Jack Hayes
@JackHayesSH
Commercial Real Estate Entrepreneur. Retail. Hospitality. Mixed-use.
More about me: - I lease shopping centers in New England & NY - I represent tenants expanding in New England & NY - My partners and I develop retail properties in northeast - single tenant and multi tenant strip centers - We are buying value add retail in Northeast
I’ve seen investors buy shopping centers for a good basis thinking they could create significant value by filling vacancy But they don’t actually do anything to the property I guess they’re making more calls and trying harder on leasing? Hired the best property manager? But…
I’ve recently learned from a few young parents in my life that Barnes & Noble has become one of their favorite places to shop for children’s toys and birthday gifts. “It’s one of the best selections around.” Stopped by Barnes to check it out myself. They were right. Robust…
Game plan for singles and doubles, and you’ll hit a few home runs along the way
Things I believe about retail properties: 1. Price isn't the most important purchase criteria 2. Locations can get worse with time 3. Good things happen to good properties 4. Really really rich areas are the best places to own 5. Low ceilings are expensive 6. Prominent…
Basis PSF is only important relative to what it’s going to rent for PSF. Nothing more important in commercial real estate than leasing space.
How many times per day is “yada yada” used in one of your conversations?
Public Service Announcement: Get out and drive markets on a regular basis. I live on google maps and gis, looking for ideas and cold calling owners - but you’re making your life way harder by not driving thru the market regularly. You’re missing a lot of opportunities. Not…
Any ever notice how many @FiveGuys there are in London? These things are everywhere.
Targeted improvements drive leasing. Leasing drives traffic. Traffic drives sales. Sales drives rents, and more leasing. Better tenants drives more traffic. Higher traffic, higher sales. Higher sales, more tenants. More tenants higher rents…
A lot of people talk about being broker friendly because it sounds good, and they want to incentivize deals … I’d say we end up arguing over fees on 80% of our deals. 20% are ACTUALLY broker friendly.
Ring might be the hottest social media company out there right now.
What you DON’T DO is often just as important as what you do. I’ve found this is consistently top of mind for many of the most successful real estate developers.
“Do not make any small plans, because they cannot inspire the soul” - John D. Rockefeller
One of the most creative CRE deals I’ve ever heard of: A developer I know bought up a few run down houses and 3 families near his beach house. He assembled them thinking it would make for a good retail development site. He ends up with an opportunity to lease one of the…
Imagine being able to buy value add, small unanchored strip centers for 9s and 10 caps for the last 30 years? Until recently that’s what the business was like. Very little competition. Buy for $150 PSF, fix for $50 PSF, rent for $25 PSF NNN. Sell or refi for $330 PSF. I know…
