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TenantBase · Partner Broker Highlight
Matthew Bustamante, Founder & Tenant Rep at Trilogy CRE
Phoenix, AZ · TenantBase Team
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Founder & tenant rep broker. Phoenix market. Office, retail & industrial.
From commercial insurance to commercial real estate
Matthew's path into tenant rep started with a pattern he kept noticing from the other side of the deal.
"I started my own Farmers Insurance agency in 1997. About seven years in, I was doing a lot of commercial insurance for large shopping centers. Property managers kept asking me to write COIs for new tenants and I realized many weren't represented. They were just calling off the sign."
That insight pushed him to get licensed in 2005 and begin serving commercial clients directly. After five years of balancing both careers, he sold his agency in 2010 and went full-time into brokerage — on his own terms from day one.
Why launch Trilogy — and why cover three asset types?
Covering office, retail, and industrial wasn't just a branding decision — it was a deliberate hedge against volatility.
"It's a feast-or-famine world. Each segment has dips. Educating myself to do all three meant any referral that comes in, I'm not giving it away."
Retail remains the firm's bread-and-butter, but recent industrial wins — including a quarter-million square feet in a single year — show how diversification strengthens and stabilizes the pipeline over time.
Learning without a net — and paying it forward
Matthew built his early practice without mentorship or firm infrastructure — figuring out the basics by leaning on friends and grinding through mistakes.
"I didn't have a mentor or firm support. I built my own systems and leaned on friends for basics — 'What's an LOI?'"
Today, he invests the same energy in his associate — guiding them through every challenge from the start. The result: an associate who's already ahead of where Matthew was at year three, with a clear runway to grow.
Generating deal flow: sphere, systems, and grind
As a fourth-generation Phoenix native, Matthew leveraged existing relationships and targeted outreach to build early momentum — and he's candid that there's no shortcut to it.
"There's no cool secret. It's grinding, making good contacts, letting people know what you do."
A recurring network of multi-unit users — chiropractic practices, beauty concepts, and similar recurring tenants — keeps momentum steady between larger transactions. The fees aren't always big, but the consistency compounds.
Phoenix market outlook
Matthew describes Phoenix as an anomaly in the current national landscape — and one that rewards brokers who stay close to what's driving growth.
"Massive growth from data centers and chip manufacturers brings a flood of small-bay industrial demand. Retail is as strong as it's ever been — roughly 97 percent occupied and tough to find quality space. Office is rebounding too. Pricing per square foot on sales is ticking up and some tenants are moving back from WFH into larger footprints."
That across-the-board strength makes market knowledge and landlord relationships more valuable than ever — and reinforces why diversification across asset types has been a competitive advantage for Trilogy CRE.
Setting expectations and earning trust
Matthew's relationships with local landlords and listing brokers give him a notable advantage — his calls get answered. But his approach to clients is just as deliberate, particularly with first-timers.
"I'm brutally honest, but respectful. We talk liquid assets, build-out needs, and business plans. If you're not ready, I give you homework."
One story captures that philosophy. A 20-year-old amateur boxer came to him with a dream but no resources. Rather than turning him away, Matthew gave him a path forward. He came back with savings and a plan — and was placed in 1,100 SF, then 4,000 SF two years later.
"That's how you build long-term wins."
Advice for new tenant-rep brokers
Matthew is direct about the timeline: year three is the turning point. Getting there requires structure, patience, and a realistic view of the trade-offs.
He recommends joining a larger team early to learn on smaller deals before going independent — and for those who go boutique from the start, being clear-eyed about what that means for deal flow. For established brokers looking to grow, the advice is to hire junior help, take a piece of smaller deals, and redirect energy toward larger transactions.
"Be strong-willed and keep grinding."
📱 Featured Clip — Instagram & LinkedIn
Matthew on Client-First Leadership in CRE
His advice comes from a place of real care — he wants clients positioned for success, not just signed deals. That's the kind of leadership that makes a real impact in the CRE community.
▶ Watch on Instagram ▶ Watch on LinkedInWhat it's like working with TenantBase
Matthew came to TenantBase after another lead platform began declining in quality and volume. The difference was immediate.
"TenantBase was night-and-day better — 10x in volume and usability. The interface is easy, your team follows up, and the consistent pipeline lets me keep my agent busy. If I didn't have TenantBase, my associate would be gone."
While he favors personalized outreach over templated first touches, he credits the volume and consistency of the platform for sustaining deal flow — reinforcing his broader philosophy that daily engagement is what wins.
"It's a numbers game. Daily engagement wins."
A continued partnership
Our thanks to Matthew Bustamante at Trilogy CRE for sharing his story and for his continued partnership with TenantBase. Brokers like Matthew — entrepreneurial, honest, and relentlessly consistent — show what effective tenant representation looks like in Phoenix and beyond.
For more perspectives on tenant-focused brokerage, read our Partner Broker Highlight with Mike Hammond.
Frequently Asked Questions
What does a tenant representation broker do?
A tenant representation broker exclusively represents tenants in commercial real estate transactions — helping them find space, evaluate options, negotiate lease terms, and secure favorable outcomes without landlord-side conflicts of interest.
Why use a tenant-rep broker in Phoenix?
A Phoenix tenant-rep broker brings local market knowledge, established landlord and listing broker relationships, and on-the-ground insight across office, retail, and industrial — helping tenants navigate one of the country's fastest-growing and most competitive markets.
Is the Phoenix commercial real estate market strong for tenants right now?
Phoenix is experiencing growth across all three major asset types. Retail vacancy sits near historic lows, industrial demand is surging from data center and manufacturing expansion, and office is showing signs of recovery. Tenants benefit from working with a local broker who can identify availability and negotiate effectively across all three segments.
How does TenantBase support tenant-rep brokers?
TenantBase connects qualified inbound tenant demand with trusted local tenant-rep brokers so brokers can focus on service, advocacy, and deal execution — while tenants get a faster path to the right space.
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© TenantBase. For informational purposes only. This blog does not constitute financial, investment, brokerage, legal, tax, or professional advice. Content is from public/third-party sources via AI. We cannot guarantee accuracy or timeliness. Consult qualified professionals before decisions. We disclaim liability from reliance on this information.
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