Commercial Investment Real Estate is the magazine of the CCIM Institute, the leading provider of commercial real estate education. CIRE covers market trends, current developments, and business strategies within the commercial real estate field.
Issue link: http://cire.epubxp.com/i/64804
CCIM Q&A; Experience Pays Off by Jennifer Norbut c 12 Todd P. Garrett, CCIM Commercial real estate is often a family business, and some CCIMs travel many paths before returning to their roots. "I grew up in a large commercial real estate family and some of my earliest memories are going with my dad to check on sites he was developing," says Todd P. Garrett, CCIM, vice president of investment and industrial services with Grubb & Ellis WRS in Charleston, S.C. After graduating from the Citadel, earning a master's degree in public policy from Harvard University, serving two tours in Iraq in the Marine Corps, and living in South America for a period of time, "I returned to pursue a career in brokerage just as the market started to crumble," he says. T e crumbling market was just a small bump in the road for Garrett, who closed 56 transactions in 2011, earning him the Charleston Trident Association of Realtors' 2011 Realtor of Distinction Award. Com- mercial Investment Real Estate asked Garrett to share insights on how his diverse back- ground has shaped his strategies for success. CIRE: You closed 56 transactions last year, which was still a tough market for commercial real estate. What's your strategy? Garrett: T e grace of God, focusing on my clients' needs, and being candid. As a prop- erty owner, I understand the pain commer- May | June | 2012 cial property owners are feeling. I quickly zero in on my clients' goals by asking as many questions as I can to narrow down exactly what the tenant or landlord is look- ing for. By being very candid about where the market really is — versus where they'd like it to be — clients can lease or sell more quickly or fi nd their target properties. CIRE: Charleston is gaining ground as an import/export hub. How has this affected the local industrial real estate market? Garrett: T e seaport, combined with a pro-business climate, a right-to-work state, and relatively cheap electricity and land, is driving demand for industrial space in the Charleston market. T e ship- ping industry is transitioning to larger, deeper vessels coming directly from Asia to customers on the East Coast. Charles- ton's 45-foot deep harbor already handles post-Panamax ships of more than 8,000 20-foot equivalent units, or TEUs, and it will be able to do so around the clock as we dredge to reach a depth of 50 feet. No other southeastern port will be able to match that. CIRE: How has your diverse background — you served as a Marine and also earned a master's degree at an Ivy League school — shaped your current career? Garrett: Whether leading young Marines while getting shot at in Iraq or compet- ing with some of the world's brightest at Harvard, both experiences drilled home the importance of technical competence in your fi eld, caring for those around you, and focusing on the mission at hand. T ese experiences also gave me confi dence that, despite a diffi cult market, deals can and will get done. T at has pushed me to work harder to make sure my clients are a part of those deals. Commercial Investment Real Estate