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Bio
This is a two part biography as Bruce Pascal has developed both a thriving commercial real estate brokerage practice and a healthy career as a Hot Wheels collector and curator.
Overview
INNOVATOR | REAL ESTATE | ENTREPRENEUR
Seasoned and award-winning executive with a proven track record spanning more than three decades,
known for overcoming challenges and driving success in diverse projects. A visionary leader and
influential figure in the real estate industry. Possesses a remarkable history of international diplomacy,
through human rights advocacy in personal interaction with two popes, Middle Eastern leaders, and the
intermediary work in Alan Gross’s Cuba prisoner release. A multifaceted individual, and master of the art
of negotiation.
Beyond professional achievements, owns the most complete historical collection of Hot Wheels globally,
a testament to an unwavering passion for collecting. As a dedicated judge for Mattel’s Legend’s tour and
owner of the world’s only Hot Wheels Museum, brings a unique perspective that aligns with Mattel’s
ethos and strategic direction.
SKILLS
Real Estate | Community Impact | Strategic Vision | Unique Perspectives
Voice for Collectors | Critical Thinking | Analytical | Strategic Problem Solving | Leadership |
Entrepreneurship | International Diplomacy| Community Impact | Mentoring | Dynamic Marketing |
Global Collector Network | Strategic Planning & Execution | Strong Communication | Negotiation |
Business Transformation
Detailed Real Estate Career
CAREER HIGHLIGHTS
Executive Managing Director (2017 to Present) | Cushman Wakefield
A leading global real estate service firm with 50K employees in over 400 offices and 60 countries.
- Ranked among the top 10 agents in Washington D.C. for 2 of the past 7 years, out of a pool of 750
agents, demonstrating exceptional performance in a highly competitive market. - Recognized as one of the most awarded agents in DC history, reflecting the outstanding contributions
to the real estate industry over the past 35 years. - Represented 168 out of DC’s 765 office buildings over 35-year career, a testament to the unmatched
success rate in the region.
Senior Vice President of Leasing (2014 to 2017) | Vornado Realty Trust
A preeminent owner, manager, and developer of office and retail assets.
- Transformed Crystal City, VA, a region with a 21% office vacancy rate into a remarkable under 11%
vacancy rate. - Paved the way for the sale of the entire portfolio through JBG Real Estate, ultimately attracting
Amazon as a major tenant. - Revitalized the entire city’s image, turning it from a drab locale to a vibrant hub with modern office
spaces and new attractions.
Executive Vice President (1989 to 2014) | CBRE Group, Inc.
The largest commercial real estate firm in the world.
- Established as one of the top agents in Washington, D.C., known for exceptional drive and
entrepreneurial spirit, focusing on leasing some of the city’s toughest buildings, often older or with
unique challenges. - Introduced the “grab and go” cutting-edge marketing concept in the 1990s, enabling brokers to attend
an event to view available spaces while enjoying a free lunch and a generous gift.
CHARITABLE AFFILIATIONS
- B’nai B’rith International, Past International Senior Vice President
- Rachael’s Women’s Center, Inc., Past Chairman
- New Leadership State of Israel Bonds, Past Chairman
EDUCATION
Bachelor of Business Administration (BBA) Degree, Finance, George Washington University
AWARDS & HONORS
- Five-Time Top Ten Leasing Agent Award, CREBA
Show Notes
High Level Overview
- Introduction (5:45)
- Bruce Pascal is welcomed to the podcast, discussing his dual passions.
- Balancing Work and Passion (00:06:00)
- Bruce shares how he prioritizes work while integrating his hobby of Hot Wheels collecting.
- Trends in the DC Office Market (00:06:45)
- Bruce discusses challenges in the DC office market and the importance of innovation.
- Innovative Marketing Strategies (00:09:00)
- Bruce emphasizes the need for innovative marketing to stand out in real estate.
- Challenges of Door-to-Door Canvassing (00:09:42)
- Bruce explains the difficulties of traditional canvassing in today’s market.
Origins and First Business
- Defining Moments in Upbringing (00:11:15)
- Bruce reflects on his childhood and defining moments that shaped his ambition.
- Early Work Experiences (00:12:15)
- Bruce describes his early jobs and entrepreneurial spirit during high school.
- Transition to Process Serving (00:13:00)
- Bruce shares how he started a successful process serving business in college.
- Skills from Process Serving to Real Estate (00:14:45)
- He discusses how his process serving experience translated into real estate skills.
Real Estate Career Begins
- Joining a Real Estate Firm (00:16:40)
- Bruce recounts how he got his start in real estate after college.
- Lunch with Bob Cohen (00:17:00)
- Bruce shares a memorable lunch with Bob Cohen, learning about real estate success.
Passion for Hot Wheels
- Passion for Hot Wheels (00:18:15)
- Bruce reveals his childhood love for cars and how it led to collecting Hot Wheels.
- Beginning of Hot Wheels Collection (00:19:20)
- Bruce discusses rediscovering his childhood Hot Wheels and starting to collect seriously.
- Building a Database of Hot Wheels Contacts (00:21:15)
- He explains how he networked with former Mattel employees to grow his collection.
- The Henry Ford Museum of Hot Wheels (00:22:30)
- Bruce likens his collection to a museum dedicated to Hot Wheels history.
- Acquiring the Rare Pink Beach Bomb (00:23:40)
- Bruce narrates the story behind acquiring the legendary pink rear-loading beach bomb.
Sales Talent and Brokerage
- Foreshadowing Sales Talent (00:25:05)
- Bruce reflects on early signs of his sales and negotiation skills.
- Practice Interviews and Sales Skills (00:25:20)
- Bruce discusses conducting practice interviews and the importance of innate sales skills over trainable skills.
- Early Sales Experiences (00:25:45)
- He shares personal anecdotes about early sales experiences, including selling lemonade and Girl Scout cookies.
- Introduction to Real Estate (00:27:15)
- Bruce recounts how he ventured into real estate after selling his process serving company and renting to artists.
- First Real Estate Deal (00:30:25)
- He describes his first significant deal involving a fire-damaged Burger King and the lessons learned from it.
- Market Dynamics and Learning (00:33:15)
- Bruce explains how the landlord side of brokerage helps develop essential skills and understand market dynamics.
Current Market
- Current State of DC Office Market (00:35:30)
- He describes the bifurcated state of the office market in DC, highlighting vacancy rates and building types.
- Changes in Tenant Behavior (00:38:30)
- Bruce discusses how tenant behavior has changed post-pandemic and the challenges landlords face.
- Challenges for Landlords (00:42:20)
- He outlines the financial health challenges landlords face and potential strategies for dealing with current market conditions.
- Opportunities for Long-Term Investors (00:43:50)
- Bruce suggests that current market conditions may present opportunities for long-term investors willing to be patient.
- Best Buy of Any Transaction (00:45:15)
- Bruce discusses a significant lease deal involving the Wizards and its positive impact on surrounding retail.
- Current Market Dynamics (00:46:15)
- The conversation shifts to historical context regarding office buildings and the current market landscape.
- CMBS Loan Challenges (00:46:30)
- Bruce explains complications with CMBS loans and how defaults can lead to better negotiation opportunities.
- Current Administration’s Impact (00:48:30)
- Discussion on how upcoming administration policies may influence federal leasing and office vacancy rates.
- Potential for Urban Redevelopment (00:50:20)
- Exploration of opportunities for redeveloping urban areas in D.C. to enhance commercial real estate.
- Historic Urban Redevelopment (00:51:00)
- Bruce reflects on his father’s experiences in early urban redevelopment in Southwest D.C.
- Federal Government Property Sales (00:51:50)
- The potential for federal properties to be sold as surplus, impacting urban landscapes.
- Effects of Policy Changes (00:52:10)
- Bruce predicts long-term changes to D.C.’s real estate market resulting from policy shifts.
Hot Wheels Perspective
- Balancing Real Estate and Hot Wheels (00:52:20)
- Bruce shares how his passion for collecting Hot Wheels complements his real estate career.
- Hot Wheels Market Overview (00:54:25)
- Discussion on the enduring popularity and sales performance of Hot Wheels since 1968.
- Generosity of Hot Wheels (00:55:35)
- Bruce describes his practice of giving Hot Wheels to children, fostering excitement for cars.
- Collecting Beyond Hot Wheels (00:56:20)
- Exploration of other collectibles and how they compare to Hot Wheels in the market.
- Collector Mindset in Real Estate (00:57:20)
- Bruce discusses how his collector mindset aids in identifying real estate opportunities.
- Unique LinkedIn Branding (00:57:50)
- Bruce highlights how combining his profession with his hobby sets him apart in real estate.
Career Pivot- Vornado Realty Trust
- Pivotal Career Transactions (00:59:30)
- Bruce reflects on his career, particularly his work with Vornado Realty Trust in Crystal City.
- Design Lab Concept (01:01:30)
- Bruce shares his innovative idea for redesigning office spaces in Crystal City to attract tenants.
- Iconic Ferris Wheel Proposal (01:04:40)
- Bruce recounts his ambitious plan for a Ferris wheel in Crystal City that ultimately did not materialize.
- The Arena Discussion (01:07:10)
- Bruce shares his thoughts on the potential development of an arena in D.C. and its implications.
- JBG Smith and Amazon (01:07:15)
- Discussion on JBG Smith’s developments and Amazon’s impact on Crystal City’s future skyline.
- Retail Development in Crystal City (01:07:50)
- The conversation shifts to retail developments and the contributions of Henry Fonvielle and Bob Smith.
- Accessibility to the Airport (01:08:35)
- Bruce emphasizes the unique walkability of properties near the airport in Virginia.
- Pedestrian Walkway Development (01:09:00)
- Updates on pedestrian walkways being facilitated by Arlington County for better accessibility.
Adaptability and Innovation
- Staying Adaptable in Real Estate (01:09:20)
- Bruce discusses the importance of innovation and adaptability in the evolving real estate market.
- Introduction of Grab and Go (01:10:00)
- Bruce recounts his innovation of the “grab and go” concept in the early 90s.
- Innovative Luncheons for Brokers (01:10:45)
- Bruce explains how he transformed broker luncheons to create a more engaging experience.
- Importance of Personal Relationships (01:12:20)
- Bruce stresses the significance of personal relationships in securing real estate opportunities.
- Technological Shifts in Brokerage (01:10:01)
- Bruce reflects on the early technological changes in the real estate brokerage industry.
- Challenges with Technology (01:13:30)
- Bruce shares his struggles with technology and relies on his team for support.
- AI in Real Estate (01:15:50)
- The hosts discuss the potential of AI tools like ChatGPT in enhancing client relations.
- Using AI for Personalization (01:16:30)
- Bruce shares how he uses AI to refine his communication while maintaining his voice.
- Volunteer Work and AI (01:17:00)
- Bruce discusses utilizing AI for quick research in his volunteer work with human rights.
Negotiations and Philanthropy
- Negotiation Skills in Brokerage (01:18:20)
- Bruce highlights the importance of negotiation skills and understanding both sides in deals.
- Unique Negotiation Experience (01:19:50)
- Bruce recounts his involvement in negotiating the release of a prisoner from Cuba.
- Philanthropy and Professional Identity (01:22:20)
- Bruce discusses how giving back has shaped his identity and approach in real estate.
- Joining Nonprofit Boards (01:23:00)
- Bruce encourages new agents to join nonprofit boards for experience and networking.
- Transformative Philanthropic Experience (01:24:20)
- Bruce shares a story about helping a homeless shelter secure a new building.
- Building Relationships Through Philanthropy (01:26:50)
- Bruce emphasizes the mutual benefits of philanthropy and professional relationships.
- International Diplomacy Experience (01:27:00)
- Bruce shares his experiences in international diplomacy, including meetings with UN ambassadors.
- Involvement in B’nai B’rith (01:28:10)
- Discussion on Bruce’s early involvement with B’nai B’rith and its impact on his life.
- First Diplomatic Meeting (01:29:00)
- Bruce recounts his first diplomatic meeting and how it sparked his interest in international relations.
- Meeting with World Leaders (01:29:50)
- Bruce shares his experiences meeting various world leaders, including popes and former Egyptian president Mubarak.
Personal Challenges and Advice
- Biggest Professional Challenge (01:31:10)
- Bruce discusses overcoming challenges in commercial real estate, particularly the lack of technology.
- Balancing Work and Passions (01:32:10)
- Bruce emphasizes prioritizing professional responsibilities while managing personal passions.
- Advice to Younger Self (01:33:15)
- Bruce shares valuable financial advice for young brokers, emphasizing living within means.
- Life Priorities (01:35:00)
- Bruce discusses balancing family, work, and charitable contributions in his life.
- Future Plans in Real Estate (01:36:15)
- Bruce talks about transitioning his business to partners as he plans for retirement.
- Billboard Message for the Public (01:37:00)
- Bruce reflects on gratitude and the impact of his career, envisioning a thank-you message on a billboard.
