IRVINE, CA—Patrick Luther, managing director of Faris Lee Investments here, was recently listed as one of GlobeSt.com's sister publication Real Estate Forum's “2014 Fifty Under 40.” The broker is a top performer with the firm who goes above and beyond to help clients achieve their goals, according to the company.
Luther's current responsibilities include commercial real estate brokerage, specifically focused on the retail net-lease segment. This includes securing the most favorable deals for buyers and sellers of this product type. He currently manages a listed inventory of more than 50 individual and portfolio shopping-center and single-tenant net-leased investment offerings in more than 30 states for a range of client types including private and institutional investors and developers, multi-unit franchisees and REITs representing an aggregate value of approximately $380 million He is approaching $1 billion in total transaction volume.
“Patrick shows an outstanding tenacity in the brokerage community,” according to Faris Lee. “By leveraging his intimate knowledge of the business and his diverse network, he facilitates deal making in the burgeoning net-lease space. Whether it's jumping on a conference call at 5:00 a.m. to service East Coast clients or traveling weeks on end to tour client projects, Patrick delivers.”
Luther will rank in the top 15 investment brokers in the country by number of retail property transactions. He achieved various recent braking cap rates nationally for particular tenants including Hobby Lobby, Chase Bank, McDonald's, Carl's Jr., Walmart and more.
Prior to joining Faris Lee Investments in 2011, Luther was at Grubb & Ellis, laying a foundation for investment sales by working as a leasing agent for anchored and non-anchored retail centers, tenant representation and acquisitions and dispositions for institutional and private clients and lenders. A leasing and tenant representation background offered a natural progression into investment sales and allows Luther to deliver a more thorough and in-depth understanding and approach to the analysis of single-tenant properties and their interaction with a larger retail project.
Luther attributes his start in real estate to Dave Wetta, founder of Wetta Ventures, a build-to-suit and development firm headquartered in Phoenix. He began working with Wetta at 17 years old and continues to seek his mentorship and counsel.
His goal is to command market share among his peers within the brokerage space by offering the broadest marketing programs available for his clients' properties, coupled with the most organized and seamless execution and process while continuing to generate record-breaking pricing and achieving maximum net proceeds for sellers. A possible career goal seen by his firm is to transition over to the principal side, utilizing his expertise to focus on development or investment in existing assets.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 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.
Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
