JF3041: Why 2023 Will Be a Challenging Year for Real Estate ft. John McNellis

<p>John McNellis is the principal at McNellis Partners, a commercial development firm. In this episode, he tells us why he thinks 2023 will be a challenging year for real estate, his thoughts on the current state of office and multifamily, his advice for beginners investing in retail, and why he believes real estate success is all about supply constraints. </p> <p><br /> <br /></p> <h2><strong>John McNellis | Real Estate Background</strong></h2> <ul style="font-size: 18px;"> <li style="color: #000000;" aria-level="1"> <p style="font-size: 18px;"><span style="color: #000000;">Principal at McNellis Partners, a commercial development firm.</span></p> </li> <li style="color: #000000;" aria-level="1"> <p><span style="color: #000000;">Previous episodes:</span></p> </li> <ul style="font-size: 18px;"> <li style="color: #000000;" aria-level="2"> <p style="font-size: 18px;"><a style="font-size: 11px;" href= "https://joefairless.com/podcast/jf2470-how-to-develop-shopping-centers-with-john-mcnellis/" target="_blank" rel="noopener"><span style= "font-size: 18px;">JF2470: How to Develop Shopping Centers with John McNellis</span></a></p> </li> <li style="color: #1155cc;" aria-level="2"> <p><span style="color: #8c1b1d;"><a style="color: #8c1b1d;" href= "podcast/jf2720-4-things-to-know-before-your-first-development-deal-ft-john-mcnellis-situationsaturday" target="_blank" rel="noopener"><span style= "text-decoration: underline;">JF</span>2720: 4 Things to Know Before Your First Development Deal <span style= "text-decoration: underline;">ft. John McNellis</span></a></span></p> </li> </ul> <li style="color: #000000;" aria-level="1"> <p><span style="color: #000000;">Portfolio: </span></p> </li> <ul style="font-size: 18px;"> <li style="color: #000000;" aria-level="2"> <p><span style="color: #000000;">80+ projects — primarily shopping centers, also some office and residential</span></p> </li> </ul> <li style="color: #000000;" aria-level="1"> <p><span style="color: #000000;">Based in: Palo Alto, CA</span></p> </li> <li style="color: #00