In the Spotlight: Mark Halperin

– Memphis Business Journal –

Through a 35-year career with Boyle Investment Co., Mark Halperin has become a mainstay in Memphis’ commercial real estate industry. He is responsible for the leasing and management of all Boyle’s office properties, a portfolio that encompasses more than 2 million square feet. Recently, he received the 2008 Realtors Commercial Alliance National Award from the commercial division of the National Association of Realtors.

Age: 59

Hometown: Memphis

Education: Memphis University School, University of Tennessee-Knoxville

First job: Arnie Fallon’s Delicatessen at Poplar and Mendenhall.

Family: Wife, Diane

What do you do: Responsible for the leasing and management of Boyle office properties

Like best about job: Colleagues

Like least about job: Never enough time

Pet peeve: cell phone etiquette

Most important lesson learned: Never quit.

Person most interested in meeting: Warren Buffett

Most respected competitor: David Peck

Career goals: Make every deal.

First choice for a new career: Real estate

Favorite quote: “Loose lips sink ships.”

Most influential book: “Tuesdays with Morrie”

Favorite cause: Make-A-Wish

Favorite status symbol: Bentley convertible

Favorite movie: “The Shawshank Redemption”

Favorite restaurant: Erling Jensen

Favorite vacation spot: Carmel, California

Favorite way to spend free time: Golf and travel

Favorite stress reducers: Walking

Favorite musicians: Diana Krall

Automobile: Infiniti M45

Will the healthy office leasing market slow in 2009 as economic pressures continue to mount?

Activity in the office leasing market is slowing down as a result of the general economic environment. As more businesses have either slower growth or declining revenues, there will be a concerted effort to reduce operating expenses, which will obviously affect the office market. The very top end of the market has continued to have a reasonable level of activity, however, a slower velocity than we have seen over the previous couple of years. The overall market’s vitality is determined by the balance of supply and demand. In the very top tier of the market, supply has been limited. In spite of the fact that demand has been lower, rental rates have remained stable as a result of this limited supply. In past market downturns, supply has greatly outstripped demand, intensifying the market decline.

Current market conditions are more balanced and equip us to weather the increasing slowdown in demand more comfortably than in past cycles. We anticipate some increase in supply as a result of declining employment and potential sublease additions to the market. 2009 will see the current slowdown continue, but as is always the case, Memphis maintains a much more stable market with limited highs as well as less painful lows.