Commercial Property Executive

Welcome back to Sustainability Street, CPE’s podcast on the intersection of commercial real estate and the world we live in.Smart buildings have gotten really smart. In this episode, R-Zero Chairperson & CEO Jennifer Nuckles and I chat about how intelligent buildings have moved from advisory to actual operational control at a time when property owners are hyper-focused on improving NOI.Today, intelligent, self-optimizing properties can automatically lower owners’ energy costs along with their carbon footprints. According to Nuckles, AI-powered building management systems have enabled energy to transition from “a fixed unavoidable expense to a controllable material driver of operating expense and valuation.”These systems are also facilitating sustainability’s shift from an externally motivated activity to a line item with direct profit and loss and valuation consequences. “Sustainability initiatives are now indistinguishable from margin expansion initiatives, and the office of the CFO is really paying attention," Nuckles noted.Here are some highlights from our conversation:(01:27) Nuckle’s sustainability journey(04:07) Energy costs and dynamic buildings(06:04) Doing the math on smart buildings(08:25) From static to real time(10:15) Sustainability and smart buildings(13:45) Why your data layer is so important(15:47) Optimizing current assets over building new(17:55) Cutting the cost of regulatory compliance(19:49) How office and industrial are converging(21:18) The next frontier in intelligent buildings(22:02) More resources on technology trends

Welcome back to Sustainability Street. CPE's podcast on the intersection of commercial real estate and the world we live in.Not so long ago, addressing embodied carbon in construction project was thought to be cost prohibitive. Increasingly, that is not the case.My guests for this episode, are Rebecca Esau, a manager with the Rocky Mountain Institute's Carbon-Free Buildings Program, and Tolga Tutar, senior sustainability director with Skanska. We discuss a report they've co-authored that demonstrates how developers are lowering embodied carbon cost effectively through early planning, available tools and more efficient materials. And we talk about how new developments in technology, circularity and carbon-storing bio-based materials will improve the business case for low-carbon buildings.Here are some highlights from our conversation:(1:54) Zeroing in on embodied carbon(5:23) Embodied carbon then and now(12:17) Proving the case for cost parity(20:26) Mass timber delivers savings(22:02) New life for old buildings(23:01) Elevating the bid leveling process(27:36) The importance of early planning(34:39) The next frontier in reducing embodied carbon(41:03) For more information…Follow, rate and review CPE’s podcasts on Spotify and Apple Podcasts, and don’t forget to subscribe to CPE’s YouTube channel!

Sandy Sigal was a technology whiz kid long before it was cool. He was just 20 when his precocious skills earned him an invitation to modernize the accounting department for a homebuilding company.It wasn’t too long before he discovered that that he had a knack for real estate as well as for programming, and by the time he was 21, he was building his first retail center.Since founding NewMark Merrill in 1997, Sigal has become a prolific investor, developer and manager of retail centers, with holdings that encompass more than 100 properties valued at $3 billion. More than 40 years into his real estate career, he still fosters technological innovations in the NewMark Merrill portfolio as well as through a venture that enables retail stakeholders to integrate online and social platforms with brick and mortar.In this episode, our conversation ranges from the importance of community engagement for retail operators to AI and impact of economic trends that are impacting the sector. Sigal also takes us inside his commitments to the nonprofits that are closest to heart—among them, the camp for underserved kids that he says changed his life. Follow, rate and review CPE’s podcasts on Spotify and Apple Podcasts, and don’t forget to subscribe to CPE’s recently relaunched YouTube channel!

At a time when capital markets remain volatile and fundamentals continue to shift, property appraisals are no longer a straightforward exercise. In this episode of FTI Experts’ Hub, Commercial Property Executive Senior Editor Laura Valean sits down with Mark Dunec, co-leader of Real Estate Valuation Services at FTI Consulting, to unpack a common challenge in today’s commercial real estate market: diverging property valuations. While differences in appraisals are often most visible in litigation settings, they can also stem from deeper issues, ranging from inconsistent assumptions and flawed methodologies to a fundamental misunderstanding of the valuation problem itself, according to Dunec. If you’re a CRE professional navigating refinancing, acquisitions or asset management decisions, this episode will offer you a timely and practical look at how valuations are being formed today, and how to avoid costly surprises in an increasingly complex environment.

As the flexible office sector continues to evolve, hospitality, service quality and disciplined growth have become its backbone. That’s exactly the approach Quest Workspaces has been following since 2010, when CEO Laura Kozelouzek founded the company. Now, she operates 14 locations in Florida and New York and has expanded the company’s portfolio to 310,000 square feet of premium space, mostly in Miami.As we celebrate Women’s History Month, Senior Associate Editor Olivia Bunescu invited Kozelouzek to share her experience in the field. In this episode, she reflects on her early path into the business, the lessons she learned building a company around service and client experience and the realities of growing a flex office brand in a competitive market.From leadership lessons and common mistakes to company culture and market discipline, the episode offers a closer look at the strategy behind one of the region’s longstanding workspace operators. Kozelouzek also shares how she stayed true to a hospitality-first model, why adaptability remains a must and her outlook for Miami’s flexible office sector.Here’s what they discussed:Laura’s early journey in flexible workspaces and hospitality (01:24)Building a company around people and service—not just space (02:35)What surprised her about the flex office industry early on (07:00)What being a woman-owned company has meant in practice (09:00)Balancing charisma with clarity (11:25)How she scaled Quest Workspaces—adding process and data without losing hospitality (13:35)Why adaptability matters in South Florida coworking (19:15)The market challenge she sees most: undisciplined growth (25:15)What “premium” means in Miami today (26:30)Her outlook for Miami office demand, from Brickell to downtown (31:00)

Lisa Pendergast leads one of the industry’s most influential organizations and is a top capital markets analyst to boot, but she discovered her professional passion almost by accident. An English major with her eye on law school, she was hired as a writer by a major institutional investor. The opportunity to learn the finance business from brilliant minds proved to be, as she puts it, “the cheapest MBA anybody ever got.”Fast forward a few decades, and Pendergast serves as president & CEO of Commercial Real Estate Finance Council. Before taking on her current role, she was a member of the organization’s Board of Governors and served as its 2010-2011 president. She’s held senior positions at Jeffries LLC, an affiliate of Leucadia National Corporation, as well as the Royal Bank of Scotland.In this conversation, she shares takeaways from the organization’s recent national conference in Miami, describing the event’s upbeat mood. She reveals insights from CREFC’s latest national sentiment survey, and discusses why this ellwether indicator is approaching its record high. Also during this podcast, Pendergast discusses today’s key policy issues and how CREFC is informing regulators about the issues that hamper the industry. As one of the top securitization experts in the business, she gives us her take on the state of CMBS and CLOs.In this conversation, she shares takeaways from the organization’s recent national conference in Miami, describing the event’s upbeat mood. She reveals insights from CREFC’s latest national sentiment survey, and discusses why this bellwether indicator is approaching its record high. Also during this podcast, Pendergast discusses today’s key policy issues and how CREFC is informing regulators about the issues that hamper the industry. As one of the top securitization experts in the business, she gives us her take on the state of CMBS and CLOs. Take a listen!Episode highlights:(1:05) Top takeaways from Miami(3:27) Asset performance insights(5:51) Maturities and the Fed’s next moves(8:09) Taking the pulse of CRE finance(11:38) Economic indicators to watch(13:04) Office-to-resi conversions: NYC and beyond(17:17) “The cheapest MBA anybody ever got”(22:09) CLOS on the rise(24:51) CMBS and federal policy(29:45) Navigating regulator relations(34:03) New path for the GSEs?(36:55) How the GSEs can address affordability(38:10) Executive off the clock: the garden and the links

Over the past five years, it’s been a real rocket ship ride in the U.S. for Mapletree Investments. That’s the apt description of Rich Prokup, who leads US operations for the Singapore-based firm and is the guest on this episode. Under Prokup’s leadership, Mapletree has become one of the industrial sector’s fastest-growing, most prolific investors and developers. In just a few short years, the company has created a U.S. footprint that now encompasses five offices, 150 team members and half a billion dollars of product in development.In this conversation, Prokup tells why the company is focusing on development in 2026, and what will be driving leasing demand. He outlines the biggest challenges that owners and their clients will face. Prokup is also an accomplished musician, and that seems to reveal what appeals to him most about his profession. As he puts it: “Real estate is a very creative business. You’re not spending time focusing on how to save a half a penny on 10 million widgets.” Take a listen.

As the daughter of a Washington, D.C.–based real estate private equity executive, Hilary Provinse grew up around the industry, but her early career on a ‘90s Wall Street trading floor shaped her resilience and sharpened her leadership instincts. Today, as executive vice president and head of mortgage banking at Berkadia, she manages a 400-person capital markets team spanning mortgage banking and investment sales.Provinse is a 2018 CREW Network Distinguished Leader and Berkadia is a CREW Network Gold Level Partner. Commercial Property Executive Senior Editor Laura Valean invited her on the CREW Up podcast for a candid conversation about leadership, career evolution and women’s progress in commercial real estate. Navigating today’s reset in financing values, she reflects on the importance of understanding people’s strengths, building diverse teams and meeting clients where they are.

On January 1, 2026, Jim Taylor will officially retire asCEO of Brixmor Property Group. In this conversation, recorded before his retirement was announced this fall, Taylor reflects on his long and eclectic journey in the industry. Over the past couple of decades, he’s traveled what he jokinglydescribes as “a checkered path” that ultimately led to the C-suite at Brixmor. Before becoming a real estate executive, he was anaccountant, earned a law degree and worked as an investment banker. Taylor’s service to the industry also includes leadership roles in several industryorganizations. He’s been a member of Nareit’sexecutive board and he was the 2024 chairman of ICSC. During his decade as Brixmor’s CEO, Jim Taylor has overseenan extensive program of reinvestment in the REIT’s 63-property, 354 million-square feet portfolio of open-air centers. As of the third quarter this year, Brixmor’s pipeline of property upgrades encompassed 375 million dollars’worth of enhancements across 35 properties. In this conversation, Taylor discusses the factors that aredriving growth for open-air centers, how the capital markets view the asset category, Brixmor’s strategy of reinvestment and more. Take a listen.Episode highlights:· (1:47) A “checkered path” to the REIT C-suite· (4:44) The No. 1 factor in company success· (6:01) Topline trends in open-air centers· (7:27) Inside Brixmor’s investment strategy· (9:43) Adding value: works in progress· (11:37) Disciplined capital allocation· (13:00) Creating critical portfolio mass· (14:44) An “unprecedented breadth” of tenantdemand· (16:18) Why it’s competitive out there foracquisitions· (18:37) Lenders open the gates· (19:29) Growth trajectory: 2026 and beyond

Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in.Last week, I attended the Greenbuild conference in Los Angeles where I got to sit down with Rhiannon Jacobsen, managing director of market transformation & development for the U.S. Green Building Council, which hosts the global sustainability event.If you don't know, Greenbuild is an annual conference that draws thousands of executives from around the globe to talk about making buildings and communities more sustainable. Building resilience was a big focus for this year's program, but so was decarbonization, energy efficiency, the circular economy, wellbeing in buildings, the increasing role of data and so much more.Jacobsen and I talked about the overall theme of the conference "Better Buildings, Better Futures," about the new LEED v5 and about how U.S. sustainability is faring now that the federal government has rolled back support. "We see incredible work happening at the city, at the state, at the county level," she told me. "We're going to continue to encourage that, and, of course, we're going to be available to speak with and support federal initiatives."You can find other highlights from our conversation here:(1:10) The buzz at Greenbuild(1:52) "Better Buildings, Better Futures"(2:26) Green innovation(3:46) Getting to know LEED v5(6:27) States and cities lead the way(8:26) Big takeaways

Welcome back to Sustainability Street, our podcast on the intersection of commercial real estate and the world we live in. For this episode, I'm going inside CRE's power predicament: The U.S. power grid is having a hard time keeping up with ever-increasing demands for power from industrial users and and rapidly expanding data center providers. My guests for this episode are Josephine Tucker, Americas head of energy and sustainability for JLL, and Meaghan Elwell, global president of JLL’s industrials business within Work Dynamics. Tucker and Elwell break down the causes of the supply and demand imbalances and the widespread repercussions. They also highlight the innovation that this situation has sparked."Right now, what we see is only about 2 percent of land that is industrial zoned is actually ready—build ready with power and utilities already there," Elwell said. "And then on top of that, if the power isn't there, it can take up to six years."Here are some of the topics we covered:(3:35) Why energy needs are surging(7:18) Power is the new real estate(9:11) Power, place and people(11:33) Data centers vs. everyone else(14:09) The role of renewables(17:23) Real demand vs. future demand(24:59) Collaboration is the key(27:26) Creative solutions

Alison Beddard has a degree in nutrition and dietetics, and was always encouraged by her family to go into the sciences field. But everyone kept telling her she would be great in sales, so she gave it a try and took on a brokerage job. And for three years, she only grew. Then the Great Financial Crisis of 2008 hit, and she lost everything she had built. That’s when she found CREW Seattle—right when she was looking for support and guidance to broaden her professional network.Get to know Beddard, CREW Network's new CEO, by listening to her conversation with CPE Senior Editor Laura Valean!