No Cap by CRE Daily

Latest Episodes:

Will Tariffs Kill Your Favorite Brands? We Asked the Insider Who Knows Apr 13, 2025

Show notes

Season 2, Episode 11: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik are joined by CNBC’s Senior Retail Reporter, Courtney Reagan, to discuss the fast-evolving retail market. From Q4 earnings to tariff shocks and the future of physical retail, Courtney breaks down the latest trends and challenges facing major brands like Walmart, Gap, and luxury retailers on Fifth Avenue.
They dive deep into how the retail environment is shifting, with policy changes, economic uncertainty, and evolving consumer behavior at the forefront. Plus, Courtney shares insights on why some retailers are struggling, how e-commerce is reshaping the landscape, and what the future holds for in-store shopping.
CHAPTERS:
00:00 – Introduction
04:52 – Wealth Perception & Consumer Spending
14:55 – Groceries, Inflation, and the Future of Big Box Retail
20:18 – Retail Stress: Fed’s Impact & Luxury Brands
33:31 – Manufacturers & Nostalgia's Influence on Consumers
41:55 – Persisting Tariffs & Evolving Retail
48:31 – Retail Return Fraud & TJ Maxx's Dynamic Inventory
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

How Spencer Burton Accidentally Built the #1 Real Estate Resource Apr 06, 2025

Show notes

Season 2, Episode 10: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Spencer Burton, co-founder of Adventures in CRE and CRE Agents, to explore how technology and innovation are transforming the real estate industry.
With years of experience in real estate, Spencer shares how he revolutionized the field by creating essential financial modeling tools used by thousands and pioneering AI-powered digital coworkers. From his early days as an analyst to founding AC and now leading CR Agents, Spencer gives us an insider's view of the future of real estate, where automation and digital entities will take on repetitive tasks and allow professionals to elevate their work.
CHAPTERS:
00:00 - Introduction
04:00 - Community & Free Models
12:34 - The ACR Project & Accelerator Program
18:21 - Land Brokerage & Panama
24:26 - Time, Growth & Consulting
31:54 - Stablewood & Tech
40:34 - Vertical AI Platforms & Digital Coworkers
48:10 - AI Future & Fun
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

KBS CEO Reveals SECRET to Office Success Mar 30, 2025

Show notes

Season 2, Episode 9: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Marc DeLuca, CEO of KBS, to explore how the firm has navigated the ever-changing landscape of office real estate.
With over 30 years of experience in the industry, Marc has managed billions of dollars in real estate across the Eastern U.S. and Mid-Atlantic regions, overseeing some of the most strategic acquisitions in the office sector. He shares the secrets to KBS’s success, from innovative office amenities to a renewed focus on tenant relationships.
Learn how KBS has continued to excel in the office space market despite the challenges posed by COVID-19, economic uncertainty, and shifting workplace trends.
CHAPTERS:
00:00 – Introduction
09:53 – Shifting Focus & Challenges
19:44 – Tenant Support & Interest Rates
25:22 – Return to Office & Recovery
35:14 – Leasing Demand & Corporate Moves
43:33 – Financing in Uncertain Times
49:35 – Top Markets & KBS Adaptation
57:02 – Innovative Amenities & Trends
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

How AI is Making CRE Brokers More Efficient Than Ever w/ Albert Lojko Mar 23, 2025

Show notes

Season 2, Episode 8: In this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik sit down with Albert Lojko, President of Lightbox, a company revolutionizing commercial real estate (CRE) by organizing and digitizing fragmented data. Albert discusses how Lightbox is streamlining transactions, enhancing collaboration, and automating key processes, including appraisals and document generation, using AI to improve efficiency and reduce errors.
Learn how Lightbox is transforming the CRE industry and how their platform is helping brokers, investors, and lenders make smarter, faster decisions together.
CHAPTERS:
00:00 – Introduction
06:38 – Innovating the CRE Market
12:13 – Data Platforms in Transactions
19:45 – AI & Human Expertise for Accuracy
25:07 – AI’s Role in Data and Docs
29:24 – Automating Appraisals
36:44 – Lightbox ID & Innovation
41:59 – The Future of Appraisers
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Building the Largest Privately Owned Self-Storage Company w/ Cris Burnam Mar 16, 2025

Show notes

Season 2, Episode 7: On this episode of the No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Cris Burnham, CEO of StorageMart, the world’s largest privately owned self-storage company. Cris shares the journey from his father's humble real estate beginnings to growing StorageMart into a multibillion-dollar empire, including the $3.2B acquisition of Manhattan Mini Storage.
Cris dives into the industry's evolution, from strategic partnerships to adaptive reuse and technological advancements, and discusses the ongoing challenges facing the self-storage sector—like declining home sales and market saturation.
CHAPTERS:
00:00 – Introduction
0:26 -- Cris Burnam's Journey with Storage Mart
06:08 – Hostile Takeover and Major Acquisition
13:36 – The $7.5 Billion Self-Storage Partnership
25:10 – Adaptive Reuse of Office Spaces for Self-Storage
33:18 – Iconic Billboard Strategy
37:34 – Declining Home Sales and Storage Auctions
45:03 – International Self-Storage Growth
54:50 – The Future of Self-Storage and Market Shifts
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Barron Trump’s First Real Estate Deal? Plus, Tax Hacks & Multifamily w/ Omar Khan Mar 09, 2025

Show notes

Season 2, Episode 6: In this episode of No Cap Podcast, hosts Jack Stone and Alex Gornik are joined by Omar Khan, founder of Boardwalk Wealth. Omar brings over $3.7B in capital financing and M&A experience, along with a track record of raising over $50 million in equity. He shares his journey from investment banking to commercial real estate, giving us valuable insights into his successful deals and why strategic partnerships and tax efficiency are crucial for multifamily investments.
But the conversation doesn’t stop there.
We also dive into some of the most talked-about real estate news of the moment: Baron Trump’s real estate ambitions, the Fed’s ongoing interest rate decisions, and how the multifamily market is being shaped by inflation, tariffs, and other key market factors.
CHAPTERS:
0:00 – Introduction
2:30 – Baron Trump’s Real Estate Move
5:30 – Baron Trump Entering Real Estate
10:00 – Trump’s Legacy & Policies
15:00 – Impact of Interest Rates on Real Estate
18:00 – Mortgage Rates & Buyer Impact
23:00 – North Dakota Tax Breaks & Appeal
26:00 – Investing in Secondary Markets
32:00 – Real Estate Strategies for Smaller Markets
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

What's Behind Crow Holdings MASSIVE $33 Billion Real Estate Empire Mar 07, 2025

Show notes

Season 2, Episode 5: In this episode of No Cap by CRE Daily, hosts Jack Stone and Alex Gornik sit down with Michael Levy, CEO of Crow Holdings, one of the most influential real estate companies in the world. Michael shares his personal journey and the history of Crow Holdings, diving deep into their innovative approach to real estate, sustainability, and expansion into energy and mass timber development.
They discuss Crow’s legacy, how the company is revolutionizing construction, and how its commitment to long-term environmental impact is shaping the future of the real estate industry.
CHAPTERS:
00:00 - Introduction
02:08 - Dallas vs. New York
05:33 - Moving to Dallas and Joining Crow
10:42 - Crow Holdings Legacy and Culture
17:17 - The Old Parkland Campus
23:09 - Expansion into Energy & Timber
30:02 - Multifamily & Industrial Development Focus
40:28 - Industrial Market Trends
50:35 - Sustainability & Innovation in Real Estate
55:58 - Leadership Approach at Crow Holdings
01:00:22 - AI and Tech in Real Estate
01:05:11 - Career Advice & Success Insights
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

What It Takes To Be A Successful Broker In NYC w/ Bob Knakal Feb 23, 2025

Show notes

Season 2, Episode 4: In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone sit down with Bob Knakal, Chairman and CEO of BK Real Estate Advisors. Bob, one of New York City’s top brokers, shares his journey and insights on how he became a leader in the real estate market.
They dive into the importance of market knowledge, why prospecting is key to success, and how Bob used social media to expand his reach. Plus, Bob shares what makes the New York market unique and offers advice for aspiring brokers looking to make their mark.
CHAPTERS:
0:00 - Introduction
3:00 - Bob’s Journey in Real Estate
7:30 - The Importance of Market Knowledge
12:00 - How to Stay on Top in a Competitive Market
15:45 - Building a Legacy in Investment Sales
20:30 - The Role of Social Media in Real Estate
25:00 - What Sets New York’s Real Estate Market Apart
30:00 - Current Trends and the Future of the Market
35:00 - Advice for Aspiring Brokers and Real Estate Professionals
40:00 - The Power of Specialization and Expertise
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estat4.

C-PACE Financing: The Best-Kept Secret in Real Estate? Feb 16, 2025

Show notes

Season 2, Episode 3: C-PACE Financing: The Best-Kept Secret in Real Estate?
In this episode of No Cap by CRE Daily, hosts Alex Gornik and Jack Stone are joined by Robbie Pinkas, Senior Vice President of PACE Loan Group. They dive into the world of C-PACE financing, explaining how it works and how it can fund energy-efficient improvements, making your property more sustainable and valuable.
They also discuss how C-PACE fits into the broader financing landscape, its differences from traditional loans, and why it's important to fully understand the details before jumping in. If you’re wondering whether C-PACE financing is the right fit for your next project, this episode has everything you need to know!
CHAPTERS:
0:00 - Introduction
3:23 - Barry Stern's Return of Starwood Hotels
10:11 - Chrysler Building Leasehold Loss
15:31 - Loan Modifications and Financing Trends
19:47 - What is C-PACE Financing?
26:57 - Sound Stage in St. Louis
29:36 - Downtown LA Office Tower
36:17 - Getting in Touch with Robbie Pinkas
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Is Converting Old Offices into Apartments THE BEST Solution to Housing Shortages? Feb 09, 2025

Show notes

Season 2, Episode 2: In this episode of No Cap by CRE Daily, we explore the rising trend of adaptive reuse in real estate—converting old offices into apartments as a potential solution to the housing shortage.
Join hosts Alexander Gornik and Jack Stone as they chat with Anoop Dave and Tim Gordon, Co-Founders of Victrix Investment. They share insights on the challenges and opportunities in transforming office spaces into residential properties.
TOPICS
0:00 - Introduction
2:15 - Civic Support In Adaptive Reuse
6:00 - Federal Government’s Role In Conversions
9:47 - Hudson Yards Casino Bid & Zoning
12:00 - Office-To-Home Challenges In NYC
14:00 - Insights On Adaptive Reuse
19:13 - Office To Residential Shift
24:34 - Success Stories
31:28 - Adaptive Reuse Obstacles
36:18 - Financial Hurdles & Due Diligence
41:00 - Future Of Adaptive Reuse
We want to thank our sponsor Greysteel.
For more episodes of No Cap by CRE Daily visit https://www.credaily.com/podcast/
Watch this episode on YouTube: https://www.youtube.com/@NoCapCREDaily
About No Cap Podcast
Commercial real estate is a $20 trillion industry and a force that shapes America’s economic fabric and culture. No Cap by CRE Daily is the commercial real estate podcast that gives you an unfiltered ”No Cap” look into the industry’s biggest trends and the money game behind them. Each week co-hosts Jack Stone and Alex Gornik break down the latest headlines with some of the most influential and entertaining figures in commercial real estate.
About CRE Daily
CRE Daily is a digital media company covering the business of commercial real estate. Our mission is to empower professionals with the knowledge they need to make smarter decisions and do more business. We do this through our flagship newsletter (CRE Daily) which is read by 65,000+ investors, developers, brokers, and business leaders across the country. Our smart brevity format combined with need-to-know trends has made us one of the fastest growing media brands in commercial real estate.

Our TOPPODCAST Picks

Follow Us

Stay Connected

Related Podcasts

Links

Stay Connected