Jason Rexinis

@realEstateTrent Diversifying is key

Side note: Ashton Kutcher is known to be an incredibly gifted and savvy businessperson. He started focusing on Silicon Valley startups before it became cool - and it’s well-publicized he began investing in 2009. According to recent headlines, he is now a billionaire - and will perhaps go down as the most financially successful actor of all time. Well played, Kelso.

@WRBolen 😆

Me when my wife tells me to put my phone away at the dinner table

@HankFrank @Garrick_Gan the Garmin is anywhere from $800-$1,200- isn't that about 5 years worth of whoop subscriptions?

@Garrick_Gan That’s the move that changes things. If Garmin gives you the same data in a band form with no subscription, the only thing WHOOP has left is the UI.

I’ve worn a WHOOP every day for 3+ years. Bought a discounted 2-year membership because I’m a data nerd and I love this stuff. I’m still not sure I’ll renew when it’s up. Not because it’s a bad product. It taught me a lot early on. Alcohol tanks recovery. Sleep is everything. Easy days need to actually be easy. That was valuable. But once you learn those lessons you don’t need a monthly subscription to remind you. Garmin gives me the same data with no fee. The people I know who wore one loved it for 6 months then stopped. Not because they lost interest. Because the data stopped telling them anything new. $10.1B is a huge number. I just wonder how many members right now are in month 8 thinking the same thing I am.

@aakashgupta Folks have a hard time selling their company’s when they are at peak. It happens to so many.

Allbirds is a case study in how to kill a DTC darling from the inside out. November 3, 2021. Shares open at $21.21, surge 91% on day one, close at $28.64. Market cap touches $4.1 billion. Time magazine had already called them "the world's most comfortable shoes." Silicon Valley was wearing them like a uniform. Fidelity, T. Rowe Price, Tiger Global, and Franklin Templeton had poured $253 million into the company before it ever went public. The IPO raised another $303 million. Total capital absorbed: over half a billion dollars. Sale price today: $39 million. That's a 99% value destruction from peak to exit. The decline wasn't sudden. Revenue peaked near $305 million in 2022, then started falling. $254 million in 2023. $190 million in 2024. Losses never stopped. $25.9 million loss in 2020. $93 million loss in 2024. In January 2026, they announced they were closing every full-price retail store in the United States. And here's the part that should terrify every DTC founder watching this. The acquirer, American Exchange Group, owns Aerosoles, Ed Hardy, Rampage, and White Mountain. These are brands that live in outlet malls and TJ Maxx. That's where Allbirds is headed. The $95 wool sneaker that Obama wore is about to sit on the same shelf as Ed Hardy. The investors who funded this at a $1.7 billion valuation in 2020 are getting back roughly 2 cents on the dollar. The public market investors who bought at $28.64 on IPO day watched the stock fall to $3.18. Every DTC brand that went public in 2021 told the same story: "We're a tech company that happens to sell physical products." Allbirds, Warby Parker, Rent the Runway, FIGS, Sweetgreen. The market believed it. Then it did the math.

@resetbasis @realEstateTrent 😄

@realEstateTrent Congrats. Guys with two first names are built different

It took thousands of applicants, countless interviews with incredible candidates - but the journey is finally complete. He brings deep acquisitions experience in the retail business - and our team is fired up🎉 Today we welcome Grant Scott as our Director of Acquisitions, covering everything east of Texas! Many retail brokers already know Grant. Even if you don't, he'd love to hear from you. I have never met anyone hungrier to find deals! Brokers - we are deploying another $100M+ now, our deals are all-cash, and we buy strip centers anywhere in America. If you have a deal, reach out to me, or to Grant, or to Maria Talpas - let's chat, and let's do some deals!

@themgmtconsult great advice!

Worked 2 decades in in consulting. Made Partner in my 30s. Led teams of 100+ people. Run 9-figure client portfolios. Lived and worked in 4 continents. Young people are entering the workforce at a strange moment. AI can draft your emails, build your slides, write your code, analyse your data, simulate your voice. The default advice sounds smart: "Upskill" "Learn AI" "Be adaptable" Obvious stuff. Let me give you 5 slightly heretical (but useful) ideas if you actually want leverage in the AI age. Not survival. Leverage. 1) LEARN TO SELL BEFORE YOU LEARN TO BUILD Everyone is learning to build with AI; who's learning to sell? Because production is cheap, distribution is not. In my experience, markets reward those who can convince others that something should exist and then align capital, people & narrative around it. E.g., Steve Jobs didn't invent the GUI, the MP3 player, or the smartphone. He sold a vision of WHY they were cool. Or Elon Musk. You can argue about him all day, but he bends capital markets through narrative force. Young people obsess over becoming technically formidable. Good, but if you can't: > articulate a problem in a way that feels urgent > create emotional energy around a solution > negotiate compensation/scope > pitch yourself w/o sounding desperate AI will outperform you on the build, and someone else will capture the upside. 2) BUILD SENSE-MAKING AI can generate infinite variations but it can't reliably tell you which one is elegant. You need pattern recognition + aesthetic + strategic sensemaking. You need the extraordinarily valuable ability to say "This feels right"... and be correct 90% of times. Steve Jobs called it "taste". Designers call it judgment. I prefer discernment. Where does it come from? Exposure. Feedback. Long apprenticeship. Studying history. Reading widely. Being around people better than you. Caring about the craft. Everyone can create, but can you curate? That's the challenge I'm giving myself. 3) CHASE POSITION AI makes you faster. So what? Speed in the wrong direction is basically accelerated irrelevance. Young professionals obsess over productivity hacks, automating emails, summarise meetings, generate slide drafts. BS. Meanwhile, someone else is positioning themselves closer to revenue, clients, capital allocation. You want exposure to projects with visibility, problems tied to money, roles adjacent to decision-makers. If you become the most efficient note-taker in the company, AI will replace you. If you become the person who reframes what the company should be doing, it won't. Simple. 4) LEARN TO WORK WITH AFRAID HUMANS I see AI is making people anxious. Managers worry about irrelevance. Employees worry about layoffs. Executives worry about being disrupted. Walk into that fear and stabilise people: > explain AI w/o hype > show people how it augments rather than humiliates them > design transitions instead of revolutions Look at Satya Nadella. He pivoted Microsoft to cloud & AI, and changed the internal psychology of the firm from know-it-all to learn-it-all. If you understand identity & ego, you will navigate the AI era far better than someone who just knows Python. 5) OPTIMISE FOR OPTION VALUE Prestige brands still matter. McKinsey, Goldman Sachs, Google still open doors. But if you optimise purely for logo collection, you might wake up one morning highly employable and strategically constrained. The AI era will produce volatility, with entire functions that will shrink and new ones that will explode. Option value means: > skills that transfer > geographic flexibility > intellectual independence > networks that span industries > income streams that are not singular Status feels good today but options protect you tomorrow. Chase convexity: small downside, large upside exposure. You want an identity not fully fused with your employer. When layoffs come (they will) your sense of self doesn't disintegrate. All the best!

@OnlyInBOS Matignon School was sold a few years ago….

Someone built a website tracking every New England high school still using “Indian” mascots, names, and logos. The list is longer than you think. sanfacon.com/mascots/school…

@goodlifeyoda really spot on description of it. 👏🏻

The Top Golf sale is a perfect encapsulation of where we are currently in the game. Callaway made a 2 billion dollar bet on exposing non-traditional golfers to driving range golf hoping they’d become core golfers and buy Callaway’s clubs and balls, long-term. This naturally didn’t work because: 1. Actual golfers hate the concept and execution. No one wants to see drunk and non-drunk people top shots, shank, body pirouetting after a shot, yelling/wooing after a shot, showing up in jeans or bros with their hats backwards hitting golf balls as hard as they can while eating nachos between shots. 2. The 10-12 acre facilities are in the middle of town and total eyesores. It’s the ugliest business in every town they occupy. 3. Similar to bowling, the only people that go are big groups for “team building”, double-dates, and birthday/Christmas parties. To survive the business needs recurring revenue, not customers that show up 2x per year. 4. The menu is microwaved and/or fried Sysco bag food and the waitresses don’t look like Hooters girls from the late 80’s and early 90’s - when they looked like they could be on Baywatch. It’s hard to imagine losing 1 billion dollars in 4 years on what should be a core competency. This should be a lesson to all golf-related businesses chasing non-core golfers, but it won’t be. The powers that be will continue going after the lowest common denominator. The End.

Was a pleasure working with the SQ team on securing space for their r&d operations here in the US. bostonrealestatetimes.com/swiss-biopharm…

One of the biggest life science deals of 2025 just got signed in Cambridge, MA. The company is an AI biotech startup. Landlord and tenant both agreed on zero security deposit.

Great team effort all around. bostonrealestatetimes.com/qinetiq-inc-re…

It’s evident that class A product is winning all the deals. Tons of construction going on within the walls of class A buildings. If you own class B…time to start thinking about major renovations to attract new tenants

If you have a decent sized tenant requirement right now, most brokers are sending unsolicited offers and spaces - even in markets they aren’t touring in. A sign of the times I suppose.

Touring one of the best buildings in Newton, MA. Office activity is picking up out here

@BR_OpenIce Coors light is an elite beer

Just broke a 31 year standing all-time goals record… time for a well deserved locker room soda 😅 #Gr8Chase

@chasedownleads 😂

Is there a better place to spend a Friday than here?

Some institutional landlords take 4-6 weeks to respond to an RFP, while most local landlords respond within 4-6 days. In this market, speed is a major competitive advantage!

313 Washington St. in Newton just sold for under $100/PSF. Almost half of what it was purchased for in 2015.

Often times when we represent a buyer, we send the landlord an offer to purchase. A lot of landlords do not even bother countering which leaves the broker and buyer in a tough spot. Landlords.. if you have a property for sale even off market, send a counter! It goes a long way!

Cambridge Eliminates Single-Family Zoning, Allowing 6-Story Apartments Across City. Finally we are starting to see towns and cities and MA open up and allow for more housing to be built.