No Cap by CRE Daily · 11/8/2026 · 64 min

First Washington Realty CEO on Building a $9B Retail Empire

Transcript (7 segments)

Alex Nyhan

We've roughly three X the size of the company in the last 12 or so years, and much more importantly than the fact that we three X it, we've increased the quality of the portfolio.

0:26

Alex Nyhan

Knowing how to structure a deal and negotiate 100, 200, 300 million project is a pretty sweet high-end skill in our business. Not everybody has it.

0:49

Alex Nyhan

If you ranked our portfolio on percentage grocery anchored compared to the reads, we'd be the number one.

0:54

Alex Nyhan

we very much believe in grocery stores for sure.

0:57

Alex Gornick

The market has delivered a verdict and the verdict is that open air retail occupancy was already much higher than enclosed malls occupancy and today that gap is wide.

0:35

Alex Gornick

In the last four years or so, I've come back to using exactly the things that I learned when I first started managing people in Latin America.

1:51

Jack Stone

Today, we're joined by Alex Nian, CEO of First Washington Realty, one of the largest owners and operators of grocery anchored and neighborhood retail in the country with nearly 150 shopping centers across 22 states.