Shopping Center Business

APR 2018

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 34 of 52

INVESTMENT 32 • SHOPPING CENTER BUSINESS • April 2018 M arcus & Millichap has a deep history in the retail sector, and continues to make changes to its platform to enhance the company's capabilities as retail changes. Recogniz- ing a convergence between institutional investors and individual investors, Mar- cus & Millichap's new retail leadership is focused on enhancing institutional ex- pertise in its practice, while adding experi- ence to its Institutional Property Advisors (IPA) division designed to provide broker- age and advisory services to institutional and large private clients. Scott Holmes joins the company as senior vice president and national director of its retail division, which is among the leading brokers of sin- gle-tenant net lease assets and shopping centers in the industry. Firm veteran Alan Pontius, a senior vice president and the national director of all the firm's specialty divisions, works closely with Holmes. SCB : The addition of Scott Holmes brings some changes to Marcus & Milli- chap. Alan, how has your role changed, and what other roles are changing at the company? ALAN PONTIUS : I oversee all Marcus & Millichap's property segment practices, or what we refer to as specialty divisions. The multifamily specialty, retail specialty, net lease specialty — all the various seg- ments in which we work with clients. I work with our practice leaders executing strategy on a national basis. As a company, we had a leadership role to fill. Bill Rose, who previously held the national director of retail position, really enjoys and thrives in client interaction. Bill made a personal business and life decision that he wanted to be more directly involved with clients, pursuing their objectives as an advisor. Bill is now working with our IPA division as a retail investment advisor, which creat- ed an opening for us, and we launched a search for a national retail director. The result is an incredible opportunity to work with an individual who I've known, and Bill has known, for a long time. We are extremely enthusiastic about Scott's back- ground and capabilities to fill this role. SCB : You've held a number of roles at Marcus & Millichap. What have you been up to most recently, and how is your role changing now? PONTIUS : The change for me is really one that has been almost two years in process. I've been in a national property specialty role for a number of years now. For much of that time, I was directly responsible for our office and industrial strategy. I then expanded into all commercial property segments. In April 2016, corresponding with Hessam Nadji's elevation to CEO, I assumed his previous role as the national leader of our various product segments. For the past two years I've been, if you will, the head strategist as it relates to all of our product segments. Individual prac- tice leaders are required for each special- ty, and I work directly with all of them to tailor strategy to the characteristics and client base of that asset class. Scott will be responsible for leading our strategies and initiatives as it relates to both our IPA and Marcus & Millichap retail divisions. SCB : Scott, tell us a little about your back- ground? What excited you about this role? SCOTT HOLMES : My background is really all on the client side of Marcus & Milli- chap's business. I've worked for princi- pals, mainly institutional investors such as pension fund advisors. I worked for American Realty Advisors based in Los Angeles for quite a while, heading their acquisitions team. After that I was at AEW Cap- ital Management, based in their LA office. I covered the Western half of the U.S. for the commercial product types for various pen- sion fund clients there. I am based in Phoenix now. I moved here at the beginning of 2010 to lead an acquisitions team for Cole Real Es- tate Investments, founded by Chris Cole. They were a major spon- sor manager of non-traded RE- ITs. Cole was very well known in the single-tenant, net- lease retail sector as well as the shopping center space. My team, specif- ically, was the larger format, multi-tenant retail, shopping center team. During my time at Cole, we did about $4.5 billion in acquisitions all over the country for sev- eral Cole REITs. Cole ended up selling and becoming part of another company in 2014, which led to several changes there, including the formation of what is now called VEREIT, Inc. Investors Change With The Times As institutional investors and individual investors blur the lines with their wants and needs, Marcus & Millichap has made some changes of its own to fill them. Interview by Randall Shearin Scott Holmes Senior Vice President Retail Division Marcus & Millichap Alan Pontius Senior Vice President Specialty Divisions Marcus & Millichap

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