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Steve Collins (RTS 12)

Episode #: 045
Steve Collins (RTS 12)

Guest: Steve Collins
Topics: The Palomar Group, real estate


Chris Ressa 0:02
This is retail retold the story of how that store ended up in your neighborhood. I’m your host, Chris Ressa. And I invite you to join my conversation with some of the retail industry’s biggest influencers. This podcast is brought to you by DLC management. I’d like to thank one of our sponsors, retail openings and In today’s dynamic retail landscape, tracking openings and closings before they take place has never been more important. Having this intelligence is an undeniable competitive advantage, retail openings and also known as Rock Tracks, future openings and future closings, comprehensive, accurate and reliable the rock is your crystal ball and the key to making well informed decisions with confidence in today’s evolving retail climate. Welcome to retail retold everyone. Today we have Steve Collins. Steve is a partner at the Palomar group. They are investment sales brokers out of Augusta, Georgia, they focus primarily on retail properties in the southeast. Steve has been in the industry for over 14 years. He is a Harvard grad and a former college football player. Welcome to the show, Steve.

Steve Collins 1:24
Thank you for having me. Appreciate it,

Ressa 1:26
Steve. So why don’t you tell us a little bit more about you who you are what you do and what’s going on in the life of Steve.

Collins 1:33
Yeah, so we the the Palomar group, we we started me and my two partners, David Rogers and Brian McArdle started the company are actually tomorrow will be three years we started July 1 Three years ago. So we primarily focused on retail assets across the across the southeast, anything from single tenant assets to unanchored centers to grocery anchored centers and empower centers as well, the three of us, David Ryan, and myself all started at our previous company within about two months of each other. And we worked there for about 11 years before we went out on our own the previous group was a was a regional developer. So we worked on a lot of a lot of their projects do a lot of grocery anchor centers, mostly throughout the southeast. And we we kind of we focused on that on the development side for probably about five years. And then in about 2010, I believe it was they, they had a portfolio of seven shopping centers that they they wanted to sell. So they gave there about 12 of us it worked over there. So they gave everybody a chance to sell those shopping centers, and they didn’t ride and I kind of took the ball and ran with it and really, really pushed those, push those shopping centers. And they ultimately decided not to sell any of them. But But through that we through that we met, we met a lot of guys a lot of different groups that were buying, buying shopping centers. And so we found out what they what they wanted. And we just worked the phones and started calling owners and seeing if seeing if they would sell so we we we found we found one and then you know and then we said that that worked out pretty well first of all you get to work on you work on a shopping center for about the seller shopping center for about six months when you’re working on developments. It’s about three years. So it’s a little bit a little bit a little bit quicker turnaround, but But no, we found that you know, we found that first one and then we just found another one and then just kept kept growing from there and after after a while you know people people eventually let us let us start listing deals for and then we just got to we once we once we got going with it, we just shifted our focus and kind of took our hands off the development side of things at the at the other company and just really focused on on the investment sales side. And so did it over there for a few years and then three years ago decided to

Ressa 4:09
go out on our own. Why Palomar? What is Palomar mean?

Collins 4:13
How long is it not? It’s a fishing knot. And it is the it is the strongest fishing knot. So we we thought it was a good metaphor for us, you know, having having the three of us having a strong bond and being a very, very reliable, that’s the that’s the official story. In all honesty, we all three of us kind of tried to come up with a list of names and we couldn’t really decide on anything we liked. And we came up with a big list and we sent it to a Senate to a marketing company. And we told them to come up with come up with a name for us and they said well, we kind of like this one. We we just went with it.

Ressa 4:45
Cute. All right. All right. Cute story. And you played football at Harvard?

Collins 4:52
I did. Yes. What was that? Like? That was fun. It was a it was great. It was so I grew up in Greenville, South Carolina and wanted to play play football in college and wasn’t wasn’t really recruited my out of high school. So actually, after high school I did a did a post grad year at a school called forking and Military Academy in Virginia, and played on their postgrad team, which which their postgrad team is essentially just like a gap year between between the high school and college and their, their post grad team, if you make the team, there’s a very high probability that you’re that you’re going to be able to play in college somewhere because that’s that’s kind of what that post grad team is geared for. It’s, it’s pretty much half the guys are there to just they need to just get bigger, get bigger and stronger and get recruited more like the other half are there because they maybe didn’t have their SATs score? Yes, I think we had 50 guys on the team. And I think all 50 of us played played somewhere in college. So I did that. And then being from South Carolina, obviously, the goal is you won’t play in the SEC or ACC somewhere. So Harvard was never was never even a remote fault in my mind. But there’s actually a kid from heart from fork union that the previous year went to Harvard. This is a kid on their high school team. So the Harvard coach came back to Fort Gagnon, and he actually was recruiting a couple guys on the high school team. And my coach told him that I told him that I had pretty good grades. So he started he started recruiting me, it is still I mean, it’s still still kind of hard to believe because it was just never like going up there was like never even I’ve never even crossed my mind. I even know what it was whenever. Whenever they like to me I like I felt in New York was like the farthest possible place you could go. So I got it even really realized. Me in Boston. My Boston is a good bit further north in New York. So but not went up there. And I went up there on my visit and loved it. At that point. I’ve kind of seen that. I was getting recruited by mostly the one double A schools FCS now, I guess so you know, like, you’re like Furman and town down? Yeah, that’s cool. Yeah, schools like that. So um, so you know, I figured if I was if I was gonna go the go the one double A route. And Harvard, Harvard wanted me to go there. It’s kind of hard to kind of hard to pass up.

Ressa 7:15
Let me ask you. Yeah, obviously, Ivy League education. And then, you know, on top of it, Harvard. So a couple things. One, how was it with the academics of Harvard? Plus doing football? How

was that?

Collins 7:30
Well, I mean, you I mean, you’re a college athlete. I mean, you know, this is a grind. I mean, it’s a full time job. And I mean, it was, it was tough. I was not I was not smart enough to be one of those kids that could never go to class. And then just like show up for the final and get an A. So actually had to study I think it’s like anything you figured out when playing athletics, I think I think actually gave gave me a bit of an advantage or gave all of us an advantage because you’re forced to manage your time. I’ll never forget them. I first, the first paper I ever turned in. For a it was a history class. I was in first paper ever turned it in, like the second week of school, I get it back. And it said this is the TA right. This does not make sense. Maybe, maybe I should, I shouldn’t be here. No passing that class, but I was positive. It was it was it was great. I mean, it was hard. I mean, it definitely required work. But but it was, it was enjoyable. One of

Ressa 8:29
the things I think

people are always wondering out there, especially with, and we’re off topic, but I think it’s interesting, especially with the state of student loans, and what’s happening with universities on a go forward, and the pandemic and all that one of the things you always hear like is, you know, that’s I think common kind of echo chamber talk today is like, you know, there’s some degrees that aren’t worth it. But still today, the ivy League’s are like, if you could get there, it’s still worth the crazy premium that they charge. And one of the reasons is the opportunities it affords you later. Do you feel like, that holds water? Like, have you? Do you have connections from Harvard that like you could have never had if you didn’t get to go to Harvard and things like that?

Collins 9:15
I mean, sure, I think it just, I think what it mainly did was it just opened you up to so many different people from all over the country and all over the world. I mean, like, I mean, you know, we had guys from you know, 30 states on the on the football team. So, you know, if I’d have just going to the University of South Carolina or Clemson or, you know, we’re out of more than likely just hung out with all the people I went to high school with and all the people I grew up with, so you know, going away and being just meeting so many people from so many different places. I think definitely, I think was was fantastic. And but yeah, I mean, I do think it definitely helps me I always tell people like my wife’s high school teachers. She has kids that are applying to Ivy League schools, and I’ll talk with them sometimes. And I mean end of the day degree from whatever school you go to going into matters is what you do with it. Yeah, the Ivy League, you know, Harvard in particular does, I do think it, it helps you make that first step. It helps kind of get that get your foot in the door. But me, but ultimately, it’s what you do with it. It’s not it’s not where you’re from. It’s what you what you make up.

Ressa 10:19
That’s a great point.

Collins 10:20
And you talked about like the degrees. I mean, like I was a government major. And my one partner David was a sociology major and my other partner Ryan was a biology major. So we’re none of us, none of us have none of us have that business major background,

Ressa 10:33
I would say it still feels like today, if you see on a resume or LinkedIn profile, they went to Harvard, it stands out more than other schools. There’s I think that’s, that goes without saying at least. Yeah,

Collins 10:47
I mean, I think I think it does, I bet

Ressa 10:49
it’s open doors and meetings for you that you don’t even know it did.

Collins 10:53
Yeah, probably. So probably so and just but like, just the I mean, like, just the guys that I know, the different paths that all of us have taken, you know, since since college, it’s really cool to be able to be able to, you know, call someone that’s, you know, in a completely different field, but, you know, see, see what they’re, you know, see what they’re doing. And, and I think it’s helped me a lot in business, just, you know, seeing other what Gods are doing in other sectors of business, you know, whether that be finance or, you know, other totally, I love that, but one of my friends runs a casino, you know, once, you know, several work in finance, so, you know, and then, you know, one works for, you know, Hilton Hotel. So you know, it’s kind of just all over the place to hear about what they’re doing. And it’s motivating to, because all these guys are pretty successful, kind of motivates you to want to want to get to that level as well. I bet the

Ressa 11:47
conversation with the guy who owns the casino right now, given everything with a pandemic would be, you know, applicable to your world being in retail real estate.

Collins 11:55
Yes, I Yes, it is. Yes, very, very, very applicable.

Ressa 11:59
Well, you recently did something that caught a lot of people’s attention in the retail real estate industry. You went on what you called the Freedom tour, why don’t you tell us about what the freedom tour was? Because I think it’s a it’s an interesting story.

Collins 12:17
After about two months of quarantine, you know, where we hadn’t been any conferences, you know, all the conferences have gotten canceled. Nobody was nobody was traveling, seeing an E or seeing any other clients or doing anything. You’re seeing people which is a which is a major part of our of our business. One of my partners, I think it was Ryan, his dad actually has a has an RV. And we were just kind of joking around one day that we should get an A we should rent an RV and just drive it around and see everybody and I’ll see all about see all our clients and all of our friends just all over the all over the country. And so so we did, we, we rented we rented an RV. And we, me and David and Ryan we set out on Monday morning and stayed gotta got back Friday night and hit, hit 13 cities all over the all over the all over the country we went to we started off we stopped in Charlotte and did Charlotte in Virginia Beach on Monday. We did Richmond in DC on Tuesday, and Cleveland and Cincinnati on Wednesday, Lexington, Louisville and Nashville on Thursday, and then Chattanooga and finish it up in Atlanta on Friday. So it was great recovered 20 to 2200 miles in a week and a 3032 foot win sport, win sport RV.

Ressa 13:36
Amazing. And

I’m interested in the story behind that because while it’s fun, it’s cool. It’s it’s a road trip, you’re all stir crazy. But the premise

behind it is while everyone’s doing zoom calls, you created an opportunity to actually go see people.

Collins 13:55
Yes, yes. And that was one thing that we’ve all realized, during during the shutdown and during Quarantine is that we all want human interaction. And no, we haven’t had that for so long. So a lot of our most of our clients are not, you know, or not in Augusta, you know, they’re all over the country. So, you know, we get the same we’ll travel to see them. We’ll see him at conferences or whatnot. But and we hadn’t had that. And I thought one thing that was that was really interesting. So we set up tailgates and parked in parking lots of shopping centers, and just had, you know, had people come over and you know, we’ll have to have a tailgate for a couple hours. And I thought it was really interesting that even like people that work together, they hadn’t seen each other in 90 days. So they’re like they’re coming to our tailgate and they’re like saying hi to each other because they hadn’t they hadn’t seen each other so wow, that is fast. Yeah. And also one thing that really surprised me was how long people stayed me like people like we thought we thought you know, these will probably last for you know an hour at the most but but like people stayed for like you know for hours like Even people, if people that were looking at the list of who had RSVP were like, you know, they’ll probably stop by for a few minutes, say hi, and then leave, but like they everybody was staying because I think I think people just wanted, you know, people just wanted that human interaction and wanted to just be be around people that weren’t their immediate family. You know, we talked about some business, but near a lot of it was just just catching up and just seeing just seeing how everybody’s been doing.

Ressa 15:26
What do you think the long term effects are of you taking the time and going to see these clients and going to do that? Would you have you seen any positive effects from it already?

Collins 15:41
I mean, hopefully, I mean, I mean, I think it’s already paid dividends. I mean, I wasn’t I wasn’t scheduled to be on your podcast until after we until after we did that. So that’s a great point. And I mean, I’m hopeful that we, when we went into this, the whole the whole shutdown, and everything on mindset, like even though, even though we knew that our our volume of transaction was going to be down for this year, we wanted to our immediate thought was, how do we during this time, even though our transactions are down? How do we position ourselves to come out of this even more successful than we weren’t going in? So hopefully doing this. And doing other things, like, you know, like doing a podcast and being more active on your own LinkedIn and things is just and just communicating with people is will hopefully allow us to be more to be more more successful on the tail end of this than that we weren’t going in to be determined. But honestly, that’s our that’s our hope. I think it’s

Ressa 16:38
going to pay dividends. I think the fact that you took the time to drive cross country to go see people, people appreciate that. I think you saw that in how long the dwell time was at your tailgates. And I think that will be remembered down the road for sure.

Collins 16:59
Yeah, hopefully, I definitely think it’s something people remember. And you know, it’s, we’re a small shop, we’re not a, you know, we’re not a international brokerage company, or anything. Remember, we can do everything that those guys do. But we want to set ourselves apart from our competition. And hopefully this is, that was a good way to do it. It’s definitely

Ressa 17:18
a unique thing. And I don’t know if there was things like that you mentioned, networking, with peers and other industries. I don’t know if there was anything like that done in other industries, but unique and clever marketing. And I’m always intrigued by clever marketing. So for sure, you mentioned business. So from the investment sales broker mindset, what, what is the strategy coming out of this for you guys?

What do you think? And

Collins 17:47
I think businesses, we’ve already seen things pick back up. I mean, at the beginning, when we had a lot of deals under contract going into COVID. And I mean, it was pretty much just, you know, slowly, one after the other fell out a contract a lot of those.

Ressa 18:01
So if you don’t mind, some context, what is a lot of deals mean,

Collins 18:07
we had eight deals under contract, okay, going into COVID, which, which were all supposed to close, you know, be closed by now. But they, we did have one, we did have one go through three others, we’re still in, you’re still in the process, but everything’s been kind of pushed out. I mean, everything had to be I mean, the lenders backed up, backed up, you know, equity partners, you know, took a pause. Underwriting became a challenge because nobody knew what tenants were going to be left and what they were going to be paying. So it was a very uncertain time. But now I think as we as we we start to open back up and get some more clarity on just what the situation is. I think it’s gonna be good. I think, I think activities, we’ve already seen it pick back up, we’ve got I mean, we’ve put deals under contract, continue to receive offers on deals and are talking with guys more proactively. Now. I mean, at the start, at the start of COVID, we were mainly talking to guys about what’s this tenant doing and then relaying that information to other guys who also have that tenant or trying to help people navigate the waters with their tenants. And now, now the conversations are more how do we how do we capitalize coming out of this? Where do we need to be focusing our efforts on acquisitions or disposition? So I’m confident that we bounce back and have a have a certainly is certainly going to be a down year just for our industry as a whole. But I’m hopeful that it’s not as down as was first beer.

Ressa 19:42
You mentioned some things are coming back. What are the secrets for deals to come back right now? I

Collins 19:48
think tenant stability and tenants tenants opening back up and I think we’ve seen a lot of that already. I mean, we hit nine states when we were on the freedom tour and And we were very curious as to what just what the shopping environment was going to be and what traffic was going to be like, outside of Georgia, we were very, very pleased with and very surprised at just how busy all the shopping centers were, I mean, people, you know, people still, you know, the wearing the masks that date, you know, social distancing and everything. But the, the shopping centers that we stopped at were, by and large, very busy. So, I mean, you still had some, you still had some gyms do some movie theaters, and some restaurants, you know, not either closed or not operating at full capacity. But by and large, most tenants were open, and the shopping centers were busy. So I think that bodes well, I think we’ve already started to see some stability coming into the market. Because I mean, I think a lot of landlords went into this, you know, thinking that rent collections, it was a very real possibility that rent collections went to zero. And they have been very pleased with with how those collections have been. So I think that the hope is that the stability comes back, pretty quick.

Ressa 21:04
For for a buyer stability means tenants getting open, what else define stability in today’s world,

Collins 21:13
we have a lot of instability right now. But I thought I think stability, I think confidence, public confidence in just the direction that direction that things are going, I think the consumer confidence is gonna is gonna help help drive a lot of stability from a purely like, owner or acquirer lenders coming back, because lenders, lenders backed away substantially at the at the start of this, I mean, we had one deal that was, you know, they were it was a grocery anchored deal that they were getting a CMBS loan, and, you know, they were in the last, you know, I want to say they were in the low, low to mid 3% range, and then, you know, COVID hits, you know, the lender says, well, we’ll still do it one day, the lender says, well, we’ll still do it, but the rates now 4.8%. And then and then the next day, the lender just backed away completely, I think, I think and I think lenders are we’ve we’ve guys are getting quotes on on loans, again, lenders are quoting loans. And so I think getting getting those guys active, getting the lenders active, again, I think is going to be kind of the last, the last shoe

Ressa 22:17
that needs to drop. One of the things that I think will or should be looked at, no matter if there was a concession or not, if a retailer was willing, during the pandemic, to sign up for more term, that to me,

if they could look in the face of that uncertainty and sign up longer term, that to me to a buyer of a shopping center should be a defining moment of stability. And I would feel confident as a seller and and as a buyer, the buyer should be pretty confident and in that tenant, no matter where they’re at right there. If they if they’re willing to sign up, then they could look through the pandemic and say, I’m going to extend this out despite what’s going on. That to me is pretty powerful. I don’t know what it’s anecdotal, but it is, it should be a sign of confidence to your point previously,

Collins 23:19
yeah, no, 100% agree agree completely. And I think the you know, of the, of the landlords that we’ve talked with, that’s happened a lot, a lot of these tenants, you know, have in working through some rent relief for two, three months or whatever have have extended for longer term is, as you know, I mean, just more term, makes the makes the shopping center more stable. So 100% agree with that. I think landlords and tenants as well, I’ve done have done a good job of working together to provide both both parties more stability, I mean, longer term is great for longer term is great for a landlord, but it’s also great for a tenant because then they’re able to, they’re able to see what their what their expenses are gonna be for a longer period of time. So it really, really plays back into that that landlords and tenants are in a partnership together to help everybody be successful.

Ressa 24:13
I want to pivot that

it’s that’s some good high level stuff. I want to pivot a second. What is the state of the investment sales brokerage industry? on a on a on a go forward in a post pandemic world is there are there changes what happens?

Collins 24:32
I definitely think there’ll be changes. I mean, I know just like, just like after, I remember, I was fairly new into the industry and wasn’t really doing investment sales in 2008 Whenever 2008 hit but I remember our bosses at the time, you always say if you can make it if you can make it through this, you can make it through anything. And I do think that going through that time a lot of a lot of people that have been in the industry for a while. long time he did get out of the industry. And I think that’s partly, I think some of that helped us helped us get going. Because a lot of the got when we were first ramping up trying to trying to get our foot in the door in the investment sales in the investment sales thing, most of the acquisitions guys that we were talking with, were not the 5560 year old guy, they were the 30 year old guy. So, you know, we definitely had a lot more in common with them than you know, then probably previously would have. So I think it’s good. I mean, I think there’s definitely going to be some people that get out of the industry. But I think even more than that, I think you’re just launching a deal. sending out an email blast sitting back and waiting for offers come in is not going to cut it. I mean, that’s, that’s not something that we do. I mean, we, we actively push all of our deals and try and get creative and find the five different ways in order to make sure our clients are successful. So I think it’s going to be, there’s just going to be a continued continued evolution of using technology, but also just using using the phone and reaching out and talking with people. And connecting.

Ressa 26:12
You mentioned technology, do you? Do you see things like and 10x? And, and that starting to explode? Given given the virtual worlds we are living today?

Collins 26:25
I mean, I think TEDx is going to continue to be around. I don’t know, I mean,

Ressa 26:29
things like that, right? Things like that, like that’s a technical technological innovation that came out of whatever right? Do you see more innovations like that?

Collins 26:39
I mean, I think they’re, I think there will be more, they’ll definitely be more innovations. I think from from our perspective of the innovations can come and a lot of ways with how you can how you can tell the story of the shopping center. So you know, not every tenant reports, sales, but now we can find traffic data. So we can see, you know, we can see how many people are coming to that shopping center or coming to that specific tenant. And we can, you know, we can compare, like, what were those how many people were coming pre COVID, how many people were coming during COVID, and how many people how many people coming now. So I think things like that are gonna play a big factor in in helping, you know, helping tell the story of of a retail property.

Ressa 27:25
Got it. Anything else we should be talking about right now that we’re not talking about?

Collins 27:31
I think there’s we shouldn’t be talking about a lot more of the positivity that’s out there right now. Because I do feel from when we were out on the road, there was a lot more positivity than than what, what we were expecting from landlords that were extremely pleased with the amount of rent that they’ve gotten from the communications that they’ve had with their tenants from what their tenants were doing to get through it and and how tenants were getting creative, even though they were able to operate unlimited capacity, how they were how they were able to get creative and figure out ways to to stay in business and to continue to operate. And also to think just, you know, just was very positive the number of people that we saw out shopping, and and trying to trying to get back to normal. So I know most of most of what we hear and if you one of the best parts about about being in the RV for a week was we didn’t turn on the news once. We didn’t watch. We didn’t watch TV the entire week, which was great. Because it felt like every time you turn on the TV see a lot of a lot of negativity. And it was good to it was good to see people and see people that were there being pretty positive and pretty optimistic about the future. The I think I think that’s one thing that we definitely should be focusing on more than in our industry and as our country. Yeah,

Ressa 28:56
it’s an interesting comment. And I I’m glad you said it. I actually, I found really interesting. I was doing some

homework on

recessions. I’m a dork. I was just kind of looking to see what, what happened on in recessions. And I found this quote that was just stuck with me. And this quote, I found was now that the crisis is here, there is a sudden, frantic effort to visualize its implications, government and business seem equally on shore. And I found that quote, interesting, and that doesn’t sound positive, and I’ll get to my point.

Collins 29:41
But accurate but accurate.

Ressa 29:44
So you say accurate, you know, when that quote was from adult, the 1973 recession, from Ad Age, they ran that in q4 in the midst of the recession in 1973. And so I found that interesting because We’re saying the same things. Yeah. It kind of like gave me a moment in time where I was like, You know what? This too shall pass. Because if that quote was printed in 2008, if it was printed in the savings and loan crisis in 87, after bubble, it could have been printed today, but it wasn’t. And it was the same. Same thing you’re reading and headline news today. We don’t talk about the positivity enough. We talk about that. But it was a moment in time for me to go, you know what,

this too shall pass. So I appreciate you bringing up the positivity point. Yeah,

Collins 30:37
absolutely. No, it’s 100 100%. Accurate. Yeah, we’ve got we’re gonna get through it. I mean, not necessarily a pandemic. But you know, recession. Recessions happen. Totally, we get through it. And ultimately, I mean, just like we’ve seen over previous recessions, the ones that the ones that make it out of that recession, make it out stronger than that they went into it. So that’s what I know. That’s what DLC is trying to do. And that’s what that’s what that’s what we’re trying to do, as well.

Ressa 31:05
All right. Well, listen, this has been great. We’re now going to the last part of our show, which I call retail wisdom. Yes, I typically ask everyone, three questions. And I’m going to ask you those three questions. Tell me when you’re ready. Yeah,

Collins 31:29
I’m ready. All

Ressa 31:30
right. What is your best piece of commercial real estate advice?

Collins 31:34
So the best piece of advice that I think I got was was way back when I first started. And it was you’re not working for this deal. You’re working for the fifth deal. And I think that kind of goes to the core of that we’re in a relationship business, don’t sacrifice a relationship or getting one deal done. You want it you want to get a lot of deals done with that person. So always treat everybody involved the right way so that you can work with them again in the future.

Ressa 32:04
Great advice. Love that answer. The question to extinct retailer, you wish would come back from the dead.

Collins 32:11
This is, this is an easy one for me. And as I was a little disappointed, because I was I was actually listening to your podcast. It’s been said before, but Toys R Us All right. I feel like I just I can’t believe they didn’t just capitalize on the retail experience. I mean, it’s toys, you know, set up, set up an area for kids to play and you like make it make it a place and then you go to their stores and there’s like a warehouse but make a place you know, make a make a player kit, where parents want to take their kids and let them let them play with toys and then ultimately buy the toys. So I think they always always wondered why they why they never did that and why they I felt like I feel like toys is such an easy. Such an easy thing to capitalize on with the whole the whole the whole experience of

Ressa 32:56
Have you seen the store camp? I have not I’m not check it out. Yeah, Google camp store there in New York City. Check out the store camp. Okay. Check it out.

Collins 33:07
I’ll do I’ll do that. All right.

Ressa 33:09
The last question. I’m gonna give you a retail product. You’re gonna give me the retail price. All right.

Here’s the story behind the product for Mother’s Day. We got my mother in law, a family photo session to take a family portrait. We’re going to do it at their beach house in Avalon, New Jersey, and it’s going to be a beach photo session. And so my wife was picking out my clothes. I am looking at the Tommy Bahama the good life linen white shorts. Oh, nice. What do they retail for?

Collins 33:54
Well, we’re I’m actually going to the beach next week. So I’ll probably have a better I’ll probably be able to just absolutely hit this on the head next time next week because I’m sure my wife’s probably going to have me by something very similar to dri that do our our family picture with, but Tommy Bahama linen shorts, I’m going to say

Ressa 34:13
$75 close at 950. But thank you for flying to Dallas.

Collins 34:18
I was gonna go at but not too bad. Not too bad.

Ressa 34:23
Listen, Steve, this was great. Appreciate the stories. And looking forward to coming on your podcast, man.

Collins 34:30
Yes, sir. Thank you very much. Thanks for having me. I greatly appreciate it.

Ressa 34:36
Thank you for listening to retail tools. If you want to share a story about a retail real estate deal that you were a part of on our show. Please reach out to us at retail retail at DLC This show highlights the stories behind the deals from all perspectives. So it doesn’t matter if you’re a retailer, broker entrepreneur, architect orange terney Also don’t forget to subscribe to retail retold so you don’t miss out on next Thursday’s episode

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