Business > Business People > A Conversation With/5 Questions

Posted on Sun, Nov. 08, 2009

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Chicago native Patrick Ahern came to Wichita more than a decade ago to work in the corporate real estate office of Koch Industries.

After a year, he joined Grubb & Ellis/Martens Commercial Group, where he leases office space and sells commercial real estate.

Ahern handles leasing at places like the Epic Center and three Wilson Estates buildings. Perhaps the most notable building he has listed for sale right now is the former Union Station downtown.

How did a Chicago boy wind up at the University of Arizona?

"The weather seemed really attractive to me."

Even as a child, you knew you wanted to go into real estate. Why?

"It's funny because when I was in ... first or second grade they were building the Sears Tower, which at the time was the world's tallest building, and they were also working on the John Hancock building.

"My father worked downtown, and sometimes we'd go down there with him on Saturdays. And I was always enamored with the buildings because they were like man-made mountains."

So why didn't you go into architecture?

"I guess because architecture's too technical.

"It sounds like a cliche, but I guess I'm more of a people person."

Your first job was leasing two downtown Chicago office buildings. How was that?

"It was a great learning experience. (One) building was almost right across the street from the courthouse. I got to do quite a few deals."

What's the most important thing you learned?

"Probably 'location, location, location' is really true in our industry."

When you started working in real estate in Wichita, how did you come to be so involved with downtown?

"When I started working here, there really wasn't anyone who focused in downtown real estate and downtown office buildings. I kind of made that my niche."

Why was no one else interested?

"The flow at that time was one way ... which was leaving downtown."

Wasn't taking on downtown kind of daunting?

"I thought Wichita had a nice downtown. I thought that there was a lot of opportunity and there wasn't very much competition.

"Now there's a lot more interest in downtown than there ever has been for a lot of different reasons."

Like?

"The arena is going to have the biggest impact. I would say secondly, the Minnesota Guys — some of the things that they've done in sheer volume. I think they own 12 buildings, and they've put a lot of money into the buildings, which no one had done."

So do you look at everyone else as Johnny-come-latelies to downtown?

"It's not like I was the sole keeper of downtown. I'm tickled to see it have some revitalization."

What's your favorite part of downtown?

"It's extremely convenient. If I have a showing at Epic Center, I can be there in three minutes."

Anything else?

"The tradition of it. ... Some of the buildings go back to the early 1900s."

What's downtown's biggest need?

"My biggest thing is parking. And the first thing that tenants ask me about is parking. Sometimes tenants are more interested in seeing the parking space than the office space. That's how important it is to them, and if you don't have the right kind of parking, it's very, very difficult to lease office space."

Does downtown have a parking deficit?

"Some buildings. And most of the buildings that sit vacant today, one of the reasons is they don't have enough parking."

How is working here compared to Chicago?

"It's a better place to do business because the people are more honest, and they're a lot more friendly, and they're more apt to help. When you live in a big city like Chicago, you have to watch your back a lot more."

So now you're taking your own children to visit downtown. Are you worried there's a danger they'll want to go into real estate, too?

"I wouldn't discourage them, but I just think there's easier ways to make money."

Why?

"You'll work and work and through no fault of your own, something doesn't work out, and you don't get paid. The barriers to entry to get in the business are not that high, but to stay in business and be successful are."

Do you wish you'd gone into another field?

"No."

Why?

"Just the excitement of it.... I'd rather live at one extreme or the other, but not in the middle. When I was at Koch, you got a paycheck no matter what.

"Where we are now, you really eat what you kill. When something does close or a lease does get signed, there's a rush, and there's a lot of excitement."

What's one thing no one knows about you?

"On Saturday nights during the fall, I can be found sitting in my driveway listening to the Arizona Wildcat football game on XM radio.

"I have XM in my car. I don't have it in my house."

Got a hot tip or quirky story? Call Carrie Rengers at 316-268-6340 or e-mail crengers@wichitaeagle.com.