PRO Perspective: Tivon Moffitt, Peter Bauman, and Industrial & Office Net Leases

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Our July 22nd PRO Perspective features Tivon Moffitt and Peter Bauman, Sr. Directors at Institutional Property Advisors of Marcus & Millichap. 

Crexi’s PRO Perspective series explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the industry. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. 

In this episode, Crexi’s Matt Cors, Tivon, and Peter discuss the current state of both the industrial and office net lease markets amid current events. The conversation ranges from examining tenant behaviors as they navigate the coronavirus to weighing the compression of cap rates as particular asset classes become flooded with investment capital. Here are some other key insights from the PRO Perspective episode:

Key Takeaways

  • Industrial serves as one of the safest commercial real estate assets, and people want to invest in safe assets in turbulent times. Investors can always withdraw that capital and invest in distressed opportunities down the line.
  • More investors are eying the single-tenant office space, as cap rates and available debt increases. This interest is driven specifically by medical tenants, who are more likely to remain in one space for a long time.
  • Post-COVID, there will likely be a resurging interest in office space leases as employers seek to rebuild work culture subdued by work-from-home policies.
  • There may be an increase in 1031 exchange transaction velocity, as people look to more stable investments compared to the stock market, etc.
  • For brokers, one of the best times to enter the commercial real estate industry is during difficult economic times — people need advisors more than ever to navigate the market changes.

Check out the episode here:

About Tivon Moffit:

Tivon is a Senior Director at Institutional Property Advisors (IPA), an arm of Marcus & Millichap. With over 17 years of commercial real estate experience, Tivon leads initiatives in advising sale-leasebacks, purchases, and recapitalization across institutional office and industrial spaces in Phoenix and across the Southwest region. 

Before joining IPA, Tivon worked at JLL leading National Capital Markets initiatives across institutional multi-tenant and single-tenant net lease sales and sale-leasebacks. Before JLL, Tivon worked at Colliers International, where he earned top awards, including being named NAIOP-Arizona’s Emerging Broker of the Year in 2012 and named Top Producer in 2012, 2014, and 2015.

Tivon earned his Bachelors in History from the University of Pennsylvania. 

About Peter Bauman:

Peter is a Senior Director with Marcus & Millichap’s Institutional Property Advisors (IPA) division. Peter specializes in institutional industrial and office properties across Phoenix and the Southwest in sale-leaseback advisory, purchase, and recapitalization capacities. With national expertise in single-tenant industrial, office, retail, and ground lease assets throughout the United States, Peter has successfully sold properties valued over $1.5 billion and across 36 states.

Before IPA, Peter served at JLL Capital Markets, leading the firm’s Net Lease Group and was named Top Producer from 2016 to 2020. Prior, Peter worked with Colliers International in investment sales and net lease assets nationwide. During his tenure at Colliers, he co-chaired the Net Lease Practice Group and was on the Board of the Leadership Committee. 

Peter earned his two Bachelor of Science degrees in Oceanography and Geology from Humboldt State University.

About Crexi:

Crexi is a commercial real estate (CRE) property marketing and deal management platform that combines an active marketplace for sale and for lease properties with powerful property marketing, deal management, and market intelligence tools designed to help brokers, buyers, and tenants eliminate time-consuming processes and close deals faster. 

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Shanti Ryle
Shanti Ryle

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Shanti leads Crexi's content marketing strategies with 7+ years of content development experience, creating everything from blog posts to award-winning podcasts. Previously, she worked on content teams at Snapchat, Weedmaps, and HopSkipDrive as well as developed copy, articles, and media for freelance publications.

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