Rusty & Crumbling Infrastructure
If you visit New York City take the time to tour 2nd Avenue between 68th Street and 74th Street. You will see your tax dollars at work building a shiny new subway line that will (supposedly) relieve congestion on the East Side. Problem is that it’s like London in 1940, a war zone with kegs of dynamite blasting away. It’s a folly that has already cost billions. The bad news is that I’ve learned that there is not adequate funding in place to complete the project. Infrastructure in the US is a mess. New projects such as the 2nd Avenue subway are ill conceived by a bunch of bureaucrats, and the water, sewer, electric and other essential services—along with bridges, tunnels, roadways—and every other critical system, is rusting or crumbling away. Real estate is a close cousin to infrastructure and I suggest that the leadership of our industry turn their attention to the situation and aggressively lobby for federal, state and local governments to address this situation. Frankly, the most efficient step would be to privatize many of these systems, like many cities and municipalities are privatizing parking. Private enterprise is the only solution.

Tony LoPinto is a senior client partner and head of Korn//Ferry International’s Real Estate Practice and founder of SelectLeaders. The views expressed in this article are the author’s own.

Job Opportunities LOCATE A JOB

HOLLIDAY FENOGLIO FOWLER, L.P.
Producer Investment Sales
(ORANGE COUNTY, CA) The producer will be responsible for originating, directing the marketing, negotiating and closing commercial real estate loans, and/or equity joint ventures for office, industrial and retail commercial properties; and working closely with the local markets, borrowers and lending customers of commercial real estate, and develop significant long term relationships with the borrowers and service providers to promote those markets; among other duties.

COLLIERS INTERNATIONAL
Senior Property Manager
(TORRANCE, CA) The manager will provide tenant relations and customer service; monitor and maintain the appearance of vacant spaces and marketing material; budget preparation/draft annual budget for review and approval by senior management and ownership; and prepare quarterly reports for ownership and other reports for review and approval by senior management; among other duties.

JONES LANG LASALLE
Marketing Manager
(RICHMOND, VA) The manager will design, implement and track targeted marketing plans with objectives, tactics, budgets and timelines; and act as project manager on a large variety of marketing activities including brochure development, direct mail campaigns, advertising campaigns, sponsorships and client events--collaborating with the DC-based graphics team or outside vendors as needed; among other duties.

KTR CAPITAL PARTNERS LLC
Investment Analyst
(CONSHOHOCKEN, PA) The analyst will play a critical and visible role in the identification and acquisition of value-add industrial investment opportunities within North America; prepare comprehensive financial analysis for prospective acquisition and development investment opportunities using Argus and proprietary Excel models; and implement and coordinate the due diligence process including financial underwriting, physical and environmental investigations, survey, title and legal due diligence; among other duties.

CHARLES SCHWAB
President – Corporate Real Estate
(SAN FRANCISCO) The president will be directly responsible for developing the real estate program in support of the business strategy and will be held accountable to drive execution of that program to a successful outcome; build a multi-year and scalable real estate program from the ground up and incorporate all elements required for the initiative; and influence both internal and external constituents and must have excellent negotiation and communication skills; among other duties.

SELECTLEADERS
Vice President of Asset Management – Retail
(NEW YORK CITY) The VP will develop the annual asset management goals for each asset, including property operating budget projections for income, expenses, capital needs and financing costs; prepare analysis and recommendation, as warranted, related to any material change to the annual asset plan, included, but not limited to, capital expenditures, leasing, financing, sales or other economic or market issues; and recommend hold/sell strategies; among other duties.

CB RICHARD ELLIS
Managing Director
(WASHINGTON, DC) The managing director manages all aspects of a regional line of business and/or portfolio of commercial, industrial or retail properties, clients, tenants, staff and services to generate and maintain maximum profitability. Emphasis is on integration of a variety of service lines for new business development and growing market share. Guides senior real estate managers, sales professionals and the office services administrator in client relations, service orientation and consulting role as well as the effective, efficient and ethical operation of their office or accounts. Builds a cohesive, diverse team dedicated to ongoing improvement of business operations; among other duties.

REIT MANAGEMENT & RESEARCH LLC
Property Management
(SACRAMENTO) The management will supervise, train, coach and motivate staff to be engaged, productive members of the property management team; maintain and develop written standard operating procedures for building operations; ensure that mechanical/electrical system maintenance is being performed; and coordinate all construction work and its impact on the property; among other duties.

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