Welcome to “The Redemptification Podcast,” today, John interviews our special guest and the founder of Boxer Property Management Corporation, Andrew Segal.
In 1992, Andrew Segal founded Boxer Property Management Corporation, embarking on a journey that would redefine real estate. The company began by leasing a 108,000 square foot office building in Dallas. Initially, Boxer focused on acquiring, managing, leasing, and administering commercial office buildings. Over the years, they expanded their horizons, transforming retail centers, resort hotels, and various real estate ventures into stable and profitable properties.
What sets Boxer Property apart is their dedication to enhancing the value of the properties they manage. They employ innovative strategies, revamping assets and offering cost-effective solutions to create a superior experience for tenants and customers.
Today, Boxer Property Management Corporation manages over 15 million square feet of commercial buildings in major cities. Their approach blends progressive management and logical strategies to redeem under-performing assets.
During this episode, Andrew Segal shares insights into the evolution of Boxer Property, highlighting the transformative power of technology in reshaping the real estate industry. He emphasizes the importance of clear measurement, organization, and streamlined business operations. We also explore Boxer’s unique approach to workforce expansion, which focuses on assembling a bench of talented professionals ready to join the game. Andrew shares his vision for the future of real estate, advocating for an industry that is more accessible, customer-centric, and cost-effective.
What have you read that we should read?
- Andrew Segal (46:30): So I reread a book that came out when I was, I think nine years old. It was Free to Choose by Milton and Rose Friedman. Milton Friedman was an economist who won the Nobel Prize in economics. He was the person who was credited with explaining to us how inflation worked, and it was really the first version of Freakonomics. And there’s so much in that book that was relevant in the seventies, that’s even more relevant dust and see why he won the Nobel Prize for.
- Free to Choose by Milton and Rose Friedman
Who do you know that we should know?
- Andrew Segal (39:51): So two groups that you should pay attention to. One is the Caruso organization based in Los Angeles. They did a project called The Grove, which may be the most fabulous urban renewal mall, whatever you want to call it. It’s kind of a little bit of everything that’s there. I took my team to go see it and we were standing at the valet service watching what was like a valet and a guy, the head valet comes, he puts his arm around me. He goes, so you own a mall? I said, how did you know? He goes, nobody else would be staring at the valet operation as long as you dido’s execution is just amazing. And the other one is our mutual friend, Chris Powers at For Capital for capital made a decision to become a connector, to become a leader, to become someone who was socializing thoughts and innovation. And you say to yourself, how does this drive more warehouse purchases? But when you spend enough time with his team, you realize how great they’ve become by leading. It’s really, really interesting. Those two are two of my inspirations.
- Caruso – website
- Caruso – The Grove – website
- The Grove LA – website
- Fort Capital – website
- The Fort Podcast – website
- Chris Powers – LinkedIn
- Redemptification – episode with Chris Powers
Where have you been that we should go?
- Andrew Segal (44:18): A couple of things. One thing that blew my mind very recently was Manila, the Philippines. I’ve traveled around the world, I’ve been to India things, and I was horrified at how great a city this was that I really knew very little about. I was standing in some shopping centers. There was one, I think it’s the most beautiful shopping center I’ve ever been in India, and I’m talking about Miami and New York and Paris. They really taught me some humility about thinking that all the answers were here. And part of it is just exploring and exploring without a necessary agenda. I went to Mongolia twice last summer, a long story, and I learned so much about politics from that country. So longer explanation, but get out there and go see things. The explorers win in the end. And of course come see our mall in Fort Worth. It’s really fun.
- La Gran Plaza – website
- Manilla – website
- India – website