#16 Michael Olson, Rhino Capital Advisors LLC on Commercial Development & Office

Summary: Michael Olson, Managing Principal at Rhino Capital Advisors LLC joins hosts Dan, Ray & Marc to talk about developing office product and the unique features of that sector. Mike explains how he got started in real estate and how Rhino Capital sources their deals from. Mike tries to avoid heavily marketed deals and tells us that most of his deals start with a simple question, “Would you have any interest in selling?” Mike explains one of Rhinos core principals which is ensuring that the real estate meets the business needs of the users, rather than the other way around. We go over some common commercial real estate acronyms, discus typical lease terms, tenant-fit outs and we compare the metro office market to suburban market. Finally, Mike talks about the pros and cons of starting a fund and what it takes to attract institutional capital.