JEFF ARCE

What this episode covers

Jeff Arce and his partners run businesses ranging from large commercial real estate developments to retail operations Starbucks, Jamba Juice and PF Chang’s. Working with one of Hawaii’s most dynamic and successful entrepreneurs, Jeff got his entrepreneurial start with Blockbuster Video. Some of the better Known MacNaughton Group projects include Costco, Waikele Center, Maui Marketplace, Hokua and Capital Place and some of the retail tenants that the MacNaughton Group has brought to the islands include Costco, Kmart, Borders Books & Music, Pier One, The Sports Authority and Office Max. Jeff shares with us what it’s like to come from the mainland and how to fit in with Hawaii locals. His insight into business, family and community are priceless. Some questions asked: Welcome Jeff, can you tell us about the MacNaughton Group and what they do? Does The MacNaughton Group have a stated business strategy or a “mission statement”? What is your role in the company? You are originally from California. How did you end up in Hawaii? Was the transition from California to Hawaii difficult? What was the biggest surprise about Hawaii? Could you share with us a story about your transition and how it was being a “haole.” What made you decide to leave the comforts of a large accounting firm, and join a start up business like Blockbuster Video? What was the transition like moving from Arthur Andersen to Blockbuster? When did you start working with Duncan? What were some of your first thoughts when you met Duncan? What has he been like to work with? Accountants are not generally thought of being risk takers or entrepreneurs. Do you now consider yourself an entrepreneur? How do you define an entrepreneur and what do you think makes one successful? What are your thoughts about running a successful business and supporting the community? We keep hearing about the GIFT Foundation on this program. Tell us a bit more about it and how you fit in? What have been some of the early struggles for the GIFT Foundation? What are some of the successes? What else do you do to support the community? How about your family life? I understand you have 3 young girls. How do you manage to balance your business life with your home life? What are some of the fun projects you are working on now? How did you choose PF Chang’s? How are the projects/partnerships arranged between the different companies? What do you look for when you consider a project or new business? How do you manage and mitigate the risk of a project? What’s your opinion on Hawaii real estate? Are we in a bubble? What makes an entrepreneur and what makes them successful? What are the biggest and most common mistakes you see entrepreneurs or business owners make when starting a new venture? Any last advice for business people? What are the biggest challenges business or personal? BIO: Jeff is a partner in The MacNaughton Group, a Hawaii-based diversified real estate oriented development company. The MacNaughton Group has developed a number of retail shopping centers in the Islands, including Maui Marketplace, a 300,000 square foot retail center in Kahului, Maui; Stadium Marketplace, a 200,000 square foot retail center adjacent Aloha Stadium; and Kukui Marketplace, a 160,000 square foot retail center in Lihue, Kauai. The MacNaughton Group also co-developed the Waikele Center and Waikele Factory Outlets with Dick Gushman. The MacNaughton Group is currently developing three projects: a small 8,500 square foot retail center in Kailua Kona called Henry Street Shops; a 22,000 square foot retail and office center in Kapolei called Kapolei Parkway Shops; and the redevelopment and expansion of an existing retail center called Moanalua Shopping Center,