POWERS

Stephen is a Managing Director in the Dallas office of JLL Capital Markets, Americas. He joined JLL as part of the HFF acquisition and specializes in industrial investment advisory. In this capacity, he represents and advises clients in the sale and acquisition, or development of industrial assets, primarily in Dallas/Fort Worth and throughout the Southwestern United States. Dustin is a Managing Director in the Dallas office of JLL Capital Markets, Americas. With more than ten years of real estate investment experience, he leads the South Central industrial investment advisory team. In three years at JLL, his team has closed over $2.1 billion in industrial transactions within Texas alone and over the course of his career, Dustin has closed over $3 billion in commercial transactions, working with a number of institutional, corporate and private-client owners. On this episode, Stephen, Dustin & Chris discuss the Texas Industrial market. They dive into all the capital coming into the state, how JLL has helped them become so successful, increasing land prices, DFW vs. Houston, labor issues and more. Enjoy!   Watch this episode on YouTube: https://youtu.be/2-GuatD-Ws4   Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/   (01:53) - How did you each get into this business? (04:27) - When did you two get partnered up? (05:36) - How would you describe what you do and what markets you cover? (07:36) - What does JLL bring to the table and what do they allow you to do? (12:22) - What’s a job where you’ll work on the equity side? (15:50) - How is Texas performing in your eyes compared to the rest of the country? (19:49) - How much capital is trying to get into Texas Industrial? (21:34) - Is there a percentage of new development that is spec vs. a tenant in tow? (22:54) - The Forward Value Metric (24:32) - Are TI Packages starting to go up? (26:23) - What are the types of tenants leasing the industrial buildings? (27:59) - What’s going on in the market as it relates to capital gains going up? (29:13) - How have you been able to meet so many people & build client relationships? (32:12) - Are the majority of people buying working for companies that pursue market-only deals? (34:50) - What do a dream seller and dream buyer look like? (35:47) - What’s the process of working with you from the decision to sell all the way to closing? (39:33) - IRR's  (40:47) - What’s the dispersion in underwriting vacancy in a market this crazy in Class B and Class A? (43:14) - Why would Amazon ever leave a building? (45:52) -  Are smaller tenants much more location-dependent in Class B? (47:10) - What does the market for land prices look like? (48:54) - How do people with tons of money to spend get into the Texas Industrial Market? (52:51) - On seller/buyer calls, are there any great questions for sellers to ask on vetting a buyer? (54:07) -  At what threshold are tenants not represented by brokers in the market? (55:08) - What are you expecting to see in the next 12-18 months? (55:57) - Are tenants struggling to find labor for warehouses? (55:46) - Debt Pricing and Cost of Capital (58:46) - DFW vs. Houston Market (1:00:16) - What makes DFW such a big hub? (1:01:37) - What happens if interest rates go up? (1:02:42) - If you were getting in the industry today, what’s the playbook to be successful? (1:05:19) - What’s most exciting to you in industrial over the next decade? The FORT is produced by Straight Up Podcasts

Chris is on vacation! So please enjoy this re-mastered version of episode #38 of The FORT with guest Pete Chambers. Pete Chambers is the past President of the West Texas Chapter of Young Presidents’ Organization and continues to be an active member. He is also Chairman of the Board at Rivertree Academy, a private, Christian school serving under-resourced students in the Lake Como community of Fort Worth. His favorite quote is Robert Greenleaf’s statement that “Good leaders must first become good servants.” Chris and Pete sit down to discuss Pete's development of "The Roadmap", the process of selling a business, The Young Presidents' Organization, and being a father. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (03:35) — How did you plan for the “post-50” life? (07:48)  — Be a Fighter Pilot as an Entrepreneur (09:47) — What did you do with the discovery of Bob Buford and the bell curve of entrepreneurship? (13:50) — What did you implement early on that you needed to be intentional about? (14:58) — Pete’s 10 Mile-Radius for Finding a Business to Buy (16:12) — How close do you walk the line with being home in time for dinner due to work? (17:17) — How do you allow your faith to guide you in business? How can you keep these two aligned? (18:58) — Your CEO is Forrest Gump (21:13) — What does servant leadership mean to you? (25:13) — What is the one thing that will set companies up to fail? How do you give recognition to employees? (28:06) — Pick Out Three Things That Your People Do Well (29:01) — When did you know it was time to sell your business? (32:39) — Words of Wisdom for First-Time Sellers (34:07) — Pete’s Mission Statement and Inspiration (35:15) — The Roadmap (43:47) — What are the things that people often struggle with in the second half of life? (48:32) — Loneliness at the Top (49:57) — The Power of YPO (Young President’s Organization) (52:27) — Pete’s Relationship with Rivertree Academy (56:54) — Being a Father, Father-Daughter Trips, and Managing Your Marriage (01:04:17) — Pete’s Painting The FORT is produced by Straight Up Podcasts

Mark Campbell is the Co-CEO of Jasper.io has over 13 years of experience with commercial real estate firms in NZ, UK, and Europe. Most recently, Mark led a commercial real estate joint venture between Blackstone and M7, overseeing assets currently worth more than $12 billion NZD, in seven countries. Mark led the fund since inception and oversaw the acquisition and ongoing asset management of c.1,000 assets. On this episode, Mark deep dives into what JV-ing with Blackstone looks like and how a company of that size operates in real estate. They also talk about the inception of Jasper and the decision to turn down an offer from Blackstone as well as the New Zeland market & more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Watch this episode on YouTube: https://youtu.be/hN5MwEY92E8 (03:08) - Mark’s Background, Career in Real Estate, Professional Rugby, Blackstone, and Jasper M7 Blackstone (27:30) - Was there something in the M7 and Jasper vs. Blackstone opportunities that drove you to take the more risky decision? (31:19) - What makes Blackstone great and what did you learn working for them that will carry through the rest of your career? (38:48) - How does someone like Blackstone's pump deal flow from a $150m portfolio to 8 Billion? (47:18) - How did Blackstone react when you turned them down to start Jasper? (52:14) - What is Jasper and what are you out to accomplish? (1:00:48) - Are you only doing your own deals or can other operators get on the platform to raise capital? (1:03:01) - How are you finding investors and are your investors local or global? (1:05:58) - How big is the New Zealand Market? (1:07:44) - What’s your process in raising for a deal? (1:09:54) - What’s the investor experience post-investment? (1:00:17) - Are you seeing your investors being seasoned RE investors or are they people with capital who have never had access to get into deals before? (1:19:10) - What are interest rates in New Zealand? (1:20:44) - Has tourism picked up? (1:21:22) - What do people in New Zealand think about Americans? (1:22:51) - Is there something about growing up in New Zealand that’s shaped who you are today? (1:24:44) - What’s the best event/festival in Europe? (1:26:22) - How can people get in touch with you and Jasper? Email - mark.campbell@jasper.io Mark on LinkedIn The FORT is produced by Straight Up Podcasts

There's been a ton of talk about Texas with the growth of Austin, the mass migration from other states, and our booming Tech industry. This episode deep dives into why Texas is a great place to invest your future business, real estate plans, and life. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ (01:42) - Texas Statistics & Population (04:24) - The Income and property taxes (04:59) - The Housing Market  (06:20) - Texas’ Seaport, Border and labor Trade (07:21) - Oil & Gas  (09:26) - Blooming Tech Industry  (10:14) - Corporate re-locations Tesla, Apple, Uber, Charles Schwab, Toyota,  Goldman Sachs, Samsung, The Vanguard Group, JP Morgan (13:06) - Texas Climate  (13:56) - Cannabis  (14:45) - Farming (15:00) - DFW Airport (15:42) - Colleges & Universities (16:25) - Sports (16:50) - Infrastructure (17:25) - Wrap Up The FORT is produced by Straight Up Podcasts

Harry Croydon is co-founder of Micro Insurance Company (MIC) and is CEO and President of STP Group Holdings. MIC was started to create simple insurance products built around technology based on the principles of straight-through processing. Micro Insurance Company currently operates in 12 countries offering policies to many people living in the third world. On this episode, Harry and Chris deep dive into InsurTech and how Harry is working to make insurance available to a TAM that either can't access coverage or has never even heard of the concept of insurance. They also talk about building a remote team around the world and the leadership struggles that follow such a task, Culture Index, and more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:23) - Harry’s Background and Career in Tech & InsurTech (06:02) - “Doing One New Thing at a Time Instead of Three or Four.” (07:36) - Why is the insurance industry so slow to adopt new technology? (08:50) - What is Microinsurance.com? (11:16) - What are companies currently doing that don’t have insurance? (13:16) - Is there one over-arching policy that gig workers sign up for or is there a menu-style of coverage the individual chooses from? (14:43) - Is there feedback with consumers to help you decide what kind of coverages might be needed that you don’t already offer? (15:57) - How does your underwriting process work? (18:46) - Do you need to learn the nuances of each countries different culture that you operate in regards to insurance? (21:06) - Are there people out there who have no concept of insurance? (22:22) - Transparency in Coverage (23:28) - How do you determine countries that you want to operate in? (24:16) - Is there one playbook that gets you started in a new country or is it different every time? (25:39) - What is the craziest thing that you insure? (27:47) - Why aren’t there many businesses set up to prosper globally? (30:03) - What are you doing with technology that sets you apart? (32:34) - Does everyone in your markets have access to at least a flip phone? (33:27) - How is your tech team set up? (34:53) - Do you believe that you can long-term create great relationships over Zoom? (35:45) - What is your day-to-day like as the CEO? (36:36) - How do you think about Culture Index in the companies you run? CultureIndex.com (38:57) - Do you think about ‘Float’ at all in your business? (40:13) - How are you capitalized and how do you think about capital when growing? (41:03) - What’s the end goal for the company? (42:30) - How do you think about the process of working on yourself as a leader and the people you surround yourself with?  (44:14) - Is there a great learning experience you can share from years of starting businesses? (45:43) - Did you start this business with people you’ve started other companies with? (46:41) - Is there going to be big impact on your industry due to Covid? (48:46) - What’s one thing you believe in that most around you do not? (49:25) - What’s the best advice you’ve ever been given? (49:46) - Is there a book that you recommend? Thriving on Chaos by Tom Peters Rocket Fuel by Gino Wickman (50:56) - How can people find your business? Harry Croydon on LinkedIn microinsurance.com The FORT is produced by Straight Up Podcasts

Josh Schultz is a master of SMB Operations. This episode is a deep dive into SMB Operations and how Josh analyzes businesses in order to optimize operations to greatly scale SMB's. They discuss his journey of joining his father's company, expanding into the Mexico market, living in China to learn the nuances of the international supply chain and manufacturing practices before ultimately leading the sale of the business and his current role as an SMB ops consultant. They also discuss prioritizing KPI's, beneficial softwares for SMB's and his forthcoming cohort for business owners led by him and previous FORT guest Rich Jordan. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Watch this episode on YouTube: https://youtu.be/E_76qTSmt2g Josh on Twitter The SMB Ops Letter by Josh Schultz (01:52) - Joshua’s Background and Career (05:04) - What was the state of the company when you joined your father? (08:08) - What’s unique about how you look at businesses? (09:30) - What systems did you implement and what things did you change in your father’s company? (12:03) - How did your process of systematizing communication help with growth? (12:45) - How did you implement a culture of adopting technology? (14:44) - Expanding into Mexico (17:44) - Living in China and Learning the International Nature of Supply Chain (22:21) - What’s the playbook for a new business owner that needs to start working with China? (24:12) - What is “The Chinese Way”?  (27:34) - The Process of Selling the Business in 2019 (31:47) - Why does every small business not see these obvious operations optimizations? (36:49) - What type of businesses do you specialize in with your consulting? (40:45) - How do you create an environment where employees feel comfortable bringing operational frustrations to your desk? (42:26) - Prioritizing What to Tackle First (47:33) - Should every business have a way to submit anonymous feedback? (48:36) - How should people decide what software to use in a no-code world with limitless options? Bubble.io  Trello Glide Zapier (50:16) - How do you know what KPI’s matter? The 4 Disciplines of Execution (56:44) - Accountability for KPI’s  (58:19) - Why does nobody look at dashboards? (1:00:07) - SMB Cohort with Rich Jordan - Crucible (1:05:16) - 90% of Business is Boring!! (1:07:57) -  How and Why to Ask Questions (1:11:16) - What’s next for Joshua? (1:16:37) - What are the biggest mistakes from an ops perspective that most SMB’s make? (1:20:03) - What’s the bridge between Sales and Operations? (1:21:11) - What happens at a business where your skillset is no longer valuable? (1:22:43) - Is there a great ops book you recommend? Plain Talk by Ken Iverson The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success By William Thorndike (1:24:41) - Do you have an operational person you look up to? (1:25:28) - If you had a billboard you could put anything on, what would it say? The FORT is produced by Straight Up Podcasts

Christopher Rising manages the day-to-day business activities of Rising, while also serving on its Investment Committee. Drawing on his experience as Senior Vice President, Asset Transactions at MPG Office Trust, Inc. (NYSE: MPG), Christopher is skilled at managing acquisitions and creative development. At MPG, he worked directly with the CEO to improve finances through debt reduction and restructuring. On this episode, Chris discusses his early career learning the industry under John Cushman of Cushman & Wakefield before leaving to form his own company. He and Chris also discuss Rising's emphasis on Impact Investing & ESG and how that plays in working with large tenants like Google and Amazon. They also deep dive into their predictions on the future of Office and Work as we exit the pandemic. Finally, they turn the table to ask Powers about his willingness to take risks, Fort Capital's focus on technology adoption, and the future of Texas and California in the midst of the massive migration seen in the United States. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ Watch this episode on YouTube: https://youtu.be/ZFdQ6KjbRFM (02:32) - Chris’ background and career (08:08) - Was John Cushman always teeing up his company to be as big as it was? (09:55) - Rising Realty Partners (13:37) - How do you define impact investing and ESG?  (20:51) - Why are office and commercial retail real estate the biggest emitters of carbon? (22:13) - What’s the low-hanging fruit that you can go in to fix their carbon output? (23:59) - How quickly does ESG requirements come up with ‘big-boy’ tenants like Google and Amazon? (26:41) - Biden’s Push for Government Buildings to be ‘Green Certified’ (29:10) -  Rising’s Investment in Office and the Future of Work (37:32) - Crowdfunding  (44:26) - Experience Optimization Services The Tables Turn (47:49) - Chris Powers’ Willingness to Take Risks (52:08) - Powers’ Focus on Technology (54:07) - The Digital Economy Coming to Real Estate (54:50) - Microsoft or Google for operating systems? (55:16) - Maintaining Discipline with Adapting Technology (1:01:54) - The Massive Population Growth in Texas and the Future for the States like California The FORT is produced by Straight Up Podcasts

Kevin Jorgeson is an American rock climber. He was one of the first two climbers, alongside his climbing partner Tommy Caldwell, to successfully complete a free climb of the Dawn Wall of El Capitan in Yosemite National Park. On this episode, Kevin and Chris talk about climbing the Dawn Wall, the 6 years of preparation leading up to the ascent, and the massive media frenzy that became a full-fledged film. They also touch on Kevin's life after Dawn including the process of a ground-up development for a climbing gym and launching a non-profit called 1Climb which aims to get more kids into the sport of climbing. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:33) - Kevin’s Story Growing Up and What Led Him to Today (03:14) - Was there a moment you knew you were really talented at climbing? (05:06) - Is there anything unique to climbers that physically give them an advantage? (06:02) - What are the different types of climbing? (08:10) - Bouldering  (09:32) - How do you ‘Win’ a climbing competition? (11:05) - Climbing in the Upcoming Olympics (11:44) - Reaching Out to Tommy Caldwell to Climb the Dawn Wall (16:32) - The Feeling that it Was Time to Pursue the Dawn Wall (24:31) - What was your first day ‘on the job’ with Tommy Caldwell? (32:14) - What was your role in this whole adventure? (34:23) - What does 6 years of prep look like and how did you map out the climb? (41:17) - Did you and Tommy follow the same route or go different ways in your sequences? (44:08) - At what point did you realize you were ready to make the climb? (46:15) - What was the prep like for the 19 day climb and the experience of living on the side of the wall? (50:10) - Pitch 15 and the Pressure of Completing It (1:00:14) - Was there a certain spot in the pitch that caused all the issues? (1:03:17) - What happened when you realized the media frenzy was gathering to watch you? (1:08:31) - Was there a crash after the high from completing the Dawn Wall?  (1:15:51) - Getting Married and Having Children (1:16:48) - Starting a Climbing Gym www.Sessionclimbing.com (1:24:54) - Starting a Non-Profit - 1Climb.org (1:31:27) - Do you have a childhood experience that shaped who you are today? (1:33:17) - Do you have a morning routine? (1:35:01) - What advice would you give to a beginner climber? The FORT is produced by Straight Up Podcasts

Soon after joining Higginbotham as a customer service representative in the employee benefits department, TJ Hutchings set a goal to become a managing director within five years, which he accomplished by the end of 2018. Hutchings has maintained a 95%-plus customer retention rate by tirelessly searching for savings solutions for his clients and fostering community relationships to bring them closer to resources that can improve their situation. On this episode, TJ discusses how his Cancer diagnosis led him to this current career path before deep diving into how employers should be approaching health insurance for their teams. He breaks down basic terminologies and best practices for small to medium-sized companies and how employees can make the most of their health plans. Chris and TJ also discuss the concept of businesses having to provide insurance, pre-existing conditions, the rising costs of care, and more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:46) - TJ’s Background and Early Career (05:42) - What are folks left with when they are continually rejected in their appeals for health coverage? (06:32) - TJ’s Journey of Working with Higginbotham  (08:15) - How do you think about what you do for a living? (10:12) - What are the things that SMB owners should be asking when they’re at the table with you? (10:54) - Defining Markets (11:51) - Who sets rates? (13:55) - What variables can employers negotiate to get better rates or do privately do improve their individual standing? Healthcare Bluebook (16:58) - At what size do you start thinking about self-insuring? (20:06) - Individual Health vs. the Group Plan (20:35) - Why is insurance state-by-state? (21:35) - What are the types of plans and what do they mean? (25:12) - Basic Terminologies Co-Pay Deductible  Premium (26:19) - Why is it on your employer to cover health insurance in America? (27:35) - How do you make the decision on which bucket your company fits in? (31:22) - Dual-Options Plans for Employees (32:17) - Should most employers have their agent on site for open enrollment day? (34:08) - What happens when there are folks on the team with pre-existing conditions? (36:19) - What happens after folks and their companies have picked their policies? (38:39) - Is there any risk the employer takes on selecting a plan? (38:51) - Who are the main companies in this space? (41:00) - How far in advance should employers start thinking about next year’s plan? (42:48) - How do you navigate the constantly changing regulations as politicians revolve in and out of office to change things? (45:21) - Obamacare (46:00) - If I don’t have health insurance, and something terrible happens, who’s paying those bills? (47:06) - Why are health costs continuing to increase? Dr. Bricker Videos - AHealthcareZ (49:40) - Price Differences Between US and Canada for Pharmaceutical Drugs (50:42) - Is it a growing industry to have a company that fights the hospital billing on your behalf? (52:39) - Does the misfortune of a few impact the premium of the whole group?  (54:47) - What questions should companies be asking different agents? (57:30) - What does your dream client look like? (1:00:53) - Is there any technology that could disrupt this industry? (1:03:05) - Are there political issues in healthcare that keep you up at night? (1:07:07) - Was there something that happened in your childhood that shaped your path in life? (1:09:08) - Do you have a morning routine? (1:11:08) - What is the best advice you’ve been given & What advice would you give to someone starting in the industry? (1:12:56) - How can people find you? LinkedIn Instagram Twitter Website The FORT is produced by Straight Up Podcasts

Jefferson "Trey" Davis is the Owner of Davis Glass Cleaning Company based in Fort Worth, TX. On this episode, Chris and Trey discuss how he decided to make the jump into starting a sweaty business with only one client to over 100 in less than two years. They discuss Davis' day to day schedule and how he balances the actual service with administration work and business growth. The pair also discuss the massive amount of opportunity there is for these types of businesses, and Trey gives an incredible example of how he was making more money cleaning windows for 10 hours a week than he was at his full-time job. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Check out Trey's website: www.davisglassco.com Watch this episode on YouTube: https://youtu.be/0rCtBMzRogg (03:17) - Trey’s Childhood and Starting his Sweaty Business (05:19) - When did you decide to actually pull the trigger on this business? (07:40) - What were you trying to learn in order to launch this business in terms of actual service and the business side of it? (10:15) - What was your experience getting your first customer? (13:44) - What was your initial investment in supplies? (15:37) - What’s been the key for you in continuing to grow your customer base? (17:29) - How did you find Fort Capital? (19:42) - How would you bid a commercial building? (20:32) - What’s the difference between residential and commercial cleaning and how do you contract each?  (23:37) - How many customers do you have now? (23:55) - Have you ever had to fire a customer? (24:49) - How do you set up your booking and schedule? (25:37) - What does a typical day look like for you? (26:18) - How do you split your time between cleaning, admin work and finding customers? (27:08) - What are the biggest things you want help on as you grow? (30:21) - What do you see your job being if you weren’t cleaning anymore? (31:17) - What are some key things you’ve learned that you would tell someone who’s thinking about starting out? (33:50) - How do you handle rejection? (35:20) - What’s your pitch? (37:01) - How often do you need to replenish and replace supplies  (37:31) - How do you clean a window well? (38:09) - Getting Over the Feeling of Shame & Self-Doubt (41:22) - Was there a moment where you knew it was time to go full-time on this? (42:01) - How important was it having a supportive wife? (43:02) - The Massive Opportunity for These Sweaty Businesses (46:08) - What’s been your biggest failure or worst day of work? (49:27) - Do you have a childhood experience that shaped who you are today? (51:52) - What’s the best advice you’ve ever been given? (53:13) - How can people find you and your company? www.DavisGlassCo.com Instagram: www.Instagram.com/DavisGlassCleaningCompany The FORT is produced by Straight Up Podcasts