Heard: Yes, we have secured numerous large portfolio assignments on the services side of our business and recruited a number of producer teams from across the country as a result of an altered economic landscape. This is no surprise, as the areas in which a firm performs best usually benefit most during times of consolidation. In some ways it is a contrarian thought, but Transwestern always seems to grow and expand during times of economic contraction.

GlobeSt.com: Over the past three years, a lot of real estate professionals have left the industry and a large number have left their existing jobs to go to new companies. How has this impacted Transwestern?

Heard: In times of economic decline, many professionals take a more critical view of their profession, the firm they work for and their workplace environment. We believe we are “The Right Place to Be” for our team members and clients, and we promote the fact Transwestern has been routinely selected as a “best place to work” by major publications in many major markets across the country. Our culture is one of our differentiators, so we have played to this strength over the past few years.

GlobeSt.com: Over the past several years, Transwestern’s focus on sustainability has increased. How are you working with clients to spread the Green word?

Heard: Sustainable business practices make economic sense, so we have a long history of adding value in this sector. Transwestern has a fully developed sustainability approach and staff, but we are not finding that we must spread the word. Our clients, and most of the Fortune 1,000 companies in America, are now demanding it, so it is more of a question of execution and alignment of interests as it is anything else.

GlobeSt.com: Many opportunistic investors have been disappointed at the lack of distressed investment opportunities to date. Do you believe 2011 will offer more distressed opportunities? Why?

Heard: Yes, because there have been so few investment opportunities in 2010, it cannot go anywhere but up from here. Most have been surprised at the pace of investment sales because people’s expectations anticipated another RTC-like experience. Well, this recovery will not play out exactly like the past few recoveries, but there will still be significant pressure to recapitalize assets in the period 2011-2013. Transaction activity will increase and much of the equity currently on the sidelines will be put to work.

GlobeSt.com: During the recession, development slowed to a trickle. What kind of development opportunities will 2011 bring and how will Transwestern take advantage of them?

Heard: We are involved with development activity in the healthcare arena and see work in both the public and university sectors, but it is clearly below the levels seen during the past five years. Once we see sustained job growth, speculative development will make sense in certain asset classes in select markets where supply did not outstrip demand. New development will emerge sooner than most expect.