by Larry Lombardi, on Aug 16, 2021 8:30:00 AM
OBX CRE Spotlight
Gresh Wall
Managing Director, Hampton Roads
Q
Quick Facts
- Born in Charlottesville, VA
- Raised in Virginia Beach, VA
- University of Virginia grad, BA Communications
- Married to Caryn
- Children: Kenzie (20) and Gresham (19)
- Pets: Obi - 5 year old black lab
- We are a beach family and we spend a lot of time back and forth between Virginia Beach and the OBX
How long have you been working in commercial real estate?
31 years.
How did you first get into real estate?
I worked for a property management company in college and got my first taste of real estate. After graduation, I decided to pursue a career in commercial real estate and started my career in Tysons Corner where I worked in market research, appraisal, financial analysis, and then ultimately brokerage & consulting.
What was your first CRE transaction?
First transaction in Hampton Roads was the lease of the former Chesbay Brewing Building (10,000 SF) at 1373 London Bridge Rd. to McCombs Brothers Moving and Storage Company. I still work for that landlord and continue to lease that building - the landlord is my longest running client and he is not only my client, he is now a longtime friend!
What was your most memorable CRE transaction?
- Sale of +/-40 acres in Greenbrier to Cox Communications for a new regional headquarters location
- Sale of the original 45,000 SF Cox Communications Building in Virginia Beach to Urology of Virginia
- Representation of Titan Corporation in the relocation and lease of 25,000 SF for a regional HQ in the Twin Oaks Buildings
- Representation of Sports Medicine and Orthopedic Center (SMOC) in the acquisition of medical development sites and lease up of new buildings in Suffolk (Obici) and Chesapeake (Oakbrooke)
What's your favorite part of working in CRE?
No two days are ever the same! This business is constantly changing and evolving and you can learn something new with each and every transaction. This business keeps you on your toes and never gets old!
What's the biggest misconception about CRE?
The biggest misconception is that it is a cushy job. You have to work hard, have thick skin, and maintain an optimistic and positive attitude to survive the wild ups and downs of this business. Not for the faint of heart!
How would you describe the commercial real estate market in northeastern NC and the Outer Banks?
I always enjoy opportunities to represent owners and tenants in the OBX and Currituck County as I find the markets to be unique and challenging in their own ways. The people I have worked with in Northeastern NC are some of the most honest and hardworking business owners I know and they are always so appreciative of professional guidance and fair treatment. I also just love any excuse to head south of Virginia Beach - it's beautiful terrain!
Can you share one great piece of advice for someone looking to buy/lease commercial property or land?
The old adage that time kills deals! When it comes to real estate decisions, you should always take your time making good decisions - but don't let too much time slip away from you because you never know what the next days hold!
What is your favorite thing about the Outer Banks?
Annual family vacation in Southern Shores with 23 of my closest family members. One week in NC with my crazy family is is enough to make work seem sane! PS - We liked it better when the cell service was spottier!
What's your favorite way to spend your free time?
An early morning jog with the dog, a cup of coffee on the beach, fishing with the kids during the day, a big family dinner with a tall glass of wine, and an evening stroll on the beach with my wife!
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Featured Property
Timbuck II Shopping Center in Corolla
Three multi-tenant retail buildings within the Timbuck II Shopping Village located in Corolla, North Carolina. The three buildings are the West Building, South Building, and East Building, total 37,264 square feet. The entire Timbuck II Shopping Village has a total of 728 parking spaces which are shared among the owners in the condo association.
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