Beyond the Resume Podcast with Anthony Scavo

Beyond the Resume

The Impact Real Estate Podcast is now "Beyond the Resume"! On this episode, your co-hosts Chris Papa and Lisa Flicker talk with Anthony Scavo, the COO of Basis Industrial. Anthony discusses the evolution of the firm from self-storage to multi-tenant industrial assets. He shares insights on operational strategies, the importance of team culture, and recruitment challenges in the real estate sector. Anthony also outlines the company's growth plans and reflects on personal experiences in the industry, emphasizing the need for adaptability and strong management practices.

Apple Podcasts: https://apple.co/3I3nkG9

Spotify: https://spoti.fi/35ZJGLT

Web: https://www.jacksonlucas.com/podcast/anthony-scavo

Chapters

02:50 Management Company and Third-Party Lease

05:46 Capital and Competition in the Industrial Market

08:43 Choosing Multi-Tenant Light Industrial over Outdoor Storage

10:15 Regulation and Zoning in Real Estate

11:12 Managing and Upgrading Multi-Tenant Light Industrial Properties

14:15 Raising Rents to Market Value and Providing a Better Tenant Experience

15:49 Balancing Institutionalization and Nimbleness in Operations

19:36 Lessons Learned from Lefrak and Katz & Matias

22:18 Joining Basis Industrial and Transitioning from Self-Storage

24:07 Basis Industrial's Offices and Corporate Structure

25:26 Living in Florida and New York

26:08 Pace of Life in Florida and New York

28:03 Scaling a Business and the Need for Institutional Capital

29:04 Setting Up Systems for Institutional Capital

30:32 Generational Shifts and the Changing Landscape of Businesses

34:58 Building a Strong Company Culture in a Remote Work Environment

36:35 The Challenges of Recruiting for Property Management

Takeaways

Basis Industrial rebranded in 2021 to focus on multi-tenant industrial assets.

The firm manages over 3 million square feet across Florida and Texas.

Multi-tenant industrial spaces are seen as recession-proof due to their tenant diversity.

Effective management practices can significantly increase property value and tenant retention.

Recruiting and retaining good property managers is a significant challenge in the industry.

Building a strong team culture is essential for operational success.

The transition from self-storage to industrial assets was driven by market conditions and opportunities.

Scavo emphasizes the importance of personal connections in remote work environments.

Future growth plans include expanding to 15 million square feet in five years.

Scavo's background in real estate has shaped his approach to management and operations.