A Focused Approach to Retail Real Estate

Benjamin Berkowitz is a Texas-based commercial real estate professional known for his disciplined approach to retail investment sales and long-term value creation. He currently serves as Vice President at Colonial Commercial Real Estate and is Co-Founder and Principal of Pearl Capital.

Berkowitz began his career at Colonial as an associate and quickly focused on understanding the fundamentals of retail deals. Since becoming licensed in Texas in 2021, he has completed more than $60 million in transaction volume. His work centres on single-tenant and multi-tenant retail properties, including freestanding buildings and neighbourhood shopping centres.

His early experience included missed deals and lost listings. Rather than viewing these as setbacks, he used them to refine his process. He shifted his focus from short-term wins to building a strong pipeline and long-term credibility.

At Colonial, Berkowitz expanded into tenant representation, including acting as the exclusive representative for Flytrex. This work gave him a broader understanding of how tenants evaluate sites and structure leases.

In 2025, he co-founded Pearl Capital. The firm focuses on acquiring essential-service retail properties in high-growth secondary markets. Its strategy centres on leasing execution, operational improvements, and repositioning assets over time. Pearl completed its first acquisition in Wichita Falls, Texas.

Berkowitz’s work is defined by discipline, clear goal-setting, and consistent execution across both brokerage and investment.

Benjamin Berkowitz: Building Discipline in Retail Real Estate

Q&A Interview

Q: How did you get started in commercial real estate?

I started my career at Colonial Commercial Real Estate as a sales associate. Early on, I was focused on learning how deals actually work. That meant understanding pricing, tenant structures, and what drives value in retail assets.

Q: What did those early years look like for you?

They were not easy. I lost several deals and listings that I thought I had done everything right on. At the time, that was frustrating. But it forced me to look at what I could control and improve.

Q: What changed after that period?

My mindset shifted. I stopped focusing on immediate results and started building a pipeline. I focused more on consistency and credibility. Over time, that approach led to better outcomes.

Q: How would you describe your work at Colonial today?

I focus on retail investment sales. That includes single-tenant and multi-tenant properties, as well as freestanding buildings. Since 2021, I have completed over $60 million in transactions.

Q: What makes retail real estate unique?

It is very detail-oriented. You need to understand tenants, leases, and local demand. Small differences in tenant mix or location can change the value of a property.

Q: You also work in tenant representation. How did that come about?

That came through working with Flytrex. I serve as their exclusive tenant representative. It gave me a different perspective. Instead of just looking at deals from the ownership side, I started to understand how tenants think about site selection.

Q: How did Pearl Capital come together?

In 2025, I co-founded Pearl Capital to focus on acquisitions. We wanted to take what we learned in brokerage and apply it to ownership. The goal was to build a platform around essential-service retail.

Q: What is the strategy behind Pearl Capital?

We focus on neighbourhood and community shopping centres in secondary markets. We look closely at micro-market fundamentals. That includes population trends, tenant demand, and local economics.

Q: Can you share an example of how that strategy works in practice?

Our first acquisition was a 43,000-square-foot shopping centre in Wichita Falls, Texas. It fit our model. It had strong fundamentals, and we saw opportunities to improve leasing and operations over time.

Q: How do you define success in your work?

I define success as setting clear goals and executing on them. It is not just about closing a deal. It is about following through on a plan.

Q: What qualities matter most in this industry?

Discipline, credibility, and long-term thinking. Those are the things that compound over time.

Q: How do you approach long-term growth?

I set long-term goals first so I know where I am heading. Then I break those down into short-term steps. That keeps me focused and consistent.

Q: What continues to drive you in your career today?

Execution. Staying consistent. And continuing to build both the brokerage side and Pearl Capital in a way that creates long-term value.