Today we talk with Derek Waltchack, partner at Shannon Waltchack, about his personal perspective on the retail market in the southeast.
Today we talk with Derek Waltchack, partner at Shannon Waltchack/TCN Worldwide, about his personal perspective on the retail market in the southeast. While many investors steer clear of retail, especially when retail assets like malls are not doing so well, Derek sees opportunity within the retail sector in a specific asset class.
Key Discussion Points
[00:17] Welcome and introduction by Eric Odum
[00:34] About our guest, Derek Waltchack
[01:14] Tell us about your firm, what you're working on, and how you ended up there
[03:38] Tell us why you are bullish on convenience retail
[07:25] Is there certain tenancy and co-tenancy situations you feel more strongly about than others?
[10:47] Give us an overview of the markets you are participating in within the southeast
[13:08] What Cap Rates are you seeing?
[18:55] Where do you think the market is headed?
[24:06] Tell us about your new podcast show, Brokerlord
[28:11] How can folks get in contact with you?
Partner, Shannon Waltchack/TCN Worldwide
As urban revitalization thrives in Birmingham, Derek’s leadership stands out as prominent force. He put his initial stamp on downtown Birmingham in 2010 with commercial development near the city’s new Railroad Park, spearheading a $4.5 million renovation that transformed a 100-year-old warehouse into a cutting-edge business center known as Railroad Square. In May of 2013, Shannon Waltchack launched yet another progressive move, Birmingham’s first crowd-sourced development. By popular vote, the development is now known as The Stockyard @ Railroad Park and includes commercial space using shipping containers, another first in Birmingham. A recent article in The New York Times lauded the progress in downtown Birmingham, featuring Derek as a key player.
In 1998, Derek was recognized as a Top Producer among all commercial agents in the city, achieving a level of $20 million in transactions, the youngest agent ever to have received this award. In 2013, Derek was named the Commercial Member of the Year for Alabama by the National Association of Realtors (NAR).
Derek has served on the board of directors for the Vestavia Hills Parks and Recreation Foundation, the Boys and Girls Club of Central Alabama, the Shades Valley YMCA, Business Advisory Board for the Brock School of Business and the Chestnut Growers of America.
In his free time, Derek maintains a chestnut tree farm, keeps bees, grows pumpkins and has started Alabama’s only truffle orchard. Derek and his wife, Rushton, and their five children attend Covenant Presbyterian Church.
Derek can be reached at 205-977-9797 or emailed at email@example.com.