Measuring Effectiveness - Mark Dufton - Security Download - Episode # 006

Security Download

Today’s guest has over 25 years in the commercial real estate industry. After graduating in the top 10% of his class from West Point, he spent his time honing his craft and passion for real estate. Please welcome to the show, Mark Dufton! Mark is the Managing Partner of Dinosaur Capital Partners, and he joins the host Anna Redmond to talk about the role that security places in commercial real estate and protecting the assets.

Takeaways:

• When companies are planning on building a piece of real estate, they often forget the importance of security for the property. A solution to this would be to have an independent security consultant be involved in the design process and hear their input.
• Commercial real estate is a 20 plus trillion dollar market, but the current level of technology is behind the current times in a lot of cases. This means that security has taken a backseat in many cases.
• Nationwide, Mall properties are going to be reduced from 12,000 or 13,000 properties all the way to 700 properties, and office properties have been struggling as well. These are the two biggest users of visible security.
• As the property owner, you are going to know more about the property than a security firm that is coming on for their first day. In order to best prepare them, give them a head start by going through a security audit.
• The technology aspect of security is where commercial real estate is lacking as an industry. Video cameras and other pieces of technology are an easier way to provide safety for tenants and other people in the property.
• At a certain point, the cost of security that is being implemented starts to outweigh the benefit to it and there is no one at the wheel to identify the turning points.
• In an inflationary environment, property owners will start to look at the utilities they might be paying for and other aspects such as property insurance, and security is usually the aspect where they tend to cut back, which leads to a reduction in the safety of the property.

Quote of the Show:

28:35 “Each property should have some form of security assessment, even if it's semi-formal.”

Links:

• LinkedIn: https://www.linkedin.com/in/markdufton/
• Website: https://www.dinosaurcap.com/
• Twitter: https://twitter.com/markdufton

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• Apple Podcast - https://podcasts.apple.com/us/podcast/security-download/id1664540144
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• Stitcher - https://www.stitcher.com/show/security-download
• YouTube - https://youtu.be/Tjj-qDAx9uQ

Security Download is produced by Ringmaster, on a mission to create connections through B2B podcasts. Learn more at https://ringmaster.com/