The Phoenix office was swarming with young, eager faces. No we didn’t hire a bunch of recruits post Arizona State University and University of Arizona graduation; we got interns! Breathing new life into the Cushman & Wakefield internship program, the Phoenix office offered interns exposure to the many facets of the commercial real estate industry.
The program kicked off with a lunch n’ learn with our head of research, Ronan McNulty, who took them through the basics of commercial real estate, starting with how firms like ours operate and what they produce. Topics discussed included: the three ways to value a building, the five main types of commercial real estate and the four asset classes, including real estate. The lunch concluded with a brief discussion of the Phoenix market, the basics of market analysis including demography and site selection and what their teams would look to them to produce.
Mid-way through the summer Greg Mayer, a Senior Director in Cushman & Wakefield’s office group, gave the group an in-depth look into closing a deal, start to finish. As a leasing office broker, he went over the ins and outs of getting a client’s attention, a pitch/presentation, closing the deal and then potentially bringing on a partnering sales team. Greg recently had success with this process for McKesson, which he used as an example. Post project breakdown, he took the group on a tour of the McKesson Scottsdale Campus being built by Ryan Companies located off the 101 Freeway at the intersection of Pima and Chaparral. On the tour they got to see first-hand the stages of a ground-up, build-to-suit project, as well as speak with the developer, Molly Carson.
The summer at Cushman & Wakefield offered interns the opportunities to work on many day-to-day projects with their teams, as well as attend meetings, go on tours and network. Our 2017 class of summer interns have finished up their work over the past few weeks and are now returning to school. However, there are a few stragglers that will be continuing on into the next semester while attending local schools.
A couple of the interns provided feedback about their experience. Here is what they had to say:
“I learned that treating clients with respect, honesty and as though they are the number one priority is the best way to form long lasting relationships, which is lucrative for both sides.” – Mark Frakes, Southern Methodist University
“The most attractive and enticing aspect of working as a C&W intern is the exposure. On any one day you may be creating a PowerPoint deck, touring a property, going to lunch with a client, sitting in on a conference call, or going to a closing dinner, all of which teach the ins-and-outs of the commercial real estate business. The Toci team has done an incredible job illustrating how the methodical, fastidious research behind the scenes leads to successfully conveying a compelling story to clients come curtain call, and telling a compelling, factual backed story is what this business is all about.” – Jared Hirte, University of Arizona