Michael Ablon is a principal of PegasusAblon, a commercial real estate development, investment and management company. He provides the vision, know-how, and discerning strategies in achieving the company’s specialty— recognizing emerging, undervalued, and overlooked real estate opportunities. PegasusAblon is a Dallas-based real estate investment and services company with expertise in office, retail, and multifamily properties. Ablon previously held executive posts at The Retail Connection, Cousins Properties, Carr-America, and Hillwood.
The Echo Boomers are addicted to ever-evolving technology that changes every two years, and often even more frequently. So how do you develop space targeted toward this generation when your project must stand for 30 years?
When looking at a transaction, it’s smart to anticipate all the points of contact, and to project forward as to whether one has the capacity to have, say, three of five or four of the points of contact understood and achievable prior to commencing a pursuit. Without this certainty before leaving the starting gate, it’s highly unlikely that you’ll have the capacity in a highly competitive environment to win a transaction.
In the 1980's, while Europe was building new assets, Americans developed the most inexpensive and disposable real estate that could be financed. Then came the next great run in the 1990's and the 2000's, when developers discovered how to build for Wall Street proformas. Now, after the Great Recession, the bet is on as to what will come next.