relationships while developing new ones is a careful song and dance that requires a strong sense of priorities and self-awareness. 

Establish Yourself in the Local Community

A great way to expand your professional network is by attending local networking organizations such as the Commercial Real Estate Alliance (CRA), Building Owners and Managers Association (BOMA), and National Association for Industrial and Office Parks (NAIOP). These organizations typically meet monthly and will provide you with exposure to other local professionals and business owners. In order to maximize your affiliations and create a consistent presence within these organizations, it’s important to attend as many networking events as possible. This is especially true of your initial years as a new member of the organization.

Have Fun

Whether you’re exchanging business cards, cultivating close relationships, or mingling at networking events, remember to always have fun with it. At its core, networking is designed to be a uniquely rewarding experience and should be taken as such. The more people you can plug into your network that you genuinely enjoy, the more satisfying your experience will become. At some point, networking will stop feeling like work altogether as it eventually becomes second nature. And that’s when the real fun begins because, in the famous words of Mark Twain, if you can “find a job you enjoy doing, you will never have to work a day in your life”

To discuss networking strategy in more detail or if you would like more information about Intersection, please reach out to Steve Gildred at [email protected]

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Natalie Baylon

Freestanding industrial building closes for $7,515,500 in Carlsbad 

Intersection Senior Director, Henry Zahner represented the seller in the sale of the North County freestanding industrial building for $7,515,000. The 42,260 square-foot property consists of vast warehouse space that has been immaculately kept.

The facility was previously occupied by Newport Blue, Skivia Graphics, and other top manufacturers. Today, the facility located at 2258 Rutherford Rd. in Carlsbad CA, is the future home to the new owner-user who has business interests that will occupy the facility and compliment the surrounding area.

The property’s location within the Carlsbad Research Center in coastal North County is a current ‘hot market’ for Biotech and Life Science sectors where many competing properties have been snapped up in recent months. Both the seller and buyer couldn’t have been happier with the outcome with both a competitive price point and an easy close.

For more information on this deal or if you would like to discuss Intersection representation further, please reach out to Henry Zahner at 760-889-7943 or [email protected].

Autumn Valencia is the Marketing Coordinator at Intersection, providing strategic marketing expertise to support business objectives across company divisions. For general and marketing inquiries, please contact Autumn at [email protected] 

written by
Dan Leon

The Second Acquisition in a Portfolio Delivering Strong Cash Flow for Investors

CARLSBAD, Calif. – San Diego based commercial real estate management and investment advisory firm Intersection announced the closing of escrow on La Place Court in Carlsbad on Feb. 12, 2020.  The office property is the second procured by the company for the Intersection Diversified Value Fund (IDVF), which provides investors with a portfolio of properties that have in-place cash flow and high potential for appreciation.

La Place Court offers 81,965 square feet of office space on a 4.58-acre campus with two office buildings.  Historically, the property has maintained a high occupancy, and as of closing, 90% of the property is leased.

Intersection acquired La Place Court from Swift Real Estate Partners, represented by Louay Alsadek, for approximately $15.8 million.  Financing was completed by CBRE Capital Markets team Bill Chiles and Scott Peterson.

La Place Court is the second property in the IDVF, which is targeted to acquire $60 million in properties with approximately $25 million in equity according to Intersection Director of Acquisitions Dan Leon.  The fund’s other property is Oberlin Court in Sorrento Mesa, which was acquired in May 2019.

“We feel that the risk adjusted returns for this product type are solid, especially given the continued strength of the Carlsbad submarket as indicated by increasing tenant demand from the technology sector, improving workforce talent, and strong demographics,” Leon said.

With this acquisition, Intersection officially plants their flag in Carlsbad, with plans to be a tenant of La Place Court providing on site brokerage and management services.

“Having ownership on site enhances the value of the property for investors,” said Intersection Senior Director Henry Zahner, who represented Intersection in the sale.

“By having a presence at La Place Court, we’ll be in a unique position to familiarize ourselves with both the property and its tenants,” said Zahner.  “Furthermore, we will gain valuable insights in leasing remaining space.”

Leon added, “Being on site is all about the delivery of best-in-class service.  It means being there for our tenants.” 

Quality of service is a hallmark for Intersection, which is led by Rocco Cortese and Mark Hoekstra.  With more than 60 years of experience in the real estate industry, Cortese and Hoekstra have built a customer-focused team that is providing investment, brokerage, and management Concierge services in the commercial real estate industry.

With this focus in mind, Intersection plans to modernize the property by integrating a seamless connectivity between indoor and outdoor working environments.  Leon says this will create an innovative atmosphere at La Place Court, attracting a cohesive tenant mix that lays the groundwork for collaborative opportunities among tenants.

La Place Court promises to be a truly unique work setting that already offers tenants convenience and high-end amenities.  Located in the prestigious Carlsbad Research Center, the facility boasts exceptional access to Interstate 5 and Highway 78.  With the McClellan-Palomar Airport less than one mile away and being centrally located between San Diego and Orange County, the property provides an ideal hub for doing business in Southern California.

“By acquiring a high-end asset at below replacement cost, we’re providing investors with a portfolio that enhances short and long-term appreciation,” Leon said.

Opportunities to invest with Intersection will remain through 2020 as the team continues to secure properties and raise capital for the IDVF. Inquiries about the fund or investing can be sent via email to [email protected].

Dan Leon is the Director of Acquisitions, managing the performance of the funds and investments sponsored by Intersection. Contact Dan at 619-541-6070 or [email protected]

Read More Insights

Insights

Intersection. A Company Driven By Integrity.

Read Article

Insights

Crowd Funding-2.0 Is the JOBS Act starting to take hold?

Read Article