Agility and Success in Office and Beyond with Anthony Dilweg
Sep 26, 2023
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Anthony Dilweg, Founder of Dilweg, discusses success and challenges in the office space. Topics include single-story creative office space, difficult conversations with lenders, and finding your niche in real estate. They also explore the benefits and drawbacks of diversifying in different sectors and reflect on lessons learned during a period of crisis. Anthony expresses gratitude and offers a way to connect for raising capital and seeking opportunities in the office sector.
Being skeptical and observing the office sector can lead to smarter decisions in the real estate market.
Single-story creative office spaces offer efficiency, customization, and resilience in the face of challenges like the COVID-19 pandemic.
Open and frequent communication with lenders is crucial, and collaboration can yield mutually beneficial solutions during difficult times in real estate investing.
Deep dives
The Importance of Being Skeptical and Observing in the Office Sector
In the podcast episode, Anthony Delwig emphasizes the importance of being skeptical and observing the office sector. He suggests that instead of making impulsive purchases, it is wise to watch and analyze the market as it unfolds. Delwig believes that the current situation is comparable to catching a falling knife and that those who are buying now are taking significant risks. Prudent buyers are more focused on observing and scrutinizing the market carefully. By being skeptical and exploring all aspects, one can make smarter decisions and navigate the market intelligently.
The Rise of Single-Story Creative Office Space
Anthony Delwig discusses the growing interest in single-story creative office space. He explains that these types of offices are more efficient and offer tenants greater control over their space. Delwig highlights the opportunity to take existing single-story properties, such as old warehouses or retail centers, and transform them through unique renovations like vibrant paint, landscaping, and eye-catching wayfinder signs. These offices cater to tenant desires for more autonomous and customizable spaces and have shown resilience during the COVID-19 pandemic due to their direct access and open layouts.
The Importance of Communication with Lenders
Delwig emphasizes the significance of open and frequent communication with lenders, especially during challenging times. He advises investors facing difficult conversations with lenders to be transparent, present the data honestly, and work together to find solutions. Delwig also shares his experience of successfully negotiating with lenders, including buying distressed assets at a discount when lenders were seeking to remove them from their books. He believes that effective communication and collaboration between investors and lenders are essential for navigating through crises and finding mutually beneficial solutions.
The Value of Being Nimble and Diversifying
Delwig challenges the conventional advice to stay within a specific asset class, promoting the value of being nimble and diversifying investments. He encourages investors to be open to different opportunities and not restrict themselves to a single niche. Delwig shares his own experience of successfully investing in various asset classes such as self-storage, industrial, multifamily, retail, office, and even a golf course. He suggests that investors who have the aptitude and leadership skills to build expertise in different sectors can create diverse portfolios and seize unique opportunities.
Lessons in Humility, Resilience, and Servant Leadership
Delwig reflects on the lessons learned during the challenging period from 2020 to 2023. He highlights the importance of humility, acknowledging the need to adapt and learn from difficult circumstances. Delwig emphasizes the significance of resilience, both personally and professionally, during times of crisis. He encourages a servant leadership mindset, focusing on serving others and building strong relationships. Delwig emphasizes the value of purpose, gratitude, self-reflection, and faith in navigating through challenging times and building a successful real estate career.
Enjoy hearing about where Anthony, and his company, Dilweg, are having success and challenges in the office space right now. We discuss single story creative office space, having difficult conversations with lenders, and finding your niche in real estate.
Anthony founded the firm in 1999 and is a partner in various firm-owned real estate partnerships. He oversees acquisition, enhancement, and disposition strategies for all firm-owned assets through his guidance of the Investment Committee and steers the strategic direction of the firm as a member of the Leadership Committee. Anthony graduated from Duke University in 1989 and spent 3 years as a quarterback in the NFL before entering the commercial real estate business as a broker in 1993.
