Wednesday Q & A – Paul Neal
Paul began his career in Industrial Real Estate Sales & Leasing in 1989 and is consistently a leading producer in Kansas City , completing over $150,000,000 worth of transactions representing over 15 million square feet during his tenure. Paul is one of the leading brokers in volume and square footage over the last several years. Paul carries the SIOR and CCIM designations and has more than 15 years of experience in the brokerage business in Kansas City . Paul earned his CCIM degree in 1995 and is Past President of the Kansas City chapter of CCIM. Paul is also a member of the Missouri Association of Realtors and the National Association of Realtors Million Dollar Clubs. Paul attended Rockhurst Jesuit High School and graduated from the University of Missouri-Columbia in 1986 with a BA in Economics.
What’s new at Grindstone Industrial?
Grindstone has had a good run this fall. I am seeing strong activity in the larger “ A” buildings. Grindstone is doing a lot of work helping building owners overcome financial and economic hardships.
What are the advantages to operating a small, highly specialized firm like Grindstone as opposed to affiliating with a larger, national firm?
The advantages of clients working with Grindstone are significant. What is best for our clients is Grindstone’s focus. Not what HQ in New York or St Louis think is best for HQ. I’m not feeding a machine and I can invest in making sure my clients properties get leased and sold. I answer to my customer and my customer only-what they say goes.
How would you describe the current state of Kansas City Industrial Real Estate?
Opportunity . Yes, the economy is making it a challenge. Landlords and Sellers have to invest in the presentation of their properties. Pricing is more important than in the past. Tenants with good industrial agents have an advantage. I’ll never buy into doom and gloom. When the sky is falling it always rains money for the people who get up early and work hard building buckets.
In what ways do you anticipate the Kansas City industrial market changing over the next 10 years?
Crystal Ball-financing and re-financing will be tough. There will be a lot of opportunities for buyers to purchase great value. Owners with financing will be able to invest in improvements, and commissions, and have an advantage. Development will be slow for 3-4 years but like always will overcompensate after that. If the government enacts any union vote, cap and trade, or health care mandates, the recovery could take significantly longer.
In what ways do you anticipate the brokerage business changing over the next 10 years?
The technology, the economy, and the cost of overhead will motivate even more brokers to be entrepreneurial. I’m building a business that has value. If any good brokers are interested, let’s talk.
We understand you’re an excellent the musician, what type of instruments do you practice and what is your favorite type of music to play?
“Practice” is the key word here. I can fake my way on the guitar and keyboards. I like playing mandolin and the banjo. It’s hard to pin down a favorite. I’ve always been a fan of great classic songwriters like Dylan or Neil Young. Or more obscure artists like Tom Waits. My favorite music these days is the alt-whatever. Bands like Wilco or Ryan Adams.