In the heart of Old Bisbee, The Carrick Bisbee Suites Hotel has emerged as a symbol of resilience. Owned by Carrick Sears, a seasoned commercial real estate advisor at SVN | Desert Commercial Advisors, this project serves as a unique learning experience that has not only added value to Carrick’s clients but has also elevated his career at SVN.
Influenced by a diverse entrepreneurial background, Sears’s journey began with six businesses by the time he entered college. From selling produce to transforming a backyard playhouse into a restaurant, his myriad experiences laid the groundwork for success in commercial real estate brokerage, Airbnb rentals, and property ownership. His role at SVN positioned him to identify unique properties and add value through visionary concepts – a framework seamlessly applied to his real estate ventures.
Sears’s vision of hotel ownership led him to the historic Gym Club Suites property in Bisbee, a site dating back to 1903. His mission was clear – preserve the property’s character while introducing modern conveniences. This transformative project significantly deepened Sears’s understanding of adding value for clients in commercial real estate. Navigating the intricacies of permits, collaborating with planning and zoning boards, and grasping the necessary capital expenditures for a project are insights that directly benefit his clients pursuing similar endeavors.
“Over the past year, we have taken this historic Bisbee property restored it to its grandeur, and updated it for the modern traveler. All of the rooms have been upgraded, and we promote local artists with artwork throughout the property. We are so proud to be bringing this historic property back to welcome travelers to Bisbee,” said Sears.
Sears finds joy in crafting design themes and adjusting rates based on supply and demand, showcasing his creative approach and market acumen. And what this project illuminated most for Sears was the importance of “Time, Treasure, and Talent” in commercial real estate. Understanding acquisition and remodeling funds, identifying essential talent, and ensuring efficient project execution are insights that amplify his role as a broker, offering clients invaluable perspectives for successful investments.
Adeptly managing dual roles as an investor and broker, Sears says his secret is through strategic time blocking. This approach guarantees dedicated time for brokerage and personal investments, maintaining readiness for emergencies and urgent client matters – imperative for success in both roles. His foremost advice for those looking to invest in commercial real estate is to work with a broker who has hands-on ownership or management experience in the specific asset type of interest. This ensures clients have a trusted advisor with practical insights.
Sears reflects on his journey, stating, “Eighteen months ago, I bought an apartment building being run as a hotel. It has been a great experience remodeling and repositioning a property. I’ve been able to leverage my multifamily skills while greatly expanding my hospitality acumen.”
The Carrick Bisbee Suites Hotel is not just a boutique destination; it’s a testament to Carrick Sears’s commitment to excellence in commercial real estate. The project’s success adds tangible value to his clients and elevates his career at SVN Desert Commercial Advisors, showcasing a harmonious blend of entrepreneurial spirit, dedication, and a deep understanding of the intricate world of real estate investments.