In the News 2008
Colton Sudberry - Beyond the Business Card.
March 3, 2008
Family is very important to Colton Sudberry. He is senior vice president at Sudberry Properties Inc. in San Diego, which was founded by his father Tom Sudberry in 1979.
The company builds retail, office and industrial properties, all of which Colton Sudberry oversees, though his hands-on
work occurs in the shopping center arena.
Sudberry Properties' most recent retail development, the 162,000 square-foot Village Walk at EastLake shopping center in Chula Vista anchored by Henry's Marketplace, Trader Joe's and a Borders bookstore, was completed in the fall. It is next door to Colton's first project while working for the family business, the 410,000 square-foot EastLake Village Marketplace. At home, his wife Cyndi and he have two young daughters and welcomed a son at the end of August.
What made you want to get into real estate?
I grew up in the real estate business, so just the table talk and towing around construction sites with my dad got me interested.
What non-real estate experience has helped you in your career?
I've been fortunate enough to be able to travel extensively to places like Europe and South America. I have seen from a consumer standpoint some really exciting concepts for retail. And in our travels through the United States, there are a tnt of great streets and places we have visited and drawn on.
What did you learn playing football that helps you in real estate development?
Discipline. And, I learned how to take a beating. I got beat up a lot at Colorado and I get beat up at work sometimes, too. You learn how to take a beating and keep coming back.
What one thing have you learned in your career that has contributed the most to your success?
I think a lot of people start their careen in a very specific part of their job and learn to do one aspect extremely well, but they don't learn all of the aspects, like what makes a site a good deaL I was fortunate to work at places early that helped me have those skills.
What is the most challenging aspect of your Job?
Navigating the city entitlement process. It's very difficult to get all of the timing to workout properly. A lot of deals don't come together, simply because of the time involved.
What is the biggest challenge for your industry right now?
One of the biggest challenges we see today is the uncertainty of the credit markets. No one knows yet what that will really mean for us. Financing is uncertain, (municipal) approvals are uncertain and then the housing slowdown has an impact on consumer spending.
What should people know about you before they do business with you?
We treat our consultants fairly and we want them to treat us fairly and be upfront We've been fortunate enough to work with some really great people.
What was the most important day of your life?
It's probably a series of events. I could say making the decision to get into the real estate business, but it's got to be about family-getting married and having kids.
How is working in a family-owned business different from working for other businesses?
I think you put more pressure on yourself to do right by the family business and make sure it doesn't go south on your watch, I want to leave it in better shape than found it.
Was there ever a deal or project that you wished hadn't gotten away?
Absolutely. There have been a few where we have been stung or where we just weren't the right fit for the family or the seller.
What keeps you up at night?
The upfront stuff, the designing of the project. Trying to come up with the right size and dimensions of the public plazas and finding the right mix of tenants.
What's your favorite leisure activity?
My hobby is golf. More and more as my kids get older, (my hobby is) having fun with my kids, taking them fishing or to the beach or golf course. They like to hang out and drive the cart.
If you weren't doing this, what would you be doing?
I'd be doing whatever it takes to be in San Diego, because I love it here. Id probably be doing something the opposite of what I do now, like being a lifeguard at the beach.
Interview by Mandy Jackson
California Real Estate Journal