Gar Herring

Sourcing retail acquisition and development opportunities as CEO of The MGHerring Group.

[Gar Herring @RetailDevDude]

If rates had not dipped from 2019-2021, and just risen gradually to where we are today, would #CRE be better today or worse?

[Gar Herring @RetailDevDude]

@DMAC_19 If business plan was ruined by a 59bp increase in rate, then probably was not a strong plan to start with. But I get it - deals are so tight today that it hurts any CRE owner.

[Gar Herring @RetailDevDude]

@realEstateTrent Disagree - what I learned about working in teams and the challenging projects carried me through the GFC. Would have failed with the lessons learned at UT! 🤘🤘🤘

[Gar Herring @RetailDevDude]

@iononrecourse Yeah, but you gotta have deep pockets of patient equity and no debt. Otherwise you get wiped out when economy gets tough.

[Gar Herring @RetailDevDude]

@Cribdilla I always wonder if stern, angry, rude rejections of offers actually results in higher prices. Do buyers say, "Better add a premium to our proposal. Sure don't want to offend that agent again!"

[Gar Herring @RetailDevDude]

@PatCarino You don't. They almost always cannot survive multiple relocations and can't pay the new rent.

[Gar Herring @RetailDevDude]

@DeerwoodRealty Just like paying taxes, some people just have a mental block about paying commissions. It's not about the money, it's about greed and jealousy.

[Gar Herring @RetailDevDude]

@dylthorn These 'rent vs buy' posts are so silly in that they all make crazy assumptions, leave out tons of variables, including very personal ones. Is it just clickbait looking for attention?

[Gar Herring @RetailDevDude]

@credealjunkie Good explanation. Can you now explain why these same families will only sell at some ridiculous above-market price that makes no financial sense for any buyer?

[Gar Herring @RetailDevDude]

@jchal Did the landlord put in any money other than leasing commissions?

[Gar Herring @RetailDevDude]

@robbiehendricks Always fascinated how LPs beat up the GP on their fees without really understanding the GPs costs that the fees are trying to cover.

[Gar Herring @RetailDevDude]

@KennethRWebster AmEx Platinum Lounge was awesome, and the opposite of your post. But got too crowded.

[Gar Herring @RetailDevDude]

@jandreini1 @flexkavana05 Still, calling the city to pull the application is obviously bad faith on behalf of the tenant.

[Gar Herring @RetailDevDude]

@jandreini1 @flexkavana05 So if the landlord made the application, how did the tenant have the right to call the city and pull it if it was not their application?

[Gar Herring @RetailDevDude]

@Dirtdog They all think "I have a business degree, so I am smart, but I do not understand retail, so therefore it is bad / risky."

[Gar Herring @RetailDevDude]

@Dirtdog The problem is that an entire generation of bankers (and institutional investors) have not done ground-up retail deals. They simply do not know how to underwrite it, so they ask for PGs and dumb stuff.

[Gar Herring @RetailDevDude]

@bethanyjbabcock Don't miss that. My wife had to quit Twitter while pregnant because it was all "If you do (literally any choice of being a mother), you are the worst parent that has ever existed, and your child will grow up to be a terrible human being."

[Gar Herring @RetailDevDude]

@realEstateTrent "Too much traffic" is the war cry for every anti-development boomer. Do you 1) want to prevent future generations from ever having affordable housing, 2) deal with traffic, or 3) move to a rural area? That's it - those are the choices.

[Gar Herring @RetailDevDude]

@realEstateTrent Made these stickers over 2 years ago

[Gar Herring @RetailDevDude]

@aaron0505 Any chance to develop more near it using the excess deck capacity?