Search
 

Transwestern'sSteve Pumper

There was a drop-off in major transactions of about 60% from 2000 to 2001, and 2000 was not a high-water mark.

By John Salustri | Updated on January 04, 2002

To paraphrase the old song, Steven E. Pumper has seen the investment world from both sides now, in lush times and lean. The Dallas-based president of Transwestern Commercial’s Owner Advisory Services group, a 17-year industry veteran–and the most recent addition to GlobeSt.com’s Think Tank–focuses on institutional third-party services to Transwestern clients, including management, leasing, development and investments. As he points out, these times are quite unlike any other and the hurdles we are experiencing have never washed up before in the tides of previous fiscal cycles. While the economic picture seems to be picking up a bit, Pumper is at best cautiously optimistic as he surveys the concerns that face his institutional clientele, not the least of which are the “lack of deal flow and the continued gap in the bid/ask spread.” In a recent chat, he outlined his reasons for optimism as well as his reasons for caution.

GlobeSt.com: Can we assess the damage in terms of institutional sales in 2001?

Pumper: There was a drop-off in major transactions of about 60% from 2000 to 2001, and keep in mind that 2000 was not a high-water mark. The majority of office properties taken to market in 2001 were pulled off the market and refinanced by owners who elected to hold for another year or two based on significant bid/ask spreads. Just look at cities such as Denver and Dallas and Minneapolis; there was a major disconnect between buyers and sellers in the primary and secondary cities. The other thing that goes hand in hand with that is the amount of sublease space in the market.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.