For Cathy Teeter, managing director at CBRE, finding her way into commercial real estate began with a chance encounter while waiting for a job interview.
“As I was sitting in the lobby, a broker from Del Webb Corporation sat down next to me,” Teeter recalls. “When I told him I was there for an interview at a law firm, he said, ‘Working in commercial real estate is way more fun. Lawyers are boring.’ Then he took me up to interview at Del Webb Corporation, and I walked out with a job.”
Now firmly established as a prominent leader in the state’s commercial real estate industry, Teeter is still having fun. AZRE spoke with Teeter to learn more about how she experiences Arizona much like a tourist would.
Segments of this conversation were taken from Teeter’s appearance on the AZ Big Podcast with Michael and Amy. Responses have been edited for clarity and length.
AZRE: What gave you the idea of seeing Arizona through the eyes of a tourist?
Cathy Teeter: It started as a spur of the moment thing. On our first anniversary, my husband and I had been swamped at work and didn’t make any plans, so we decided to just jump in the car and drive to Patagonia. We’re big hikers, so we went exploring, and that started the tradition. Now we try to play tourist a couple of times each year.
AZRE: Are most of the trips focused on exploring the outdoors?
Cathy Teeter: We always include something physical. During the pandemic, we’d take our bikes somewhere in the state nearly every weekend. We also enjoy wine, so last year we paddled down the Verde River and visited some wineries in Cottonwood afterwards, which was so fun.
AZRE: What are some hikes you’ve gone on and enjoyed?
Cathy Teeter: We’ve done the rim-to-rim hike in the Grand Canyon and stayed at the Cottonwood Campground, which was a great experience. Madera Canyon is breathtaking — though it rained on us a few summers ago while we were there, and I was freezing cold. Ramsey Canyon is another amazing hike — I didn’t know this, but it’s one of the top birdwatching spots in the U.S.
AZRE: Do you always leave the Valley to go on these excursions?
Cathy Teeter: Actually, the last place we stayed was at the Cozy Peach at Schnepf Farms. They have these really cool vintage Airstreams with a bathroom, a kitchenette and space to build a fire out front. After that, we went to the Queen Creek Olive Mill, then explored Mesa’s Asian district. The food is incredible there.
Beyond that, every Sunday we ride our bikes down the canal to Tempe Town Lake for a picnic, or we’ll get breakfast at the Desert Botanical Gardens. We’ve also visited the Grand Avenue arts district and the Roosevelt Row area — there are so many local touristy things you can do.
LISTEN NOW: AZ Big Podcast: Cathy Teeter of CBRE talks leadership skills in CRE
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AZRE: I have to ask you a tough question before we wrap up. How do you expect the state’s commercial real estate industry to fare over the next few years?
Cathy Teeter: You certainly saved the hard one for last. Arizona should do well, especially in relation to the rest of the country. We continue to see growth, especially with industrial, but of course everyone is watching the tariffs. Some deals are on pause because people don’t know what will end up happening.
Overall, I think 2025 will be a lot like last year, which was strong. The fourth quarter of 2024 was CBRE’s strongest in the company’s history. That was shocking to me — we all hear about the scary stuff happening even though things are going well in our industry. But the economy in Arizona, and especially Greater Phoenix, should remain strong.
