To celebrate National Intern Day, we asked our summer interns a few questions about their time here at Stream. Here are some of their responses:
What’s one thing you know now about CRE that you didn’t know before your internship?
A lot of work goes into each deal in brokerage, from touring to proposals to creating the broker deal sheet. Stream Atlanta has been willing to teach me more about commercial real estate and helped me challenge myself to want to learn more.
— Rachel Nicholson, Atlanta
One thing I have learned about CRE during this internship is how private equity deals work in CRE and the distribution of money between the GPs and LPs going in and at the exit.
— Garrett Jones, Atlanta
When doing business, discussing things other than business with partners will often bring about success. Caring for other people and being interested in their lives will build lasting relationships that benefit both parties through mutual trust.
— Will Forth, Atlanta
The importance of market knowledge and how it can set you apart as a broker, even at a young age.
— Danny Phillips, Austin
I’ve learned more about the importance of making and keeping up with relationships in CRE.
— Clark Grigsby, Austin
Before my summer internship, I did not know that free rent could be outside the lease term. I understand how it could benefit the landlord.
— Ben Joyner, Charlotte
The one thing that surprised me the most about CRE that I didn’t know before my internship was the sheer amount of data collection that goes into every deal. At every level of CRE, data and analytics are key.
— Freddie Woltz, Charlotte
I’ve learned how the office agency leasing pitch process is executed. It has been interesting to learn about the creativity that goes into a presentation and how good relationships truly are a driving point in this process.
— Emily O’Connell, Chicago
Collaboration is crucial to the success of brokers. I think many people have the perception that CRE brokerage is very individualistic, but it is the opposite.
— Harrison Hyland, Chicago
I didn’t realize how different the development of each product type could look. I have been fortunate to have seen both the industrial and office-mixed use sides of development. While they have similarities, each product type comes with different characteristics, challenges, and personality types that have been fun to observe and learn about.
— Tatum Meeks, Dallas
How deals work in the market. The significance of data and knowing your area.
— Camryn Wisenbaker, Fort Worth
I learned the number one value you can possess is knowledge of your market; know what is under every rock. Know every building, every lease agreement, how much leverage it holds, etc. People sell for the craziest of reasons, so knowing the market will put you in a good position for when those things happen.
— Hannah Nenadic, Greater Los Angeles
I learned how important current information is in each submarket.
— Jack Scholz, Houston
I have learned how much commercial real estate differs according to the market. For example, in Washington, D.C., there is a 14-story building requirement that keeps the market consolidated and competitive. However, in Northern Virginia, there is no limit for office building height, and the leasing credentials are entirely separate. Overall, CRE can take many different shapes and forms according to location and context.
— Blaire McGavin, Washington, D.C.
How has your internship shaped your career goals?
I am confident that I want to work in the commercial real estate industry upon graduation. The Atlanta office has been so welcoming, and because of the positive experience through Stream, I am also interested in living in Atlanta full time.
— Rachel Nicholson, Atlanta
It has increased my passion for CRE. I have always wanted to get into commercial real estate but never had a full understanding of exactly what it was. This internship has showed me what CRE is and the benefits and opportunities that come with it.
— Garrett Jones, Atlanta
I can see my career in real estate beginning to unfold, and brokerage has the potential to be a path that I would thoroughly enjoy.
— Will Forth, Atlanta
This internship created genuine excitement to work in the CRE world and allowed me to realize the importance of effort and honesty in the workplace.
— Danny Phillips, Austin
Exposure to different product types, career paths, and positions in my office has helped me to better structure my career goals and identify paths to pursue.
— Ben Joyner, Charlotte
I enjoy the unpredictable pace of my day-to-day experience, and I like the tangible nature of real estate. The mix of the analytical and interpersonal also make CRE the field I want to continue to grow in. Before this summer, I wasn’t 100% sure that real estate was what I wanted to do. Now, I am sure that real estate is where I need to be.
— Freddie Woltz, Charlotte
My internship with Stream has reaffirmed my goal to enter CRE brokerage after graduation and has helped me develop ideas about what areas of the field I will be able to best utilize my strengths.
— Harrison Hyland, Chicago
Exposure to the various tasks and responsibilities has only validated the fact that I can see myself thrive within commercial real estate and find the work I do meaningful.
— Sharon Mezo, Dallas
I didn’t know what exactly I was getting into when I took this position on the development team, but I have learned that this is the type of work that really excites me, and I would like to continue after graduation. I also came into this position interested more in industrial than office, but I have learned I really enjoy both.
— Tatum Meeks, Dallas
My internship experience has confirmed that I want to make real estate investing my career. I’m going into the final year of my MBA program, and I packed my schedule with as many real estate-related courses as I could so that I can hit the ground running when I graduate.
— Matt Brandon, Dallas
This internship has exposed me to the day-to-day on the development side to brokerage and leasing of all assets and helped me find where I see myself being successful in the industry long term.
— Hannah Nenadic, Greater Los Angeles
My internship so far has definitely helped me narrow down my choices for what side of the industry I want to pursue after college.
— Hunter Hernandez, Houston
My internship has intensified my interest in a career in commercial real estate, particularly in brokerage. Initially, I anticipated that I would prefer tenant rep since it has a higher percentage of commission. However, my focus has narrowed to landlord rep since I love working with the deal from the building side.
— Blaire McGavin, Washington, D.C.