doug hutcheon is an associate at Florida ROI Commercial Property Brokerage. he is a family man who graduated from azusa pacific university near los angeles. hutcheon works in roi’s restaurant division, and as such, is an expert on restaurant real estate trends in the tampa bay area and beyond. this month, we sat down with hutcheon to discuss his career in commercial real estate
q: what drew you to real estate, and commercial real estate in particular?
hutcheon has worked in commercial real estate for almost a year and a half. he’s been working with roi for about a year now. he credits roi’s broker, eric odum, with convincing him to pursue commercial real estate. “i originally thought i was going to do residential real estate,” he explained “eric told me about the hospitality division of commercial real estate – that there was a gap in the market concerning restaurant real estate.”
q: you work in the restaurant division of roi. can you speak to restaurant expansion in the tampa bay area?
hutcheon says that right now restaurant operators are locally focused. “people want hyperlocal,” he explains “a lot of the growth we’re seeing right now is with coffee shops and microbreweries. most operators are on their first or second location. if it’s their second, there is usually an established location in tampa and they’re opening up a second location in st. pete or vice versa.”
hutcheon says the rise of coffee is nothing new (just reference the rocket-speed expansion of starbucks) but the trend is still holding strong, and he has a theory as to why. “when i was a kid, you never saw teenagers at coffee shops, it was all business people. it certainly wasn’t a social affair. now, there’s an expanding market, with kids as young as sixth or seventh grade going to coffee shops to drink coffee and socialize.”
as for microbreweries, hutcheon sees many operators inspired by local breweries gone national such as cigar city. additionally, the microbrewery is still something new and exciting. “it’s not just ‘grab a 12 pack of bud light at the corner store’ anymore. it’s an experience and a social setting.”
q: what are your top tips for sellers in commercial real estate? top tips for buyers?
hutcheon suggests that commercial real estate sellers consider allowing restaurants to lease. “strip malls in particular have spaces empty for a long time. consider installing a commercial kitchen and it’s less likely that your space sits empty for six to twelve months.”
as for buyers? hutcheon returns to the old real estate adage “location, location, location.” he advises to follow the trends of other operators who are expanding. “find out where they’re going, where is generating the buzz?”
watch our press release page for more work from doug hutcheon, or contact him at (727) 453-2920.
profile on associate doug hutcheon
doug hutcheon is an associate at Florida ROI Commercial Property Brokerage. he is a family man who graduated from azusa pacific university near los angeles. hutcheon works in roi’s restaurant division, and as such, is an expert on restaurant real estate trends in the tampa bay area and beyond. this month, we sat down with hutcheon to discuss his career in commercial real estate
q: what drew you to real estate, and commercial real estate in particular?
hutcheon has worked in commercial real estate for almost a year and a half. he’s been working with roi for about a year now. he credits roi’s broker, eric odum, with convincing him to pursue commercial real estate. “i originally thought i was going to do residential real estate,” he explained “eric told me about the hospitality division of commercial real estate – that there was a gap in the market concerning restaurant real estate.”
q: you work in the restaurant division of roi. can you speak to restaurant expansion in the tampa bay area?
hutcheon says that right now restaurant operators are locally focused. “people want hyperlocal,” he explains “a lot of the growth we’re seeing right now is with coffee shops and microbreweries. most operators are on their first or second location. if it’s their second, there is usually an established location in tampa and they’re opening up a second location in st. pete or vice versa.”
hutcheon says the rise of coffee is nothing new (just reference the rocket-speed expansion of starbucks) but the trend is still holding strong, and he has a theory as to why. “when i was a kid, you never saw teenagers at coffee shops, it was all business people. it certainly wasn’t a social affair. now, there’s an expanding market, with kids as young as sixth or seventh grade going to coffee shops to drink coffee and socialize.”
as for microbreweries, hutcheon sees many operators inspired by local breweries gone national such as cigar city. additionally, the microbrewery is still something new and exciting. “it’s not just ‘grab a 12 pack of bud light at the corner store’ anymore. it’s an experience and a social setting.”
q: what are your top tips for sellers in commercial real estate? top tips for buyers?
hutcheon suggests that commercial real estate sellers consider allowing restaurants to lease. “strip malls in particular have spaces empty for a long time. consider installing a commercial kitchen and it’s less likely that your space sits empty for six to twelve months.”
as for buyers? hutcheon returns to the old real estate adage “location, location, location.” he advises to follow the trends of other operators who are expanding. “find out where they’re going, where is generating the buzz?”
watch our press release page for more work from doug hutcheon, or contact him at (727) 453-2920.