IBJNews

New tenant-rep group plans commercial during Masters

Back to TopCommentsE-mailPrintBookmark and Share

One of the city's top office brokers is launching a new tenant-rep group with a TV commercial after the Masters golf tournament on Sunday.

Jon R. Owens, a principal and senior vice president in the local office of Cassidy Turley, said the spot was filmed on Monument Circle and will air on CBS following the awarding of the Green Jacket and before 60 Minutes.

The three-broker team, dubbed The Owens Group, includes former developer Brian K. Meeks, also a principal at Cassidy Turley, and attorney Russell A. Van Til, a senior associate. Together, they have 55 years of real estate experience.

"In this environment, with competition the way it is, we’re of the opinion it’s hard for users to differentiate one broker from another," Owens said. "It’s a relationship business, always has been. But there are definitely people out there who aren’t sure who to turn to."

The group, which will operate within Cassidy Turley, hopes to shake up the world of tenant representation. Television advertising is unheard of for commercial real estate firms. The Owens Group also has posted videos on YouTube outlining its services.

"Commercial real estate can be pretty mundane, and this economic downturn hasn't really served to weed out the ranks of commercial brokers," Owens said. "We don’t know of anybody who has done this. (Cassidy Turley Managing Principal) Jeff Henry looked at me like, 'Huh?'"

For the brokers, the advantage of drumming up tenant-rep business is to give them more control over the process. If you control a tenant, you're probably going to do a deal somewhere. Representing landlords, on the other hand, means chasing a lot of deals that never materialize.

There's also a commission advantage. Market-rate commission for tenant-reps averages about 4 percent, while brokers representing landlords earn 2 percent to 3 percent.

Finding the right space for a client is a "more gratifying experience," Owens said.

But that doesn't mean Owens is giving up listing properties for landlords. He and his partners in The Owens Group have several prominent listings, including M&I Plaza and the office space at Lockerbie Marketplace.

ADVERTISEMENT

  • YAWN
    Y A W N - Maybe they should add in a juggling routine- Talk about stale.

    Boring!
  • True T-rep
    A "tenant rep" group within a company that lists 10s of millions of square feet? Mr. Obvious says â??I canâ??t imagine a conflict will arise,â?? with thick sarcastic tone.
  • Nice Job
    Way to be different, Fellas...nice job!
  • HAHA
    Brizzi and Durham must be involved! Get on it Cory!! LMAO
  • Dumbbbbbbbbb
    this is so stupid
  • Because...
    "..We donâ??t know of anybody who has done this.." That's because most firms realize it is a waste of money.

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.

ADVERTISEMENT