Martin: My short-term goal for the portfolio is to continue the focused and strategic growth in each sub-market where we currently have listings and management assignments. Along with this targeted approach to increase market share is the plan for continued strategic partnerships with key service providers to ensure best in class service while being mindful of the pressures of rising operating costs due to labor, insurance and utilities. My long-term goal is to ensure we have the appropriate balance of each asset type. I have had the privilege of managing a wide array of properties from commercial, industrial, office, retail, medical office & biotech and fully understand the nuances of each. As the third-party management arena continues to get more and more competitive, the ability to deliver multiple services to our clients will continue to be a key factor in distinguishing us from the competition.

GlobeSt.com: What are some of the major trends that you are currently seeing in the San Diego market for commercial real estate?

Martin: So far this year we have seen the rates hold study in class-A and class-B office and retail markets throughout the county. Biotech and Industrial space continues to be in high demand and driving rents higher. Medical rates however have begun to slip as the nervous speculation continues as to what changes may be looming for the healthcare industry.

GlobeSt.com: What is your outlook for the San Diego market this year?

Martin: My outlook is cautious optimism. I have recently begun seeing an increase in independent retailors seeking rent relief or early termination agreements. The old “interweb” continues to shift sales from the brick and mortar stores to online retailers. However, specialty retail continues to advance as new restaurant concepts and experiential service businesses drive occupancy and rents.

GlobeSt.com: What are some of the challenges that your clients are facing recently, and how are you advising them?

Martin: For those retail owners who have seen a recent uptick in defaults/request for rent relief, I am advising them to add the requirements for the reporting of monthly sales figures into their leases, along with larger security deposits/letters of credit. We also take the time to really understand the business plan of a prospective tenant. We categorically require prospects to provide us with a thorough understanding of their business plan before bringing them into one of our projects.