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A few things from the field this week. Some interesting stories, a few observations about our local real estate market, and a personal idea I’ve been working on.
Data Centers Come to Town
AI feels weightless. The buildings behind it are anything but.
For my latest KXFM Field Notes episode, I traveled to Las Vegas for Yotta, a national data center conference, and walked a convention floor filled with generators, cooling systems, sophisticated technology, and people racing to build the infrastructure behind artificial intelligence.
But the more interesting story may be what’s happening outside those convention halls.
The episode takes us to Spotsylvania County, Virginia, where planning commissioner Scott Phelps is confronting the real-world consequences of this extraordinary wave of development. Data centers bring investment, tax revenue, and economic opportunity. They also raise important questions about electricity, water, land use, and the character of communities.
Scott’s perspective isn’t necessarily for or against development. It’s about asking better questions, understanding the tradeoffs, and planning carefully before the concrete is poured.
Whether you’re interested in technology, real estate, local government, or simply how our communities are changing, I think you’ll find the conversation worthwhile.
Listen to Data Centers Come to Town
Also available on your favorite podcast app. Search for United Voice with Ken Robertson and select the episode “Data Centers Come to Town.”
The Coastal Real Estate Market: Two Very Different Stories
I’ve spent much of my career watching real estate markets move through cycles, and one of the more interesting things about this one is how differently various segments are behaving.
On the commercial side, transaction activity remains subdued. Higher financing costs, changing property economics, and the gap between what sellers hope to receive and what buyers are willing to pay continue to slow things down.
We’re also seeing more situations involving financial pressure, lender involvement, and owners reconsidering whether holding a property still makes sense. Even in desirable coastal markets like Laguna Beach, location alone doesn’t insulate a property from economic realities.
At the very top of the residential market, however, the picture looks quite different.
Two recent transactions illustrate just how nuanced this market has become.
The $110 million sale at 20 Emerald Bay, an Orange County record, was completed off-market, without the property ever being publicly offered for sale. Meanwhile, 100 Rockledge, also within Laguna Beach’s city limits, was broadly marketed at an original asking price of $112 million before ultimately selling for $82.57 million, approximately 26% below that initial price.
Both are extraordinary properties, but their paths to a sale couldn’t have been more different.
Scarcity sets the ceiling. Condition, motivation, and the circumstances of a sale help determine the final price.
It’s a reminder that even at the highest end of the market, there isn’t a single formula for value. Sometimes the right buyer emerges privately. Other times, broad exposure to the market reveals what buyers are actually willing to pay.
An Open Seat at the Table
And finally, something a little more personal.
After more than 30 years in commercial real estate, including years leading large investment portfolios, developing businesses, and advising owners, I’ve been thinking about where that experience might be most useful in the next chapter of my career.
I’m continuing my real estate advisory and brokerage work while exploring opportunities to bring that experience into a more ongoing leadership relationship.
So I tried something unconventional.
I wrote a job description for a position that doesn’t exist yet.
The idea is a part-time senior executive or strategic partner who works alongside an owner or leadership team a few days a week, helping think through business strategy, capital, real estate, relationships, and how the organization communicates its story.
It might be a family-owned business, a family office, a growing company, or an organization navigating a transition.
I’ve come to believe that some of the most valuable working relationships don’t necessarily fit neatly into a conventional job posting.
If you’re curious, or know someone who might benefit from this kind of partnership, I’d welcome the conversation.
Thanks, as always, for reading, listening, and staying connected. One of the pleasures of this stage of my career is having the opportunity to explore interesting ideas and share some of what I’m learning along the way.