“I didn’t know I was supposed to use a broker when I leased my first office space,” said a client. We connected because he found himself in lease trouble. The space turned out to be unsustainable, and he needed to find a better fit. Upon signing, he didn’t know what he didn’t know, which led to an entangled mess. He's a perfect example of why you need a broker when making a CRE deal. Keep these five things in mind and spread the word if you hear someone talking about entering

I remember the feeling when I stepped through the threshold of my first CRE investment property. It smelled of pizza––lingering remnants from the Vescio family dishing up Italian food to U of M students for over 60 years. In 2018, they closed their iconic Dinkytown business and sold the building. There was something about owning a piece of history, and it was fitting that my first property had to do with pizza. I often think investing is like a pizza. Here’s why: 1. Hot

Last weekend, my wife, Josie, and I took our son, Levi, to Lutsen for a short ski trip. (It was beautiful, and I love my family 😀) Skiing requires balance and knowing how to distribute your weight––otherwise you fall on your butt. As a business owner, investor, and managing partner, I sometimes need to get out of town with my family and relax. Still, I can’t always silence my phone. I know I’m not alone. Putting most of my weight into my business is easy for me. I love what

At CEG, we know space. We’re not just knowledgeable and approachable – we’re creative, too (#5 may surprise you 😉). And that creativity carries over to how we approach deals. Our goal is to get the right spaces and the best deals for our clients’ business. Our first step in finding that perfect space is getting to know our clients, understanding their needs and developing a connection. We become a guide to show them how to get the perfect fit. Sometimes deals are straight fo

Brokers know brokers. Sometimes people have the perception that we’re adversaries. That’s not my experience, and that surprises some. Here’s my take on what it’s really like amongst brokers in the Twin Cities market: 1. We talk. Commercial real estate is a relationship-oriented business. It’s how we get deals done. So there’s no doubt, after many years in the business, like-minded people form friendships or at least have a strong working connection. 2. We want what’s

Commercial Equities Group (CEG) is one of the small companies that make up 99.5% of businesses in Minnesota and employ 1.3 million people––46.2% of employees statewide. We’re a boutique brokerage, and we like it that way. We like being unique. But being small means we have to be creative in how we break through in the digital world. We don’t have a huge marketing budget to dominate pay-to-play social media feeds and Google searches. So, it got me thinking, what are the best w

As a brokerage, we’ve been busy listing new properties while leasing and closing on others. As landlords and tenants, many are heading into new leases or wrapping up current ones. Change is a constant in commercial real estate. There are things property owners can do to make the transition from one tenant to the next seamless. This alleviates stress on all sides, saving YOUR time and YOUR money. Here are my five recommendations to make it easy: 1. Prepare yourself. Talk

I know my body is getting older. The back pain, shoulder pain, and more gray hair make it very clear (AIRBORNE ALL THE WAY! 🪂🤷🏻‍♂️). Minnesota born and raised, my aging doesn’t only impact my life and family. In our state, only 60% of people born in the US are of working age (18-64) compared to 81% of people born outside of the US. I’ve met many clients and friends – originally from countries around the world – that are coming to our state to work. They keep our economy go

I’ve mentioned before that I love to learn new things. I’m drawn to things that are unique – well, at least unique to me. From the types of adventures and travels to the people I meet, this quest to understand more of the world, learn from its varied people, and overcome challenges also overflows into my CRE deals. I like those deals with interesting clients or have particularly complicated components. I enjoy figuring things out and making deals work. When I joined the Army

This week, a long-time friend’s wife asked me if I read every day. I do. Not only do I read to my son Levi every night, but I also read books and blogs as well as listen to podcasts and watch informational videos on YouTube. I read and continue to learn to be a better dad, husband, friend, and professional. I’m building a business and making deals happen. I get my fuel from learning, reflecting, and having new adventures. I watched a YouTube video that I loved (it’s visual, a

It used to be that if a new tenant requested carpet and paint changes before moving in, you could assume landlords would pretty much cover the request (within certain asking rates). They – especially institutional owners/landlords – would provide approximate leasing rates ahead of time and hold to them, if only making a few space modifications. But today, with construction costs continuing to increase over the years, even simple requests for new carpet and paint are tough to

It continues to be a seller’s market. Properties under a million in the Twin Cities are hard to find and when you do, they're going fast. That’s especially true for industrial commercial properties. It’s important to have your timing right and know how to strike when the iron’s hot. Here are my five recommendations to help your strike: 1. Get a broker. Not just any broker, you want the right broker. You want one that has current market knowledge and experience in handlin

Defeat is optional. On a walk this week, I was thinking about challenges as a common thread in my early life. Nothing was ever given to me, so I worked extremely hard and developed grit and hustle. I learned at a young age about struggles and obstacles, so “figure it out” became my mantra. When I was nine, I had a paper route. The papers got delivered – by me 🙂 – even in the rain, wind, and snow. In the Army, I was in a logistics branch. We had to make things work because pe

I was meeting with a client last week who was curious about the CEG team. As the owner, I’m the leader and the face of the brokerage and investment side of things, but I couldn’t get it done without my team. Well, I could, but I’d probably have more gray hair and my family would miss me. 😉 So, I thought I’d use this week’s blog to introduce my awesome team.. Like the space station, it takes a team to make it all work. Here are the four people who help me get deals done: Anne

Of course, what you know is also important, but humans are social. Building a network is critical in any professional field. Networking takes patience, because often the ROI can be slow going. You have to be in it for the long run and the right reasons – people usually know when you’re not. So, if it’s a long game, who should be on your team? As a broker, my clients come from many different industries and cultures – from startups to property owners and lawyers and doctors to

It’s a seller’s market, especially when it comes to industrial properties. Currently, I’m representing clients that have multiple offers on their properties. It’s a lot to sort through, and every broker wants to help the seller pick the best one. So, how do you get the right deal under contract? How do you find the deal where the stars align? Although a seller’s priority is to make the most money possible, sometimes the highest offer isn’t always the best. Here are five addit

I had a conversation with a small group after my BNI meeting Wednesday that I thought I’d use as this week’s blog topic. When one of my business mentors first suggested I start a blog, I was very hesitant. Honestly, I was a little fearful of people’s reactions., specifically my fellow colleagues. But after some thought, I came around to it as I decided it was more important for me to do it, than not. I needed to put myself out there and let the words flow, so we launched the

Years ago, a buddy of mine sent me of a photo of an astronaut on the moon, a bottle in hand, kicking back with his feet on a cooler, and the Earth on the horizon. He suggested I use it for marketing, and the taglines “Jeff knows space” and “We know space" followed. If you’ve ever looked up space in the dictionary, you will notice there are many definitions. After reading them all, here are five that show how CEG knows and uses “space.” 1. “An area of business in which a

Sunday is the first day of spring, and I’m ready. Spring offers a chance to look at our surroundings with a fresh eye. I know we probably haven’t seen our last snow – we live in Minnesota after all. But it’s the time to look at your property with a critical eye. Does it make a good first impression? Properties that look attractive from the street can greatly increase their value, both the market price and how people perceive the businesses and property management. To make the

Is it the right deal for you? The first step in deciding on a CRE investment property is to compare what it offers to your strategies. Are you focusing on quick cash flow or looking long-term to build wealth? Does the property fit? One way to see if a property aligns with your strategies is to look at the numbers. When an investor calls a deal “good”, they usually mean the property will generate a strong return. Net operating income (NOI) helps determine cash-on-cash return,