#303 - Chris Hatch - Principal @ NNN Income - Born to Develop NNN Properties
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Show Notes
Chris is proud to be a 6th generation Utahn and a 3rd generation commercial real estate developer. His career has focused on helping people build their cash flow in commercial real estate and having fun while doing it. Chris has been involved in over 1,000 drive-thru deals throughout the mountain and desert states throughout his career. Chris joined the brokerage community in 2002. He spent tireless hours helping multiple national retailers such as Dollar Tree, Starbucks Coffee, Verizon, Wendy’s, and Wells Fargo expand throughout the Intermountain area. In 2008 he chose to pivot his career into the investment sales side of the shopping center business. From 2008 to present he has been involved in over $2.0 Billion of retail investment sales with a primary focus of representing family offices looking to acquire additional assets for their portfolios.
On this episode, Chris and Chris discuss:
- Why Salt Lake City is a fantastic place to work and live
- Adopting a child from Tonga
- How Chris develops sites for national retailers
- What makes a great development site
- The science of the Drive-thru
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Links
Topics
(00:02:02) The hidden gem of Salt Lake City
(00:05:32) “We need to have another baby”
(00:14:33) Chris’ role at Triple Net
(00:16:07) What makes a great site-selection person?
(00:18:14)What are the characteristics of a tenant you want to work with?
(00:20:42) How do you get in the door with these tenants to become their developer?
(00:25:08) How should one look at buying a Dutch bros. vs. a building that could host multiple tenants
(00:28:15) The importance of the Drive-thru
(00:31:33) Exclusive use provisions
(00:33:02) Best practices for structuring leases
(00:35:01) Providing a developer’s perspective
(00:37:23) Why would someone buy a building like yours instead of buying treasuries?
(00:42:01) The decision to enter MF development
(00:45:16) Family breakups
(00:52:30) The Red Lobster to Olive Garden story
(00:59:18) Modular buildings
(01:02:46) Chris on taking 30-day vacations
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