Erik Schatz, Leasing Manager, named as NextGen BHM Honoree
What has been the most rewarding moment of your career? Converting 35,000 square feet of unleasable square footage in a shopping center to a leasable space with a strong credit tenant. It created a lot of value for the ownership group and enabled the retailer to land in a tight retail market.
What is a life lesson you have learned while on the job? I’ve realized how much the business community is connected. It’s so important to be kind and treat people with respect. You will cross paths with that person in the future.
What’s your ultimate career goal? My ultimate career goal is to become a top real estate professional in Alabama and the Southeast for private investors, institutional investors, small to large companies, restaurants and retailers seeking assistance with growth of new locations, investment strategy and execution, and acquisitions and dispositions.
What’s the biggest challenge facing your industry in the long term? The biggest opportunity I see is to capitalize on the increasing shift of people to the southeast. This will increase the demand for commercial and residential properties for years to come.
What’s the biggest opportunity for your industry in the long term? The biggest opportunity I see is to capitalize on the increasing shift of people to the southeast. This will increase the demand for commercial and residential properties for years to come.
What do you think will be the biggest changes in your industry over the next 10 years? I think the biggest changes that we are currently seeing and will continue to see are:
1. Large format retailers shrinking their store sizes and utilizing stores for more than just in-store shopping.
2. Retailers moving from malls to open-air shopping centers.
3. Owners redeveloping malls for medical, office, and residential uses.
4. Retailers and restaurants opening locations in smaller, more tertiary markets.
What’s the most important factor for you when it comes to having a satisfying career? I want to continue to be challenged every day and help make a small difference in peoples’ careers and lives. I want to help people achieve success that they may not have seen possible with their emotional, financial, and personal goals.
What can employers do to attract young professionals? Employers need to offer more internship opportunities to allow young professionals to get more hands-on experience with different jobs and showcase their talents.
How has the pandemic impacted your career as a young professional?The pandemic has impacted my career in a great way. Since a few months after the onset of the pandemic, retail real estate has outperformed expectations and performed even stronger than it did pre-pandemic. It allowed me to work on more transactions in a shorter period of time, which helped me meet more people and build lasting relationships with other people in the industry faster than I would have before.
What is the biggest challenge facing Birmingham right now, and what is the biggest opportunity? The biggest challenge facing Birmingham is attracting and retaining young people graduating from The University of Alabama, Auburn University, and UAB. The city has a prime opportunity to keep those students in the city and the state post-graduation, but there has to be new companies and better employment opportunities in the city that put Birmingham on the forefront of their mind as they plan to enter the work force.
What’s your dream job? Owning an outdoor store
What is your favorite office configuration? (e.g. open office, cubicles, offices with shut doors, hoteling, WFH, hybrid, etc.) I prefer an open office concept with a lot of glass and natural light.
What office configuration do you wish we would stop using? The old, stale office spaces with low light and cubicles everywhere.
