“Interface Recap”

Dear El Cardinale’,

I saw you at the InterFace Carolinas conference last week – I recognized you from your portrait. What did you think was interesting?

– Broker Buddy

Dear Broker Buddy,

Speaker Mark Vitner from Wells Fargo is always a favorite of mine. Not only does he have amazing insight, but he is enjoyable to listen to as well. Some of my favorite gems from his remarks are:

The Economy: He called the inverted treasury yield curve a “Millennial curve” because it is “not working”. He predicts that the economy will grow until 2021, but at a softening pace.

Trump and the Chinese: He bought a used copy of “The Art of the Deal”. He predicts that there will be a lot of posturing and fretting, then a deal with China at the last minute. He expressed an opinion that trade deals in the past have been bad for the US. While reflecting on Trump’s “crazy like a fox” approach, he shared that in Chinese the words “liar” and “crafty” are very similar!

I had to ask about China and BMW: Uncertainty about trade will dampen Greenville, S.C. growth. China is South Carolina’s No. 1 export destination. BMW exports 70 percent of its models there.

The Future of SouthPark Mall: Like Eastland Mall, it will be demolished. Unlike Eastland, it will not be a field of daisies. SouthPark will be something different – a fun shopping and entertainment destination. He sees the property as a covered land play – the value is in the parking, zoning and infrastructure. Not in the leases!

Next time you spot me out and about, be sure to come say hi. I love meeting new folks. Our call me and let’s grab some coffee.

Real estate transactions can be fraught with frustration and pitfalls.

Sometimes the hardest part turns out to be working with your broker, the person who is supposed to help you through the complexities. Veteran commercial real estate broker and client advisor John Culbertson discovered that brokers’ interests aren’t always aligned with those of their clients. He realized there was a better way to advocate for clients and get the deal done.


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