MNCAR – Monthly Spotlight- Katie Trevena
1. Why did you join MNCAR and how long have you been a member?
Joining MNCAR was one of the first things I did when I transitioned from Property Management into Advisory/Brokerage in 2018. I knew MNCAR would offer training and education, access to market research and listings but what I found most valuable has been the networking opportunities among the great brokerage community we have in the Twin Cities.
2. In one sentence, what do you want MNCAR members to know about your business?
Your purpose is our passion-we take your business seriously as if it were our own and work to find the best possible real estate outcome to help your business achieve its goals.
3. Name one fun fact that makes your company or yourself different from others.
We have a fantastic group of people and a wonderful culture we are building at Forte Real Estate Partners. Whether it be our daily Star tribune quiz we take together, packing meals together at a non-profit, employee retreats. We are an extremely collaborative team and are proud to offer our clients an array of services with a high-level of customer service especially for our size.
4. What is the most encouraging thing you see for the future of the CRE industry?
In the near term, I am cautiously optimistic that the U.S. Federal Reserve will reduce rates in 2024. There has been a lot of capital on the sidelines and know movement in the rates will allow for further opportunity and potentially further relief for some. Change is the only constant and that can certainly be said of CRE. We will continue to see more adoption of technology solutions such as AI, data analytics and virtual reality. The evolution of office space adapting to changing work, lifestyle patterns and demographic shifts has been accelerated over the last few years and we are just at the tip of the iceberg of understanding the implications of WFH and the changing office market. There will be ample opportunity for redevelopment of corporate campuses to enhance urban infrastructure, public spaces and mixed-use development that will contributes to vibrant and thriving communities.
5. What was your most interesting project of the year and why?
In a market which has proven very challenging for new development, I had the opportunity to work with business partner Steve Brown and a client on an 80,000 build-to-suit. We have been working on the project over the last few years and delivery is expected in 2025. I’ve learned so much through site selection, feasibility, negotiating the lease, entitlements, design and planning, and will continue to learn more once construction kicks off in 2024. It’s been a privilege to work with the client, developer, project manager, attorney, etc. to see this exciting new venture come together for a great client!
6. What do you enjoy most about the CRE industry?
I love that every single day is new and different- everything from client needs and requirements, opportunities to meet and work with a wide variety of professionals, no transaction is ever the same!
7. Any advice you have for someone considering the CRE industry?
Networking is key- build and maintain a strong professional network, join real estate associations and seek mentorship. Learning from others with relevant practical experience is so important.
8. What are you currently binge-watching?
I’m currently on a book binge..does that count? I recently read that only 1% of adults in the US reads 50 books or more per year so that’s my goal. My 2024 reads have included The Covenant of Water, Tom Lake, The Dutch House and Remarkably Bright Creatures.
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