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New tenant-rep group plans commercial during Masters

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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.

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  • 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.

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  1. Many serial killer types and psychopaths work as lowly bureaucrats, just waiting to impose their wrath on a powerless person, child, or pet. Don't forget, the BTK killer was a dog catcher.

  2. If a television station wants to improve viewership, get rid of the local blackout. I was born by the brickyard, and have attended 15 or more races. I have children now, I won't attend unless circumstances are perfect. As those with growing families know, they never are. I'm always impressed that upwards of 250,000 people attend the 500. However, as a growing, or, more apt, sprawling city, Indianapolis and its immediate suburbs count almost 2.2 million. Show the race live, let the venue get a kick-back on revenues, and open-wheel racing might have a fighting chance to be relevant again. Just in time for those tax-payer lights to make sense.

  3. John Moore, I too have had the same issue recently. A property next to my house was on the Land Bank and I was interested in purchasing. When I tried to contact Reggie, I got back emails that had nothing to do with what I asked about. Actually my latest response from him was on this past Friday. I had asked about how to buy the property and if it was still available. His response to me was to contact the mayor's office to get the schedule of his appearances. (???) Hopefully the city is able to do something to fix what this guy has done, it would be nice if they would take the properties back and sell them properly so land owners like me and you mother would have a fair chance.

  4. I too work in the industry, with over 25 years of experience and your political spin has probably nothing to do with any rebranding. "Let's dress it up" would have nothing to do with the government "telling us how and what to eat." Give it a political rest. And being a producer for a radio show doesn't mean you've been involved in advertising and branding for 30 years.

  5. Ms. Morris did not understand the ways of the business world, otherwise, like the IMS, she could have petitioned the State Legislature for a handout of State Funds for her charity work. Ms. Morris should consider becoming a state lobbyist for Lemonade Stand Operators.

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