Experienced Businessman and Entrepreneur
McDonald’s spent $9B on Remodels. Here’s What That Means If You Own the Land
There is a reason McDonald's ground leases trade at the tightest cap rates in the net lease universe, approximately 4.38% to 4.40% as of Q1 2026, right at or below the 10-year Treasury yield. The market has essentially concluded that a McDonald's ground lease is a...
Starbucks’ Next Growth Chapter: Why Smart Development, Better Experience, and Stronger Partnerships Matter
Starbucks remains one of the most important brands in American retail. It has scale, loyalty, brand awareness, real estate history, beverage innovation, and one of the strongest consumer platforms in the world. In many ways, Starbucks is still best-in-class. That is...
The Deal I Almost Didn’t Take: What it taught me about trusting market data over gut instinct
Developing retail and QSR sites across the West, I thought I'd earned the right to trust my gut. I'd walked enough pad sites, sat through enough broker pitches, and closed enough deals to believe I could feel a good corner before the numbers confirmed it. Then a deal...
The Fed Held Rates. For Hotel Developers, That Does Not Mean Relief
Recent economic data presents mixed signals. Growth slowed in Q2, but June saw inflation ease and consumer spending persist. Commercial real estate lenders are becoming more active, yet the Federal Reserve remains cautious. At its July 29 meeting, the Fed kept the...
Chick-fil-A’s $9M+ Per-Unit Volumes Are Rewriting What a QSR Pad Site Is Worth
In commercial real estate, yield is often the headline. But savvy net lease investors know that yield is only one side of the equation. The other side is durability, the confidence that income will keep coming, the tenant will keep renewing, and the property will keep...
What 7 Brew Is Teaching the Rest of Us About Building Fast
A few months ago in Roseville, I drove past a 7 Brew stand and noticed nine cars lined up in the double lane even before I finished parking, prompting me to take a closer look. That sight stuck with me because, in nearly 30 years of developing and managing restaurant...
Interest Rates Changed Everything. Here Is What Smart Developers Did Next
For more than a decade, commercial real estate developers operated in a world defined by cheap capital. Debt was abundant, financing was predictable, and many projects penciled out with relatively little friction. Then everything changed. Beginning in 2022, the...
When QSR Exclusive Use Clauses Become Overly Restrictive
In retail real estate, exclusive use clauses serve a purpose. They prevent tenants from competing directly within the same center. For example, a burger restaurant prefers not to have another burger place open nearby. Similarly, a fried chicken brand would avoid...
The Commercial Real Estate Skills That Will Matter Most in the Next Decade
The commercial real estate industry has always rewarded those who adapt. From the shift to digital listings to the rise of REITs, the professionals who thrive are those who anticipate change and build toward it. The next decade will be no different, except that the...
Nyah Patel – Internship Interview
At LRE & Co, mentoring the next generation has always been more than a good idea — it's a genuine passion. We believe that the lessons learned early in a career can shape a person for life. I started my first job at 15½, working at McDonald's, and the values that...