Mark Maughnan, Rob Barse, Ben Hidalgo From left: Mark Maughan, Rob Barse, Ben Hidalgo/photo by: Charles Garnar (composite edited by Steve Lubetkin)

NEW YORK CITY—At the RealShare Net Lease Conference on April 5 in New York City, top professionals in the net lease development world openly shared what they look for when taking on projects. Panelist Mark Maughan, director of net lease investments at Sundance Bay, headquartered in Salt Lake City, UT, said his firm works with many developers and they must have a niche, for example, that’s geographic or tenant-based.

“Some developers are known in a specific region and tenants come to them. Some groups are really good at getting their preferred developer relationship with Dollar General or CVS and they’ll chase a specific tenant all over the country,” said Maughan. Developers can excel at doing value add, buying existing buildings and bringing in tenants. Sundance Bay looks at whether the tenants have a niche, a track record and a balance sheet.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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