#252: Jon Altschuler - Founder of Altschuler + Co - Dallas Office Market Past vs. Current vs. Future & 20+ years of lessons learned
Jon Altschuler is the founder of Altschuler and Company and has been involved in all phases of the firm’s development since its founding in 2009. He started his career with Trammell Crow Company and was the president of Stream Realty Partners. Jon is the chairman of the SMU Dedman College executive board. Jon is a graduate of Southern Methodist University where he was elected Phi Beta Kappa. Jon earned his MBA from the University of California, Berkeley. On this episode, Chris and John discuss: The current state of the office market and forward-looking thoughts. Best practices for building a successful career in real estate. Future of co-working and office leases. What will happen to Class B office properties? Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Follow Chris on Twitter: www.Twitter.com/FortWorthChris Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Subscribe to The Fort on YouTube: https://www.youtube.com/channel/UCuJ32shRt8Od3MxMY-keTSQ Support our Sponsors: Frank Kent Cadillac CRE Daily Newsletter Fort Capital Links: Jon on LinkedIn Altschuler + Co. Topics: (3:18) - Introducing Jon (4:50) - What is it about Trammel Crowe that creates so many all-start caliber RE people? (6:36) - Jon’s career in RE (8:25) - What was your perspective on the GFC? (10:41) - What does Altschuler + Co. do? (11:20) - What was the narrative back in ’07 vs. ’09 from the building-owner perspective? (14:09) - How would you describe the current market for Office? (18:37) - Tech-Giant Sub-leases (20:39) - Stranded Buildings (22:26) - Do you have any insight on the mounting developer debt? (23:33) - What do you predict for development? (24:23) - What are we experiencing in DFW? (26:21) - What does a great future for Office look like? (27:11) - Are you seeing any clustering of businesses similar to Old Parkland? (28:05) - Thoughts on co-working (30:02) - What’s the difference between a great leasing agent and a terrible one? (32:47) - What should tenants with 2 years on their lease left be thinking about? (34:46) - Are there any new amenities that are making buildings more competitive? (36:08) - What markets pique your interest? (37:10) - How does your job change as the tenant gets larger? (38:57) - How are tenants thinking about risk of leasing spaces that aren’t ready? (41:05) - What are you seeing in capital markets for Office? (41:45) - What’s the narrative for Dallas? (42:49) - What would you tell new people in the industry as we stare at a potential downturn? (44:02) - Who developed your marketing strategy? (45:14) - How are you preparing your team for the next 2-3 years? (45:52) - How did you develop your knack to outwork everyone? (48:28) - Becoming a Global Citizen (55:11) - What can Fort Worth do better to attract businesses?