by Larry Lombardi, on Jan 24, 2022 8:19:35 AM
OBX CRE Spotlight
Ned Williams
Vice President, Investment Real Estate
Q
Quick Facts
- I grew up in Virginia Beach and have lived here since it was a small resort town.
- My wife is Debra
- We have two children who live in Boston and New York and one grandson.
- We have two dogs, Sophie (a Brittany) and Stella (a Lab).
- I have deep family roots in Currituck County and have great memories from many years there.
- Our favorite place to visit is New York City because of the diverse urban environment with many parks and communities.
- My real estate business focus on investments and development services.
How long have you been working in commercial real estate?
42 years
How did you first get into real estate?
After finishing at Old Dominion University with a degree in finance I was hired by a local business park developer with projects throughout Hampton Roads to work with tenant relations (leasing) and property management services.
What was your first CRE transaction?
I worked with a team on leasing warehouse space to CACI in support of their international logistics activity.
What was your most memorable CRE transaction?
At the corner of Northampton Boulevard and Burton Station Road in Virginia Beach I listed five adjoining parcels and with that assemblage I attracted a developer which resulted in 2 hotels and a small retail strip.
What's your favorite part of working in CRE?
The challenge of working with a property to assess the best potential use and being involved in the process of bringing that project to completion. This involves evaluating the location for the demographics, and its access and visibility.
If you had to sell only ONE kind of commercial property, what would you choose? And why?
Urban infill and repurpose property. Over my career I have working with every type of commercial property and understand that success is dependent on location characteristics.
What's the first question people always ask you when you tell them what you do for a living?
“Can you find a great investment for me?” I like this question because it leads to a conversation about experience, expectations, and risk tolerance.
What’s the biggest misconception about CRE?
People often don’t recognize the amount of time and effort that is necessary to be effective in providing top quality service for clients.
What global CRE trend or market segment do you think will have the most impact locally?
Advancements in technology are impacting how and where people work and want to live. With changing work force patterns, we are likely to see increased urban and suburban development in southeast Virginia and northeast North Carolina. Also, this area will continue to grow as an attractive place for retirement because of our climate and central mid-Atlantic location.
How would you describe the commercial real estate market in northeastern NC and the Outer Banks?
Currituck and the surrounding counties are well positioned to experience increasing demand in all sectors of commercial development because of the existing and growing population trends.
Can you share one great piece of advice for someone looking to buy/lease commercial property or land?
Engage with experienced professionals who can advise on market conditions, the public and governmental approval requirements, funding, and an exit strategy.
You get five acres and an unlimited construction budget. What do you build and where?
A mixed-use development that includes service and retail which is very near or a part of residential development.
What was the last book you read?
All The Kings Men by Robert Penn Warren. It’s old, but relevant.
What's one movie you love to rewatch?
Die Hard with Bruce Willis. It is a Christmas movie.
What's one thing most people might not know about you?
A large part of my family is from north Currituck County, and I have spent a lot of time at our cottage on Tulls Bay. My love of the outdoors is rooted from there with fishing, hunting, and sailing… occasionally to Corolla.
Do you collect anything?
I have a lot of interest in gardening and my collecting is mostly of plants and tools for that. Gardening is like fishing…. there’s always more cool stuff available.What is your favorite thing about the Outer Banks?
My experiences are mostly from the Sound side with fishing, duck hunting, sailing Hobie Cats and amazing holiday weekend parties! The great early morning beauty and solitude.
What's your favorite way to spend your free time?
I enjoy being in a garden, either mine or others, ideally with Debra.
What inspires you?
Creative people who are open to new ideas and possibilities which contribute to business opportunities and the quality of life we enjoy.
Contact Info
Ned Williams
nedwilliams@harveylindsay.com
(757) 754-6412
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