Written by The Business Journal Staff
Jeff Davis, Broker
Davis Commercial Real Estate Services in Clovis
What we do:
I opened Davis Commercial in April 2001 after a 13-year career with Grubb & Ellis/ Pearson Commercial. While there, I specialized in the sales and leasing of office and office-warehouse properties and the sales of investment properties. I currently handle sales, leasing and offer consultation services for all types of commercial property, but the majority of the transactions are still office related.
I graduated from CSU, Fresno in 1985 with a Bachelor of Science degree in Business Administration-Finance.
I have also taken various courses with the Commercial Investment Real Estate Institute and completed a course in commercial real estate offered through Grubb & Ellis.
Children: Sons, Steven (26) Lives in Clovis and is an emergency room nurse, Nicholas (10), Jacob (8).
What are some of the projects you have been involved in, Jeff?
I recently assisted Hinds Hospice in locating and purchasing their new 42,000 square-foot administrative building located at 2490 W. Shaw Ave. We did a citywide search and found a great deal on a foreclosed property that fit their needs quite well. I also sold the Old Town Station in Clovis, a 30,000 square foot mixed use office-retail building on Clovis Avenue. We made the decision to eliminate the restaurant on the top floor and convert it to offices, while emphasizing retail use on the ground floor. My office is located there and I continue to handle the leasing. Leasing activity has increased and we expect to be mostly full by the end of the year. In addition, I recently completed a long term lease to a local pre-school for a building that was left vacant after a major day care provider moved out.
How did you get involved in the commercial real estate business, Jeff?
I actually had planned on becoming a stockbroker after college and interviewed with a couple of companies soon after graduation. They said thanks for applying, but they rarely hire anyone under the age of 30 and all candidates must have sales experience. I then was offered a position as an advertising sales representative for the Clovis Independent newspaper. I accepted the position in order to gain the needed sales experience. I did that for two years and realized the opportunity for advancement there was limited. Since my father is a real estate broker, I had obtained my license several years earlier. I decided to finally put it to use and soon landed a sales position with a prominent local homebuilder. After about a year there, the subdivision was sold out and the next one was not going to be ready to sell for at least six months. I did not have the means to be without an income that long so a friend already in the business suggested I give commercial real estate a try. I soon had offers from three companies before accepting a position with Pearson Commercial.
What do you like most about your job, Jeff?
I love the freedom of being my own boss and choosing what I work on. In addition, I get great satisfaction solving client’s problems and establishing ongoing relationships with them.
Have construction, leasing and purchases picked up some over the past year, Jeff?
Leasing activity has recently picked up and I think it will continue. There is still plenty of existing office space available, so it may be a while before any major speculative office construction begins. Most developers that are now building are doing so with committed tenants and signed leases. I know there are many commercial projects in the planning stages just waiting for the market to make a more complete recovery. With continued low interest rates, the sales activity should improve as well. One of the main factors holding back sales is unrealistically priced properties. Many sellers bought at the peak of the market and the values have not returned to that level. Unfortunately, their property is worth less than they paid and they are reluctant to sell for less. In addition, the economy has not improved as much as the government would like us to believe. There are many struggling businesses that continue to be cautious about expansion or relocation.
What is your key business strategy, Jeff?
Since what I offer is purely service, I emphasize honesty and integrity when dealing with clients. I know that sounds a bit like a cliché, but I have made the commitment to be in the business a long time and satisfied clients are what fuels repeat business. I have probably cost myself business from not telling a potential client what they want to hear. On the other hand, I have many long-term clients who appreciate the fact that I have dealt with them fairly. Many clients have had negative experiences when dealing with brokers in the past and it is important they know they are working with someone they can trust.