This is the fourth of four profiles of Treasure Valley commercial real estate agents in a special commercial real estate section the January 18-February 14, 2017, edition of the Idaho Statesman’s Business Insider magazine. The first is here, the second here, the third here.
As an investment broker at Colliers International in Boise, Clay Anderson works with buyers looking to invest.
Anderson, 43, lists and sells commercial properties, including apartments, office complexes, retail centers and empty lots in commercial zones. He usually has ideas for interested buyers. The trickier task, he said, is finding properties that match up with the clients seeking to either enter the Treasure Valley market or expand their investment holdings here.
Business is good, thanks to a plethora of buyers with money to sink into properties. “It’s out of balance, with way more buyers than sellers,” Anderson says.
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A Rexburg native, Anderson spent the first nine years of his career in Phoenix before returning to Idaho. He lives in Meridian with his wife and five children, including 16-year-old triplets.
Anderson says he negotiates between $50 million and $100 million in transactions each year.
Part of the matchmaking involves assessing buyers’ risk thresholds. If an investor wants to invest $3 million, does he want to borrow, leveraging perhaps $10 million with his $3 million, or to avoid debt using only cash on hand? Does the investor prefer a conservative holding — an apartment complex or retail space with reliable income — or something riskier but with higher potential?
Sometimes, Anderson pairs a buyer and seller before the property reaches the market.
“A lot of that is based on relationships, knowing who owns property and who might be open to selling, even though it’s not listed,” Anderson says. “I’m in the business of connecting dots.”
Apartments and retail are the strongest commercial assets in the Valley, he says.
“For any apartment project I know I can go buy, I’ll have 10 to 20 buyers anxious to underwrite and make an offer,” Anderson says. “Office and industrial aren’t in the same category, unless it’s a Downtown core office building. Then, yeah, you’ll have strong demand.”
[Anderson] is trusted and respected by his clients and peers and works long hours to create his success. He is consistently a top performer at Colliers.
Geroge Iliff, Colliers International Owner
Anderson says he’s become more efficient at sniffing out dead-end deals. Earlier in his career, he would sink days or weeks into deals that ultimately made no sense for one side or the other, or that were killed by red tape or public opposition.
“One important lesson I’ve learned is cutting to the chase,” Anderson says. “Does this deal make sense? Is it worth working on? That’s important in this business.”