Oct 23, 2020
Matt Goode, Principal of Venture One Real Estate joins the Podcast to discuss the firm's value-add acquisitions platform and ground up development business. The company is active across nearly every submarket in Chicago and recently branched out to the East Coast. Also hear about Matt's personal background and a recap of several successful transactions locally with the JLL Chicago Industrial Team.
1:30: Matt reflects on the benefits of starting his career as a development analyst at a publicly traded REIT.
6:22: Venture One recently opened an office in New Jersey and is looking at acquiring property in that market as well as in New York City and Long Island.
8:11: The 20 distinct submarkets of Chicago don’t necessarily compete with each other.
12:25: When looking at acquisitions, we look past components of a building which somebody else may see as a detriment to the property.
14:40: With the former WMS Building in Waukegan which had a lot of amenities, we were able to offer a heavy amount of office space at a significant discount to replacement cost.
20:00: There may be opportunities for industrial developers to partner with retail owners.
23:30: We want to buy functional properties that work for a wide variety of users.
28:32: Core pricing today for industrial is more aggressive than it was coming into the pandemic.
42:36: Despite Covid cancelling the Chicago Marathon, Matt ran his route along the Des Plaines River Trail and raised money for Lurie Children’s Hospital.
44:15: Matt credits his grandfather, who owned a real estate brokerage company, and his father Mark Goode as mentors.