Alex Nyhan likes to say that it’s a great time to own neighborhood retail. Booming sales, digital retailers’ drive to establish a brick-and-mortar presence, and the need to be near the customer are all powering demand.
In this lively discussion, the CEO of First Washington Realty tells how the company is bringing fresh ideas to a 140-property portfolio that spans 22 states and Washington, D.C. He details the brand-new experiential concept at their property in West Hartford, Conn., and reports on the redevelopment that’s breathing new life into a vintage Kansas City center.
Nyhan brings an eclectic background to his current role. He’s earned an MBA and a master’s degree in public administration from Harvard, served as an adviser for the World Bank and handled complex real estate deals for Washington, D.C.’s economic development department. After college he worked abroad, and years later that experience influenced how he handled a major challenge as CEO.
But Nyhan’s versatility extends beyond real estate. He also plays keyboards in a local band, so for a change of pace, we’ll talk music for a few minutes. Take a listen.
Episode highlights:
Retail appeal: First Washington’s four-decade focus (1:47)
What’s powering neighborhood centers (4:08)
Building customer connections with creative concepts (7:21)
Upsides of being a private investor (9:54)
Strategies for investing smart in retail (12:50)
Finding overlooked diamonds (16:27)
Refreshing an historic center (19:35)
A CEO’s public-sector roots (22:22)
Takeaways from time abroad (23:54)
Alex Nyhan off the clock: music man (26:43)
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