Today I’m joined by Owen Curry of Cushman & Wakefield—and y’all, this is the real estate episode I’ve been waiting to record. If you’re an owner-operator with a big vision (restaurant, café, wellness studio, boutique concept) and you’re trying to land the right space—especially in a coastal market—this conversation will save you so much time, money, and stress.

Owen breaks down what’s actually happening in North County coastal commercial real estate (Carlsbad through Del Mar), why “vacancy” isn’t always what it looks like, and what you need to understand before you fall in love with a space. We talk budgets, lease runway, rentable vs. usable square footage, how zoning + parking requirements can make or break a concept (especially wellness), and what makes a Letter of Intent attractive without getting you pushed to the back of the line. If you’ve ever felt overwhelmed by LoopNet listings, landlord language, or the sheer sticker shock of beach-town pricing—this one is for you.

What You’ll Learn in This Episode

1. Why coastal communities like Encinitas, Leucadia, Cardiff, Solana Beach stay high-demand (and high price per square foot)
2. How “vacant” buildings can be misleading (and why signs can be strategic)
3. The first questions to answer before you tour spaces: budget, runway, and true market rent
4. Why under-market rent can be risky if you don’t have a long-term lease horizon
5. How smaller footprints can be a strategic advantage (overhead + TI math)
6. The zoning + parking issues that quietly derail wellness concepts (and why cities can treat your use differently if you add things like saunas/cold plunge)
7. What to look for to “win” a space: configuration, speed to occupancy, and financial readiness
8. Lease terms operators overlook: rentable vs. usable + load factors (often 10–20%)
9. TI realities: cold shell vs. existing buildout, and when landlords offer free rent in lieu of TI
10. LOI strategy: how to negotiate without burning goodwill (and how it changes when there’s competition)
11. Why you should get a contractor walk-through before submitting an LOI
12. Green flags + red flags on tours (local landlord access, building systems, pride of ownership)
13. A surprisingly helpful tip for LoopNet: who to call first (hint: the associate)

Key Takeaways for Conscious Owner-Operators

1. Location is a design decision—but it’s also a systems decision. Don’t pay “foot traffic rent” if your model is membership-based or appointment-driven.
2. Do not skip zoning + parking due diligence. Especially if your concept blends categories (retail + events + wellness).
3. Fall in love after the numbers work. The shiny object space can come with hidden timeline and permitting costs.