Sam Lipshut recently joined the Opteon team in Australia as the Head of Department, Middle Markets. The commercial middle markets, which span industrial, retail and office assets in the $7.5-$50m category, is a space Sam understands well.
For many years, he has specialised in valuing existing commercial assets and new commercial developments, including stand-alone office buildings, subdivided office suites and units, commercial development sites and inner city offices and warehouses. He is particularly known for his expertise in Melbourne’s suburban office market, which includes valuations, rental assessments and pre-purchase and pre-sale consultancy advice.
In his new role, Sam is leading Opteon’s Middle Markets team nationally, based in Melbourne. “Joining Opteon was an easy decision for me because I already understood Opteon’s market-leading reputation and how its investment in people and technology was contributing to its success. I’m excited to have the opportunity to lead a talented team that’s on a strong growth trajectory, while also continuing to do valuation work myself. I’ve been valuing properties for more than 20 years and I still find it varied, fast-paced and rewarding work.”
Despite some challenging conditions in some middle market segments last year, Sam’s confident market sentiment will start to turn in the short-to-medium term.
“Without question, 2023 was pretty trying for middle markets – particularly the office market sector. The suburban office asset class hasn’t found its feet since the pandemic because space requirements are changing and interest rates have remained high. Secondary assets, in particular, have been hard hit,” Sam said.
He added: “We also saw patchy demand for retail assets in the suburban strips, which was in part driven by high interest rates, higher inflation, the rise of e-commerce, and quick service retail. Large format retail that was buffered by long-term leases held up well, which added pressure to the smaller assets.”
“I expect 2024 will follow recent trends and continue to be a low transaction environment, mostly driven by owner-occupiers. However, we are near the bottom of the cycle, so the next few months will be telling. With inflation easing, rates are likely to steady and there’s the prospect of some rate relief on the horizon,” Sam said. “Well-leased middle market industrial assets, which have been strong performers for the last three years, are likely to remain in demand.”
Sam’s new role is not his only personal milestone this year. He has also become the father of three primary school children, with his youngest starting in Prep. Sam loves watching his children develop and being actively involved in their lives – including as their sport taxi driver! Not so secretly, he’s hoping he might be able to “pinch back” his old mustard-coloured Datsun 120Y that’s just been brought back to life on his cousin’s farm and drive his kids around in that one day.
Sam Lipshut
Head of Department - Middle Markets & Portfolio
0499 479 146
sam.lipshut@opteonsolutions.com
