Commercial Real Estate
Ronald Reagan once said, “All great change in America begins at the dinner table.” On Wednesday, September 11th, select NAI Executives, Members of the NAI Women’s Alliance and a number of VIP Clients were invited to an exclusive dinner held at Scarpetta in the historic Fontainebleau.
The NAI Global Women’s Alliance was formed in January to empower, educate, mentor, share and expand the knowledge and experiences of women within NAI. This group’s mission is to build a united group seeking professional and personal advancement within the commercial real estate industry.
“This dinner was a wonderful chance for Members of the Women’s Alliance to share success stories and realize how NAI Global enables them to expand their contacts and deal making possibilities,” said Patricia Faulkner, SVP, Client Development at NAI Global and Leader of the NAI Global Women’s Alliance.
The gathering of good company allowed a lively exchange of ideas for maximizing business opportunities. Several attendees from NAI Member firms who focus on corporate services invited their clients, including Ansari Real Estate Ventures, BH Properties and Flagler Development. They were joined by NAI Global leadership as well as several Summit sponsors, including Sherwin Williams, Trepp, Real Capital Analytics, and A10 Capital. Other notable guests included senior staff with The Beacon Council, Miami-Dade County’s official economic development partnership, and the Canadian Consulate General based in Miami.
Also in attendance was Maribel Koella, NAI Knoxville’s principal broker, and a Member of the NAI Women’s Alliance Leadership Committee. Maribel was recently named one of Real Estate Forum’s “Women of Influence” and was featured in the magazine’s cover story in the July/August 2013 issue. Congratulations to Maribel on this distinguished honor.
NAI Leaders came together to network, share best practices and learn about the future growth of the company during the 2013 Annual Leadership Summit in Miami last week. Noted futurist and commercial real estate advisor Christopher Lee, PhD, President of CEL & Associates led two separate discussions focused on the future and succession planning.
In his presentation, “The Future is Arriving Sooner Than You Think,” Lee evaluated the state of the global economy in the past, present and future and how the real estate industry’s “megashifts” fit into this context. He noted that goals of yesterday and today are market driven and capital driven, respectively, but tomorrow’s goal is to be knowledge driven, citing that over time, performance has shifted from geo-centric to knowledge-centric. He also presented an analysis of real estate cycles and phases, and a sector-by-sector market outlook.
His second presentation, “Succession Planning Cannot Be Avoided” included some eye-opening statistics. According to Lee, 82% of large firms (over 1,000 employees) have a formal succession plan. Only 15% of small to mid-sized firms have a formal succession plan. 85% of succession plans are only for the CEO. Of those firms that have formal succession plans, 65% have not communicated that plan to the firm. “These facts are alarming, considering nearly 60% of today’s real estate CEOs plan to retire or phase out by 2020 – but less than half – 44% of today’s CEOs are ’satisfied’ with their entire senior management team,” said Lee.
The Members’ Leadership Board was joined by executives from NAI Global as the group met in New York City at the historic New York Athletic Club for a series business meetings and a client development event. With representatives from various regions and a diverse array of market sizes the meeting exchanged perspectives and new ideas as well as created an opportunity for the group of 40 leaders to align under a new shared vision for the future. Michael Flynn, 2013 Chair of the Leadership Board says, “The willingness of our leaders from around the world to come together for the better part of a week is continued evidence of their commitment to the NAI platform and message. We have a strong base from which NAI can continue its growth and expand its capabilities.” Jay Olshonsky, President of NAI Global says, “By blending the perspectives and talent of our Members’ Leadership Board, the executives at NAI Global and that the institutional might of our parent, NAI is poised to accelerate the pace as the premier managed network of independently owned global commercial real estate firms.”
While in New York City the group facilitated a client appreciation and development event at Yankee Stadium where 15 representatives from various institutions gathered along with their hosting Leadership Board Member. The night brought about a deeper bond among those that participated along with opportunity for future business.
FORT WAYNE, IN—The locally based NAI Harding Dahm office here is merging with South Bend, Ind.-based Bradley Co., a real estate firm that operates throughout northern Indiana and western Michigan. The combined firms will employ nearly 250 professionals who will manage more than seven million sq. ft. of commercial property, more than 2,300 units within residential apartment communities and homeowner’s and condominium associations; and act as brokerage agents for nearly 700 commercial properties.
“Our intention when consolidating our business units was to quickly take advantage of the expanded growth opportunities that exist to enable us to grow as our clients grow,” said Brad Toothaker, CEO of Bradley, in statement. “We are excited to bring together these two successful companies and continue our goal to build a dominate real estate brand throughout Indiana, western Michigan and beyond.”
Toothaker will remain as president and CEO of the firm. Dan Dickey remains president of the NAI Harding office.
Top realtors from nine countries attended the NAI Global Regional Conference hosted by NAI Bahamas Realty Commercial, the commercial division of Bahamas Realty Limited, in Nassau, Bahamas this past May. The conference called these realtors together to help increase NAI’s international exposure.
According to a post by Bahamas Realty, “Mr. Larry Roberts, SIOR, said he expects the conference to ‘solidify the contacts in the NAI Global network particularly as it relates to the Caribbean and Latin American countries, and to strengthen contacts.’ Mr. Roberts said he was ‘honored, to host this regional conference particularly as we are relatively new members of this extraordinary group. NAI Global is one of the world’s leading providers of commercial real estate services.’”
To learn more about the conference, please visit the Bahamas Realty Now Home Show on YouTube that features a segment of the recent Bahamas Conference.