IRVINE, CA—While the online marketplace is a viable option or platform for marketing and transacting certain assets, there will always be a need for boots on the ground to assist in asset sales, Cushman & Wakefield's Eric Paulsen tells GlobeSt.com. As we recently reported, Paulsen has joined the firm as managing principal of the Orange County and Inland Empire offices and is based in Irvine, CA. He was previously executive managing director of Ten-X Commercial.

We spoke with the 30-year real estate veteran about C&W's strategy in the markets he is overseeing and how he views the role of the online marketplace.

GlobeSt.com: How would you describe Cushman & Wakefield's strategy in Irvine, Ontario and Diamond Bar?

Paulsen: Orange County and the Inland Empire represent two of the strongest, most desirable, and most competitive commercial real estate markets in the nation, and you have to be able to provide best-in-class people and service lines to your clients to succeed here. I believe the firm does so extremely well.

GlobeSt.com: Having come from the online CRE marketplace, how do you view its role in the industry as compared to traditional brokerage?

Paulsen: You have to remember that the “online CRE marketplace” has been around several decades, with information being disseminated via the Internet through multiple entities such as CoStar and LoopNet, while residential information has been on the MLS even longer. As consumers have gained confidence in buying anything online, it has really only been since 2011 that transacting commercial real estate online has gained acceptance.

To directly answer your question, while no longer at an online firm, I continue to be a believer in the value of transacting in an online marketplace and view it as a viable option/platform for certain assets to be marketed and to transact. Given the fact that most commercial real estate has distinctly individual characteristics, I also believe that there will always be a need for a broker, or someone on the ground to assist in the sale of the asset. The CRE market is cyclical, and online firms will continue to morph and add differing levels of service to solve the needs of both brokers and principals.

GlobeSt.com: How are Orange County and the Inland Empire similar in terms of their real estate markets?

Paulsen: Both Orange County and the Inland Empire are considered highly desirable markets for investors to own assets in, albeit for differing product types, due to demand drivers that we excel in: continued population growth, varied economic engines, excellent weather, prestigious universities and colleges, significant skilled and unskilled labor forces, the unique Southern California lifestyle, plentiful amenities and entertainment and a host of other reasons. In addition, being positioned adjacent to one of the nation's largest ports is another key advantage and market driver. Each of these markets is thriving in its own respect because companies want to be here and people want to live here—all of which continues to attract strong investment in both markets.

GlobeSt.com: What else should our readers know about your move to Cushman & Wakefield?

Paulsen: I am a service- and sales-oriented person at heart and like to contribute, add value and be part of something bigger than myself. I felt Cushman & Wakefield offered me the best opportunity to enjoy where I work, be surrounded by like-minded professionals that had a sincere desire to be the best at what they do and an entrepreneurial environment that supported creative solutions. I am excited to be here and looking forward to continued success.

Instant Insights /

The Online Marketplace's Role in CRE

Related Stories

Recommended For You