Description

In this episode of Commercial Real Estate Talk, Steve and Arnie interview John McNellis, Partner at McNellis Partners, an owner, investor and developer of shopping centers, mainly in Northern California. This is a follow up interview to the show we taped in May 2023, where we discussed John's start in the business, his noteworthy deals and properties, highlights over the years and the state of the market then. In this new episode, we discuss: - McNellis Partners' current portfolio in terms of size, number and types of properties and geographic areas. - His thoughts on the business climate now. - Transactions since May 2023 including an acquisition of a retail center in Orange, CA and a piece of land in Clovis, CA which will be developed into a Chick-Fil-A - Challenges of developing in CA today and why the ground lease deal works so well - Where rental rates and vacancies have moved in general and in his portfolio - Challenges of owning properties with regard to costs, insurance, and government red tape - Views on trying to reinvigorate the downtowns in CA - His thoughts on office to multifamily conversions - the exciting fiction novel he wrote called Scout's Honor Thank you, John for sharing all of this valuable knowledge with our audience. If you have an interest in being a guest or a sponsor, or have any comments about the show, please contact Steve Bloom at sbloom@rentv.com. SB