First Vice President of Investments
Marcus & Millichap
“There is only one way to break into the business and that is to outwork the competition”
As the top performing broker at Marcus & Millichap’s Denver office, First Vice President of Investments and Director of the Net Leased Properties Group & National Retail Group, Drew Isaac does not believe in cutting corners when it comes to succeeding in the commercial real estate industry. In fact, Isaac believes there is only one way to break into the brokerage business and that is to outwork the competition.
Isaac started with Marcus & Millichap as a brand-new graduate of the University of Denver’s Daniels College of Business, where he earned his BSBA in Real Estate and Finance. During his first six years in the business, Isaac was a one-man-band, fulfilling all the roles and responsibilities within the brokerage continuum, including research, cold calling, business development, underwriting, proposal presentation, contracts, marketing, escrow, closings. While the experience served him well, Isaac quickly realized he would need to build a team to accomplish his objective, “My career crossed the tipping point when I made the decision to build a team. My first step was hiring a marketing coordinator to focus exclusively on marketing materials and I truly believe our marketing is best in the business. I then hired research analysts to look up comps and property owners. Once I had the infrastructure in place to handle additional business, I added junior agents to my team to focus on business development,” he explains.
Today, Isaac leads a team of highly qualified professionals specializing in the disposition and acquisition of commercial real estate investment properties throughout the country. He continues to be an integral part in the firm’s efforts to mentor its emerging brokers. He has mentored three new agents who have gone on to become successful agents in the business. “I currently have two junior brokers that I mentor, both of whom have closed investment sales transactions in their first year and are well on their way to successful brokerage careers,” he says. The best piece of advice he would give an emerging broker is to outwork your competition and always play the long game. “Doing what’s in your clients best interest, as opposed to doing what’s in your best interest, pays off over time.”
Isaac’s core brokerage focus is the analysis, marketing, and investor representation of net leased retail assets. Having successfully brokered more than 140 investment sales in 28 states, Isaac offers his clients a unique national perspective combined with a deep depth of deal experience. Isaac has executed portfolio disposition strategies for build-to-suit (BTS) developers; has structured sale leaseback transactions for both public and private companies; and represented private capital investors, high-net worth individuals, family trusts,1031 exchangers, and some of the nation’s largest institutional and private equity investors in their commercial real estate acquisitions and dispositions.
Isaac’s greatest challenge to date, just so happens to be the same thing he credits his success to. Starting off his career during the 2008 recession had its set of challenges, but his determination combined with his lack of experience as a young broker, helped mold him into the business man he is today. “Luckily, I was just out of college and I was oblivious to market cycles. I just thought it was a difficult job and you had to be extremely hard working and diligent to get deals done,” he says. “The skills and habits I learned in 2008 and 2009 formed the foundation of how I do business today.”
Over the course of his career, Isaac has done a number of sale leasebacks for Good Times Burgers & Frozen Custard, the most recent of which, remains one of his proudest achievements. “Since their deals are all structured similarly and they’re unique to Colorado, I use them as a barometer of the market. We used to be excited when we achieved an 8 percent CAP rate but we closed their newest store, located in Greeley, CO, in March of this year for a 5.25 percent CAP rate. It’s a great example of how strong the demand is in Colorado for retail investment properties,” says Isaac.
Isaac has been a top producing agent and has received numerous awards during his time with Marcus & Millichap, including the Denver office’s top investment broker of net leased properties from 2010 to 2016, Sales Recognition Awards in 2013, 2014, 2015, 2016 and 2017. In 2015 Isaac was awarded the Denver office’s Broker of the Year award, in both 2015 and 2016 he earned Platinum National Achievement Awards, was a top 20 net leased/retail broker out of Marcus & Millichap’s 1,500+ agents, and was the 6th ranked investment sales agent on the Denver Metro Commercial Association of Broker’s annual Heavy Hitters list.