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Claire Cormier Thielke

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62
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2021-01-19
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2021-01-19
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  1. “I think looking internationally, you can find the patterns a lot of times based on the age of that city. European cities are quite old. But in Asia, you have this explosive growth and this commercialism that's actually quite recent. So as an example, US retailer, you have a lot of these old dead malls. In China, you don't have that because they didn't go through this period where they were all built back then. So now you do have malls, but they're built around this omnichannel world of virtual reality shopping and social shopping and this modern experience. Also, again, China is only as urbanized as the US was at the end of World War II. Step back and think about that. Its cities are still consolidating in a way that's decades behind the US. They are actively building infrastructure to connect.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “40 50 minutes outside of town, but are now trying to think about their commutes, there are a lot of inner rings that are actually quite close to meaningful infrastructure with pretty good square footage and a nice house if you want to start a family. And you're starting to see those come back. So you could go and find a pocket, really transform. You start to your old malls that are left behind that can maybe find their next life. You sort of find the patterns. You think about a bigger theme that you believe in and press in until it's not a good idea anymore.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “To the US, the Eisenhower National Highway Act that really provided funding around defense and also transportation to build the highway network that we know today across U.S. cities. So a lot of cities, they had one straight highway that led out of town and then often they had concentric circles. You have cities that grow in rings. Turning this back to what does that look like in a city that you might know today or what does that feel like? Well, a lot of times, unfortunately, those highways, they had to find a path of least resistance. Unfortunately, that meant a lot of times they were going through poor immigrant or African American neighborhoods. What you see today is a lot of activity to try to rebuild those communities that were really split and torn apart by the highways themselves. But there's also a lot of really interesting and investable growth along those as folks in many cities moved way 30.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “How can I invest into that? Another great one is waterfronts often get left behind as they change. So they start out being very industrial, serving a purpose to deliver goods. They're also a great place to build a highway or a fast roadway along them. So if you think about in Chicago, Pittsburgh, along the water, Minneapolis. But then the city matures. People come back to these city centers and they want somewhere to walk their dog or go for a long run. Often it's private citizens who gather together. They raise money and form a public and private partnership to say, hey, can we clean up this waterfront and make it nice? And you know what's nice? Living and working next to a nice waterfront. So that's a pretty great place to go and start thinking about building the next great office tower or mixed use center. The whole game of this is how can you be early, find those themes and figure out how to really ride that wave and shape.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Of cities went through this period where they have their founding area, which is a downtown center, often right by a waterfront, an American example, but this is pretty global. And then they build infrastructure outward. So in the US, the Highway Act sent highways out of the city for people to build suburbs and then subsequent suburbs beyond that, often leaving behind a city center where people went to work but maybe had a declining tax base and school so it sort of gets left behind. not so much residential activity in that CBD. So this is a story across Houston, Dallas. Name your market. People realize, hey, actually downtown is pretty cool. If I can go down there, there are some really neat old brick buildings. That might be pretty interesting. And so the tattoo kids go back next. Maybe they marry and they get a dog and they start living there and it becomes, how can this become a 24-hour place again? You see these patterns and again you think, okay, well.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “My team hears me say this a lot, but I make a joke. I think everybody should develop your own metrics around this, your own set of rules. But one thing I talk a lot about is the tattoo index. So in any city, you wander around. I personally like to talk to people a lot, ask them, where do they live? Where do they like to hang out? But when you look around and you see somebody who has like a super edgy haircut, cool neck tattoos and arm sleeves are, follow them and see where they're hanging out. And that is the next place. That's the next thing. I would create an entire fund off of just following the tattoos.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “So I think like a lot of investing cities and real estate investing, it's about pattern recognition. Cities, a lot of them rhyme with each other. I mean, a city at the end of the day, it's an API for industry. There's existing infrastructure. There are roadways. There are electrical grids. There are these rules that you're playing within and trying to plug into. When you start to see those principles, you can identify a trend, see where it's investable in that market, make some choices. I use the example of what is a neighborhood where you wouldn't have followed a hundred dollar bill blowing across the street three years ago. But now is where all of the coolest bars are and some emerging coffee shops that people like to walk to in the morning. Every city has that. You go, you walk around, you look and you say, well, what's the investable opportunity in that zone?”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “To visit a company that matters. I'm coming here to do work that matters. He deeply believed in this. He went and built buildings all around the world and built the firm around that concept. Today, the firm has evolved. We do much more than building office space, but that DNA and that sense of detail has remained within the firm. And that flight to quality, meaning that whether the markets are up or down, that tenants will be drawn and that these buildings, these towers, these logistics facilities, that they will stay more.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “So Jerry had this theory around a flight to quality. He believed that people were willing to pay more for design that was better, but that they could really feel. So not just a beautiful building, but inside. He had the view that having a taller door, a nine-foot door into your office created a stronger sense of presence or having a lobby that spoke to you meant that it built the brand of your company. His first big project was building this campus for Shell. And it was the tallest unreforced concrete building in the world, beautifully designed by Philip Johnson. Even to this day, it has this unbelievable sense of place. You want to be near it. It uses the same materials for the skyscraper as it does for the plaza when you're on the ground. So it pulls your eye up. And so when you're arriving there, there is this feeling that I'm coming here.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “My time investing in everywhere from Texas to Poland, Brazil, China, and everywhere in between, but really always focused on what's next.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “One day, my advisor said that Jerry Hines was going to be on campus interviewing. And Jerry Hines was a titan of this industry. He built the entire skyline of my hometown. He shaped the skyline of most of the major cities on globe. And he was really the person who invented this intersection of art and commerce, getting stark architects to build buildings that people actually used, that built office buildings that people would go into in every day. But he had this real focus on what was next from a design and a people perspective. He loved young people. So I was fortunate I met him and he brought me into the fold. And so my first project was building a canvas for Shell. They wanted to build their first campus that was focused on millennial users. And then ever since I've spent”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Okay, I'm excited. Well, I guess, like a lot of people in the real estate industry, I started out with an interest in residential, 10 or 11 years old and the MLS and the online version of the MLS had started to roll out. I loved to get on the MLS, understand the different houses in my neighborhood. The thing is, I'm from Houston, so a city that is famous for its lack of zoning. The city was changing all the time. So I could look and see what had been an old used car lot in just a matter of a year transform into this really interesting mixed-use place with restaurants and apartment buildings and a whole center of gravity. And I just loved it. When I grew up, I didn't know what it was called, but that's what I was where I'd focus and went to university and studied urban planning and heavy.”

    2021-01-19 · Invest Like the Best · Claire Cormier Thielke – The Future of Cities and Real Estate – [Invest Like the Best, EP.209] · IDENTIFIED FROM THE TRANSCRIPT · source