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/82355
CCIM Q&A; What opportunities are you seeing in the current offi ce sales and leasing Las Vegas Leader by Jennifer Norbut a 12 Although residential overstock and dependence on the broader U.S. economy keep Las Vegas' commercial real estate recovery at bay, some major offi ce and industrial tenants are placing their bets in the still-challenged market. What's the upside? "Las Vegas is affordable," says Ryan Martin, CCIM, vice president of Colliers International in Las Vegas, who specializes in offi ce sales and leasing. "An uptick in sales and back-offi ce uses has been a positive sign. These users tend to evaluate a number of markets when seeking their next location, and factors such as cost of living, cost of labor, and availability of labor play into the decision. The fact that Las Vegas is back into consideration is a great sign." Martin, who also serves as 2012 president of the Southern Nevada CCIM Chapter, shared more insights about what it takes to succeed in the recovering market and why members should attend the CCIM Live! fall conference, Oct. 15–16 in Las Vegas, in a recent interview with Commercial Invest- ment Real Estate. CIRE: You started and grew a new brokerage division in the early 2000s. What strategies helped you create a successful brokerage in the already- saturated Las Vegas market? Martin: I was fortunate to be part of a well- established and recognized brand, Tram- mell Crow Co. In 2002, with a successful real estate market in gear, Las Vegas was well positioned to accept another compet- ing fi rm. T ough the barriers to entry were deep, Trammell Crow's national reputa- September | October | 2012 tion provided me the tools to implement an already prosperous platform. T e backing of Trammell Crow, accompanied by a bull market, was the recipe for success. CIRE: Las Vegas' commercial real estate market is very different today. sector? Martin: A lot of factors play into a compa- ny's decision to plant its business. Sales have experienced an uptick, as many offi ce assets are currently trading for less than replace- ment costs. Companies and investors who are able to purchase have many opportuni- ties right now. But most oſt en companies are seeking cost savings. T e largest trend I see is fi rms seeking greater effi ciencies and more productivity for less money. CIRE: How has the CCIM education and network helped you serve clients? Martin: In an always-complex real estate market, I became a CCIM because it allows me to expand beyond the disciplines of bro- kerage, leasing, and development. T e edu- cation drives CCIMs to take on the role of being a strategic investment counselor. Over the years, I have assisted clients by imple- menting my CCIM knowledge to produce the maximum investment potential. Networking requires a lot of cultivating and nurturing. Aſt er returning from last year's national CCIM conference, I was directly impacted by my networking eff orts and received a call from a fellow CCIM in Taiwan who had an assignment in Las Vegas. CIRE: What do you hope to accomplish during your leadership tenure with the Southern Nevada CCIM Chapter? Martin: I earned the designation in 2006 and was elected to serve on the Southern Join Ryan Martin and other CCIMs at CCIM Live!, Oct. 15-16, for the following presentations: CCIM All-Stars: A panel of senior-level executives from some of the most active and infl uential real estate organizations discuss issues facing commercial real estate professionals today. Troubled Assets: Bankers, special servicers, and specialized brokers share what to expect and how to deal with commercial distressed assets. Commercial Financing: Learn about the "new normal" for underwriting commercial property loans and the opportunities with creative fi nancing. Go to live2012.ccim.com to register. Commercial Investment Real Estate