Most CEOs conduct market research from boardrooms and spreadsheets. I believe you can only truly understand a market by driving its streets, walking its sidewalks, and experiencing its communities firsthand. My Colleague Victor and I have logged thousands of miles across California, Oregon, Nevada, Idaho, Colorado, and Utah, transforming my vehicle into a mobile command center for identifying the next great development opportunity.
The Philosophy Behind the Miles
“You can’t understand the pulse of a community from a satellite image,” I always tell people. My hands-on approach has guided LRE & Companies through 25 successful years of development across the region. When I drive through a town, I’m not just looking at demographics or traffic counts; I’m feeling the energy, observing the patterns, and seeing opportunities that only reveal themselves at street level.
This philosophy has proven highly effective. We recently gained county approval for a significant 87,120-square-foot retail development in Crescent City, California, located at 915 Washington Boulevard directly across from Super Walmart. The project will add approximately 12,000 square feet of new retail space, highlighting my ability to pinpoint underserved markets with strong growth potential.
The Art of Reading a Community
During our recent drive through the coastal communities of California, we highlighted subtle signs that many developers overlook. “Look at the parking lots during different times of day,” I tell people. “See how people move between stores, where they stop, and what catches their eye. That shopping pattern reveals everything about what’s missing and what could succeed here.”
My keen eye for community dynamics has led to various developments, including AC by Marriott in Sacramento’s Downtown area, Courtyard by Marriott in Woodland, H2 Suites by Hilton, a 38-unit apartment complex in Sacramento, retail projects, and two hotel developments in Roseville. Each of these projects demonstrates a deep understanding of local market needs and growth patterns.
Beyond the Obvious: Finding Hidden Gems
While many developers concentrate on established markets, my roaming approach often reveals emerging opportunities in unexpected places. “Some of my best discoveries happen when I take the exit I wasn’t planning to take,” I share with colleagues. “I’ll see a new residential development going up, notice increased commercial activity, or observe infrastructure improvements that signal change is coming.”
This intuitive approach to market analysis is supported by thorough follow-up research; however, the initial spark often originates from chance discoveries made during my extensive travels.
The Brand Detective
Part of my monthly trips involves what I call “brand scouting”—identifying which national and regional brands are likely to succeed in emerging markets. “I’m always thinking about which restaurant concepts, retail brands, or service providers could fill a gap in each community,” I explain to potential partners. “Sometimes it’s clear—a growing suburb that needs more dining options. Other times, it’s more subtle—a historic downtown that could support a boutique hotel or specialty retail.”
This brand-focused approach has made LRE & Companies especially appealing to franchisees and national brands aiming for strategic market entry. As a company composed of affiliated entities that operate hotels, franchise restaurants, national brand franchisors, and commercial real estate portfolios, LRE offers unique insights into matching brands with ideal locations.
Technology Meets Intuition
While my approach prioritizes hands-on research, I don’t dismiss the role of technology. I have tools for photographing potential sites and instantly researching property ownership and zoning details. “The technology helps me document and analyze what I’m seeing, but it can’t replace the intuition you develop from actually being in these communities.”
Building Relationships, One Mile at a Time
Perhaps most importantly, our travels aren’t just about discovering sites; they are also about fostering relationships with local officials, business owners, and community leaders. “When you show up in person, consistently, people remember that,” I say. “These relationships become invaluable when it’s time to navigate permitting, understand local priorities, or identify potential challenges early in the development process.”
Looking Ahead: Q4 2025 Routes
As we enter the final quarter of 2025, we have outlined extensive travel routes through Oregon and California’s emerging markets. Our targets include several coastal communities experiencing population growth, inland areas benefiting from urban sprawl, and historic downtowns ripe for revitalization.
“Every mile teaches you something,” I reflect as I prepare for my next expedition. “Sometimes it confirms your assumptions, sometimes it completely changes your perspective. But you only get that education by actually making the journey.”
A Message to Brokers and Brands
For commercial real estate brokers and national brands operating in Oregon, Nevada, Idaho, and California, our road warrior approach offers a unique perspective on market opportunities. If you have properties or markets you think we should see, please don’t hesitate to reach out. Some of our partnerships have started with a broker saying, “You need to drive through this area and see what’s happening.”
Terra Quest is a quarterly series following my ongoing quest to identify prime development opportunities throughout California, Nevada, Idaho, and Oregon. Stay tuned for Volume 2, where we’ll explore my latest discoveries and the stories behind them.
Connect with LRE & Companies: For development opportunities, partnerships, or to share market insights, contact me at akkip@letapgroup.com or (415) 491-1500.