Beyond the Resume Podcast with Anthony Scavo
The Impact Real Estate Podcast is now "Beyond the Resume"! On this episode, your co-hosts Chris Papa and Lisa Flicker talk with Anthony Scavo, the COO of Basis Industrial. Anthony discusses the evolution of the firm from self-storage to multi-tenant industrial assets. He shares insights on operational strategies, the importance of team culture, and recruitment challenges in the real estate sector. Anthony also outlines the company's growth plans and reflects on personal experiences in the industry, emphasizing the need for adaptability and strong management practices.
Apple Podcasts: https://apple.co/3I3nkG9
Spotify: https://spoti.fi/35ZJGLT
Web: https://www.jacksonlucas.com/podcast/anthony-scavo
Chapters
02:50 Management Company and Third-Party Lease
05:46 Capital and Competition in the Industrial Market
08:43 Choosing Multi-Tenant Light Industrial over Outdoor Storage
10:15 Regulation and Zoning in Real Estate
11:12 Managing and Upgrading Multi-Tenant Light Industrial Properties
14:15 Raising Rents to Market Value and Providing a Better Tenant Experience
15:49 Balancing Institutionalization and Nimbleness in Operations
19:36 Lessons Learned from Lefrak and Katz & Matias
22:18 Joining Basis Industrial and Transitioning from Self-Storage
24:07 Basis Industrial's Offices and Corporate Structure
25:26 Living in Florida and New York
26:08 Pace of Life in Florida and New York
28:03 Scaling a Business and the Need for Institutional Capital
29:04 Setting Up Systems for Institutional Capital
30:32 Generational Shifts and the Changing Landscape of Businesses
34:58 Building a Strong Company Culture in a Remote Work Environment
36:35 The Challenges of Recruiting for Property Management
Takeaways
Basis Industrial rebranded in 2021 to focus on multi-tenant industrial assets.
The firm manages over 3 million square feet across Florida and Texas.
Multi-tenant industrial spaces are seen as recession-proof due to their tenant diversity.
Effective management practices can significantly increase property value and tenant retention.
Recruiting and retaining good property managers is a significant challenge in the industry.
Building a strong team culture is essential for operational success.
The transition from self-storage to industrial assets was driven by market conditions and opportunities.
Scavo emphasizes the importance of personal connections in remote work environments.
Future growth plans include expanding to 15 million square feet in five years.
Scavo's background in real estate has shaped his approach to management and operations.