Today's MWM Broker Spotlight features Dan Sweeney, a broker and property manager with Curry Real Estate Services.
MWM: Why did you decide to choose a career in commercial real estate?
Sweeney: I grew up with family in the real estate business, so I learned some things by osmosis. I started out in property maintenance and moved into property management taking care of condominium homes associations. In 2019, I made the transition to commercial property management and in 2020, began doing both brokerage and management.
MWM: What are market trends you are experiencing with your clients currently?
I am still seeing buyers and sellers willing to make deals happen. Interest rates being at historic lows are incentivizing buyers to lock in for the long term. With the growing demand in the trucking and related logistics-based groups, I am seeing an increased interest in my industrial properties as well.
MWM: What do you see the local and national CRE rebound including?
A health-safe workplace will be the new normal whatever the post COVID-19 environment looks like. Landlords and tenants will need to adjust to the new norms and create new ways to interact with each other and their clientele to succeed going forward.
MWM: What challenges and opportunities are your main asset classes facing now?
I see the same challenge everyone does – the stress on the retail / service sectors especially where in-person gathering is essential to business success. While we also are seeing changes in how companies make use of office settings vs WFH (working from home), that is somewhat offset by businesses wanting more space to make more space for their workers, with demand particularly acute among legal and financial service providers. And again, industrial opportunities have increased with demand from logistics support, transportation and manufacturing users.
MWM: Can you share any market projections for KC?
I believe the Kansas City commercial real estate market will bounce back given how diverse our industry base is, which shelters our community from major economic downturns. With the new airport, potential new data center coming to the region and the Northland in particular really could be heating up in the near future!