SF Commercial Property Conversations

Bruce Bean sits down with Jonathan Kathrein, a transactional real estate attorney, to explore the evolving landscape of San Francisco commercial real estate. Jonathan shares his unique journey into law—from studying real estate at UC Berkeley to working in nonprofit leadership, teaching public speaking, and eventually attending law school while raising a family.
The conversation dives into the current state of the market, which Jonathan describes as “hot,” with a noticeable return of activity in downtown San Francisco. However, one major shift stands out: lease terms are significantly shorter than in the past, typically 3–4 years instead of 10–20. This reflects both optimism and uncertainty as companies—especially those tied to AI—navigate funding cycles and future growth.
Jonathan also discusses how AI is impacting his legal practice. While it hasn’t reduced his workload, it has made him more efficient, allowing him to handle more transactions. Still, he emphasizes the importance of human oversight, noting that AI tools are helpful for tasks like proofreading and document review, but must always be double-checked.
The episode also explores broader trends, including increased urgency in deal-making, the role of interest rates in driving transactions, and how San Francisco is experiencing a strong comeback in foot traffic and business activity.
Key Topics & Takeaways
Why San Francisco’s commercial real estate market is heating up again
The shift toward shorter lease terms and what it means for the future
How AI companies are driving demand for office space
The role of AI in legal workflows—and its limitations
Why urgency is shaping today’s leasing and sales environment
How interest rates and funding cycles are influencing buyer behavior
Signs of San Francisco’s post-pandemic recovery
 
-------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

What does it take to build a career that spans hands-on construction, finance, insurance, and entrepreneurship? In this episode, Scott Van Arsdale shares his unconventional journey and the lessons he learned along the way.
Scott’s story starts in construction, swinging a hammer and learning the trade from the ground up. Over time, he transitioned into management, launched his own framing company, and later returned to school to deepen his knowledge in real estate development and finance. His career then took an unexpected turn into banking during a turbulent economic period, where he gained firsthand experience navigating distressed assets and market downturns.
From there, Scott moved into construction defect litigation, blending his expertise across construction, finance, and legal processes. Eventually, he returned to his entrepreneurial roots by rebuilding and growing TCE Constructors, the company he founded years earlier.
In this conversation, Scott also shares how modern tools like AI are changing the construction industry. From using AI to generate detailed scopes of work to improving estimating and project communication, he explains how technology is helping streamline operations and reduce inefficiencies.
Scott offers valuable insights into market cycles, noting that he has experienced multiple economic ups and downs. He shares his outlook on today’s market, including the impact of interest rates and why he believes the real estate sector may be positioned for growth in the next 12 to 18 months
 
-------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

What does it take to go from chemical engineering to owning 30+ multifamily properties in Los Angeles? In this episode, Maxx Feldman shares how he made an unconventional leap into real estate—and what it takes to survive and grow in today’s challenging market.
Maxx Feldman didn’t start in real estate. With a background in chemical engineering and early ambitions in professional baseball, his path shifted when he was introduced to real estate syndication through close connections. What began as a 60-day trial turned into an 8-year journey building a portfolio of over 30 buildings and 400+ units across Los Angeles.
In this conversation with Bruce Bean, Maxx walks through the realities of scaling a multifamily portfolio during both boom times and market downturns. He shares how his team aggressively acquired deals between 2018 and 2022, then shifted focus to operations as interest rates rose and market conditions tightened.
A major theme of the episode is adaptability. Maxx explains how today’s environment requires operators to prioritize cash flow, manage rising costs like insurance and maintenance, and maintain investor distributions. He also dives into their value-add strategy—renovating older properties, upgrading systems, and adding ADUs (Accessory Dwelling Units) to increase revenue and long-term value.
 
-------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

In this episode of SF Commercial Property Conversations with Bruce Bean, Bruce sits down with Scott Furniss of 7th Street Development to explore the fast-moving industrial market in Los Angeles and Orange County. From aerospace-driven demand to speculative development strategies, Scott shares what it really takes to build and lease industrial projects in today’s environment.
Scott walks through his career journey across residential, office, retail, and industrial real estate—bringing a well-rounded perspective to his current role managing and developing industrial properties. He also gives a behind-the-scenes look at a 70,000 square foot speculative industrial project currently under construction in West Orange County.
The conversation dives into how developers make key decisions without a committed tenant, including building design, power capacity, and flexibility for multiple use types. Scott also explains why aerospace and defense companies are dominating demand right now—and how that trend is shaping the future of the market.
You’ll also hear insights on leasing strategies, working with brokers, and how different submarkets across Southern California are performing today.
 
-------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

In this episode of SF Commercial Property Conversations with Bruce Bean, Bruce sits down with Peter Belisle, founder of Belcon Advisors and former executive at JLL, to explore the complexities behind some of today’s most ambitious development projects.
Peter shares his experience advising on the Lucas Museum of Narrative Art in Los Angeles—a 400,000-square-foot, architecturally stunning project set within a fully mature park—and what it takes to manage projects of this scale from concept to completion.
The conversation dives into Peter’s career journey, from engineering at UCLA to leadership roles at The Walt Disney Company and JLL, where he oversaw billions in project development. He also discusses his current work advising institutions like UCSF on cutting-edge facilities, including a first-of-its-kind proton therapy cancer treatment center.
Bruce and Peter explore key trends shaping the industry, including:
The explosive growth of data centers driven by AI demand
Private equity’s increasing interest in construction and infrastructure
The role of AI as a tool—not a replacement—in development
The importance of communication, alignment, and early problem-solving in complex projects
-------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

What does it really take to create places people love—and why is it so hard to build them today? In this episode, Ryan Lovett shares a fresh, multidisciplinary approach to solving some of the biggest challenges in real estate development, from housing shortages to community resistance.
Ryan Lovett, founder and CEO of Lovett, brings together architecture, planning, and real estate strategy to tackle complex urban problems. With over 20 years of experience across major U.S. cities and international projects, Ryan focuses on large-scale developments that prioritize sustainability, community value, and long-term success.
In this conversation with Bruce Bean, Ryan explains how thoughtful design and storytelling can help overcome NIMBYism by reframing development around what people truly value—walkable neighborhoods, vibrant local businesses, and meaningful places. He shares practical strategies for aligning community interests with smart growth, including how to address concerns like traffic, density, and infrastructure.
Ryan also dives into the realities of affordable housing, explaining why current systems are struggling to scale and how innovation—particularly around land use, policy flexibility, and construction methods—can help unlock new solutions. He highlights the importance of reducing unnecessary complexity and focusing on supply to meet growing demand.
The discussion also touches on iconic projects like New York’s High Line, exploring the importance of not just designing great spaces, but ensuring their long-term economic sustainability through smart planning and partnerships.
 
--------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

What if commercial real estate could be as easy to invest in as buying a stock?In this episode, Bruce Bean sits down with Mitchell Raimondo to explore how tokenization is transforming access, liquidity, and global participation in commercial real estate investing.
Mitchell shares his journey from early Bitcoin adoption in 2012 to working at the intersection of blockchain and institutional real estate. He explains how tokenization allows owners to fractionalize assets into digital tokens—unlocking capital from investors worldwide and creating new liquidity in traditionally illiquid markets.
The conversation breaks down how tokenization works in simple terms, comparing it to crowdfunding—but with far greater flexibility and global reach. Mitchell explains how investors could soon buy and sell real estate interests as easily as trading stocks, opening the door for both retail investors and institutional players.
They also discuss the biggest hurdle facing this innovation: regulation. Mitchell highlights how evolving regulatory frameworks and recent developments in stablecoins are paving the way for broader adoption. As clarity improves, he believes innovation will accelerate rapidly.
Looking ahead, Mitchell shares his perspective on where the market is going. He predicts a shift from speculative digital assets toward real-world asset backing—bringing credibility, scale, and long-term value to blockchain-based investments.
 
--------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

What does it take to generate consistent 10–12% returns in today’s commercial real estate market? In this episode, Todd Stender shares how private credit and triple net development lending are creating unique opportunities for investors right now.
Todd Stender brings a powerful mix of Wall Street experience and real-world investing insight. From his early career in sales at ADP and Coca-Cola to earning his MBA from Pepperdine, Todd built a foundation that led him into equity research and ultimately to Wells Fargo Securities, where he specialized in REITs. After years of analyzing deals, he made the leap into investing himself—starting with a single triple net property and growing into institutional lending.
In this conversation, Todd explains how his current role at L&L Capital focuses on lending to developers building single-tenant retail properties like Starbucks, Chick-fil-A, and other essential businesses. These projects are backed by long-term leases and strong tenants, creating a lower-risk lending environment with attractive returns.
Bruce and Todd also explore the rise of private credit following the global financial crisis, and how today’s market—especially with billions in loans maturing—has opened the door for new lending opportunities. Todd shares why requiring signed leases before construction begins is key to minimizing risk, and how short-term loans (typically 12–15 months) allow for faster capital turnover.
The conversation also touches on broader market trends, including reshoring of manufacturing, the strength of industrial real estate, and the ongoing demand for “Amazon-proof” retail assets. Todd highlights how investor demand—from institutions to international capital—continues to flow into U.S. real estate for its stability and predictability.
If you’re interested in private credit, triple net investing, or where commercial real estate is headed over the next few years, this episode offers valuable insights from someone operating at the front lines.
 
--------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest
 

What does it really take to build thousands of homes in California—and navigate one of the most complex entitlement systems in the country? In this episode, Bruce Bean sits down with Nick Arenson to unpack the realities of large-scale homebuilding, from land acquisition to community pushback.
Nick shares his journey from engineering major infrastructure projects to working with Walt Disney, and ultimately becoming a leader in California homebuilding and land development. Now involved in master-planned communities like Mountain House, he brings deep insight into entitlements, market shifts, and housing demand.
The conversation dives into how recent legislation like SB330 is reshaping the development landscape, making it easier to move projects forward while still balancing community concerns. Nick also explains how developers manage relationships with local communities, including strategies for addressing NIMBY opposition and gaining broader support.
They explore the critical role of infrastructure—especially schools—and how funding mechanisms like SB50 and community facilities districts make large-scale developments possible. Nick also shares how environmental concerns, traffic, and quality of life all factor into planning decisions.
 
--------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest

Ryan Brown’s journey into real estate didn’t start in finance—it started in medicine. From growing up in a small Northern California town to becoming a nurse anesthesiologist, Ryan built a strong W-2 career before discovering the power of real estate investing. In this episode, he shares how one well-timed triplex purchase changed everything—and how that led to building a 5,500-unit self-storage portfolio across seven states.
Ryan breaks down the realities behind rapid growth, the lessons learned from scaling quickly, and why he focuses on “slow, unsexy” investing built on strong fundamentals. He also explains how disciplined operations, smart leverage, and a relentless focus on net operating income (NOI) have shaped his company’s success.
You’ll also hear how Ryan and his team use technology, remote management, and customer experience to stand out in a competitive market. From hiring his first overseas team member through a cold call to building a global support team, Ryan shares practical insights operators can apply immediately.
If you’re interested in self-storage, scaling a portfolio, or building a resilient real estate business, this episode is packed with actionable takeaways.
 
--------------------------------------------------------------------------------------------------------- We’re excited to feature your voice in the conversation about building wealth and legacies through commercial real estate. Join us to share your journey and insights with our growing audience! Learn more and apply at https://sfcommercialconversations.com/guest