Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/753030
130 S C T / D E C E M B E R 2 0 1 6 Gordon Bros. CEO Mark Dufton has helped some major retailers rationalize their portfolios The cleanup artist A s CEO of real estate for Gordon Bros. (previously DJM Real Estate), a Boston- based global advisory, lending and investment firm, Mark Dufton has presided over some of the industry's highest-profile commercial restructuring deals. The 20-plus-year veteran helped RadioShack sell off its commercial leases as the company navigated bankruptcy, and currently he advises Toys 'R' Us on lease restructuring. SCT spoke with Dufton about his management approaches and practices as well as his view on the state of the industry. How did you get started, and what keeps you in the business? I was in the Army for five years. When I got out, I went to work for a firm that was owned by a fellow West Point graduate. They did some real estate consulting work, and I found that I just really liked it. Over the years I've done development, construction management, property management, leasing and some asset management. I honestly just love looking at properties and seeing the possibilities. I like it on both the commercial and residential sides. I've done some house-flipping with my wife. She owns a construction management and staging business for homeowners. So real estate has kind of been my life. Tell us more about your house-flipping hobby. How extensive is that? My wife and I go to open houses all the time. We've been married 27 years, and I think we've lived in 18 to 20 different places. We like change. We go in, and we renovate places, and then we don't stay very long. Being an executive, you have probably interviewed your share of job applicants. Do you have a preferred interview approach or a favorite set of questions? I'm not one for those 'gotcha' kind of questions. I don't ask much about the nitty-gritty details of someone's experience. I really like to get a feel for their personality, their integrity, their work ethic and how they work as a team. Obviously, you want stuff on the résumé that's pertinent and germane, but I think the cultural fit is just so important. You are often called upon to comment about the condition of the national retail real estate industry. What is your take on it currently? I'd have to say I'm pretty bearish overall. I think we are going to see a continued trend of discount retailers being the most prominent players taking new space. I don't think you are going to see much rent growth at all, and I think you >> N E W S M A K E R S E X E C U T I V E M OV E R S A N D S H A K E R S PATRICE DERRINGTON HAS A THING OR T WO TO TE ACH ABOUT RE AL ESTATE 134 TE X AS STUDENTS WIN AT DE VELOPMENT COMPE TITION 136 REMEMBERING WESTCOR FOUNDER RUST Y LYON 139 PHOTO: G OR DON B ROS.