Grant Ehat- From Cold Calling to Creating Vibrant Retail Environments (#105)

Bio Grant Ehat, Managing Partner, Willard Retail Grant directs the acquisition, business development and anchor leasing activities at Willard Retail. With more than 28 years of experience in the commercial real estate industry, he is actively involved in the entitlement, design, and development processes for the company’s pipeline. Before founding Willard Retail, he co-managed the retail portfolio and led the acquisitions of JBGR Retail for 15 years. Grant’s development history includes more than one million square feet of ground-up retail development and over 1,000 residential units at some of the Washington area’s most notable projects such as North Bethesda Market and Market Square at Frederick in Maryland; 77 H Street in Washington, DC; and Woodland Park Crossing, Kings Crossing, and 1700 Duke Street in Virginia. He holds a B.B.A. from James Madison University, is a licensed real estate broker in Virginia, Maryland, D.C., and Pennsylvania and is an active member of ICSC and ULI. Additionally, Grant sits on the board of the Arlington Free Clinic. Show Notes Grant’s role at Willard Retail (00:04:50) Grant discusses his decision to start Willard Retail and his role in the company. Finding a capital partner for Willard Retail (00:06:40) Grant talks about finding a capital partner and the challenges they faced in the process. Grant’s and Magic’s roles at Willard Retail (00:07:30) Grant explains his role as the originator of deals and his capital relationships, while Mike Majestic’s (Magic’s) role involves quantitative skills and urban planning. Grant’s upbringing and parental influences (00:09:15) Grant shares about his upbringing, parental experiences, and influences from his mother and stepfather. Early career experiences (00:15:30) Grant discusses his early jobs in sales and his transition to selling land, including the challenges and successes he faced. Transition to retail leasing (00:23:00) Grant talks about his transition to retail leasing, his time with Weisberg, and his move to JBG as a retail leasing director. The early career and company growth (00:27:00) Grant discusses his early job offers and the growth potential he saw in JBG, leading to the company’s expansion and the merger with the Rosenfeld family assets. Impact of Hechinger bankruptcy (00:29:50) Grant explains how the Hechinger bankruptcy provided opportunities for anchor deals and the merging of family assets, leading to a significant shift in the company’s portfolio. Leasing and retail viability (00:31:30) The conversation delves into the multifaceted approach required for retail leasing, including understanding center merchandising, retailer viability, and negotiations. Evolution and challenges in retail (00:35:10) Grant discusses the challenges faced by retailers, including the difficulty for mom-and-pop stores and the ever-changing landscape of retail conc...