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VOL. 127 | NO. 171 | Friday, August 31, 2012




Daves Quickly Climbing Commercial Real Estate Ranks

By Sarah Baker

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In Bryce Daves’ three years in the commercial real estate business, he’s quickly climbed the ranks to lease some 2 million square feet of property.

DAVES

The CB Richard Ellis Memphis associate was promoted in March to leasing agent for Bellbrook Industrial Park – a 13-building campus in the southwest Memphis industrial submarket totaling more than 1.6 million square feet spread over 100 acres.

Daves is also the leasing agent for Trinity Ridge Business Center in northeast Memphis. This flex property is made up of eight buildings totaling more than 235,000 square feet.

Handling those properties is all in a day’s work for the 25-year-old native of Greenwood, Miss.

“I enjoy the interaction with brokers and business owners and the problem solving that goes into trying to make a space work both for a tenant and make it work for a landlord as well,” Daves said. “Even though I’m not from Memphis, Memphis is my home now, and so I like trying to bring businesses to Memphis or growing businesses that are already in Memphis and helping them on the real estate side.”

Daves moved to Memphis in September 2009 after obtaining a bachelor’s degree in business from Mississippi State University. It was during his time there that he was influenced by those around him to pursue a career in real estate.

“I enjoyed the business school, period, but I had two roommates that were both in real estate. One of them actually works here, Grant Ridgway,” Daves said. “So I guess seeing them do it interested me, and then I got into it. The head of the real estate department at the time was a sharp guy, really personable, and once I got in there, he made me enjoy it a lot more than I would have otherwise. His name was Michael Highfield.”

Daves joined CBRE in 2009 as a property administrator at Bellbrook. This experience taught him the art of property management, property budgeting and tenant relations.

“As a broker (on the landlord side), it gives me some insight into how it runs on the management side and what they’re going to be looking for out of their tenants,” Daves said.

In 2010, Daves made the transition to brokerage services and moved to the Thousand Oaks office. His primary responsibilities there included working alongside Tommy Jackson and his team of Brad Murchison and then associate Patrick Walton.

“Even though I’m not from Memphis, Memphis is my home now, and so I like trying to bring businesses to Memphis or growing businesses that are already in Memphis.”

–Bryce Daves

“Just kind of learning the ropes and taking in as much as I could,” Daves said of his time spent assisting with the marketing and leasing of an industrial portfolio of more than 16 million square feet.

Daves got his real estate license in the fourth quarter of 2010, and spent the next year between Bellbrook and Thousand Oaks. But he considers his greatest professional accomplishment to be the position he’s in currently.

“I’ve been fortunate to be able to learn from some good people and make some good connections,” Daves said. “I’m really lucky to be able to have two assets that are good assets with good asset managers and just enjoy what I do.”

It’s the connections Daves has made during his short tenure in the real estate industry that he and others attribute to his success.

“Bryce has matured rapidly and is an important part of our team,” Jackson said. “His numerous successes have been noticed by many people, both inside CBRE and the commercial real estate community. Perhaps his greatest strength is developing strong relationships with his clients. That will create even more opportunities for him in his career.”

As for other young professionals trying to get into the business, “find somebody that’s knowledgeable about the commercial real estate market in Memphis and willing to teach you and kind of take you under their wing and learn as much as you can,” Daves said. “At the same time, get out and network with as many brokers and people as you can.”

Since his promotion in March, Daves has inked some 25 new deals and renewals. And he doesn’t appear to be losing steam any time soon – even if that means getting a little creative with his marketing approach in a shaky commercial real estate climate.

“In the past, we’ve had all of our marketing material showcasing the (Bellbrook) park as a whole,” Daves said of the 45-year-old park that hasn’t seen much change over the years. “I’ve recently gotten with Elizabeth (Bergland) and our marketing team and we are developing some new material that’s going to cater more towards our spaces specifically – especially the larger spaces that we’re trying to lease. We’re kind of changing our marketing approach for the park to make people aware of it and market specific spaces.”

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 56 437 16,061
MORTGAGES 76 508 18,556
FORECLOSURE NOTICES 8 56 2,461
BUILDING PERMITS 241 876 33,390
BANKRUPTCIES 64 301 10,314
BUSINESS LICENSES 15 125 5,303
UTILITY CONNECTIONS 17 125 6,273
MARRIAGE LICENSES 19 98 3,511