NAPLES, FL-One of the nation’s largest full-service commercial real estate firms has expanded into Florida. Lee & Associates set up shop in Naples earlier this month. This marks the firm’s 45th office in the nation.
As Lee execs see it, the Southwest Florida market is especially attractive due to low corporate taxes, proximity to major markets like Tampa and Miami, transportation infrastructure, numerous educational institutions, and the recent upswing in commercial activity there. Clearly Lee has done its homework.
GlobeSt.com caught up with Edward Indvik, CEO of Lee & Associates, to discuss the firm’s move into Florida, its expansion plans for the state, and the challenges he sees in 2012.
LeClaire: Lee seems to be in high gear regarding office openings, how prominently does the Southeast fit into the firm’s plans?
Indvik: The Southeast is one of the most vibrant economies in the nation. Whether trade, manufacturing, distribution, retail and of course the office-service industry, it is a region of the country that is consistent with the elements shared with the other 40-plus offices we have in the rest of the United States. We share many of the same clients, both owners and users. Therefore the need for a multi-market presence is highly valuable.
LeClaire: Can we expect more offices in Florida in the near future?
Indvik: Yes. In fact, we have already approved our second office and expect to announce the merger in the first quarter of 2012. In addition, we are in advanced discussions on a third Florida location and have identified at least six offices in the state.
LeClaire: In regard to the Naples/Fort Myers office, is there a “recipe” that made this group of brokers click with the Lee Model?
Indvik: Very much. First the agents of this office are of the highest quality. They had created tremendous market presence and share and offer expertise in all the needed areas of office, industrial, retail and investment. This type of agent is indicative of the entire Lee organization.
LeClaire: How important is a Lee Southeast presence, say, to California, Arizona or Boise offices?
Indvik: The Southeast is incredibly important for our overall growth strategy. The Southeast offers a quality of life, a welcoming business environment and incredibly valuable educational and cultural characteristics. This has attracted all segments of people and business that want to participate in a lifestyle with such abundance. There is unlimited potential for Lee to leverage this presence for the benefit of our clients and therefore our organization. Although we are rapidly gaining our presence with offices in Georgia, South Carolina and now Florida we expect to have presence in every state within the region and then multiple offices within each of these states.
LeClaire: So we’re at the end of 2011, and Lee ends with a new office in Florida, are things looking up from where we were a year ago in brokerage? How is 2012 shaping up to be?
Indvik: Heading into 2012 I think most industry experts believe we will continue to experience stabilization and improvement. Americans are very resilient and determined. This combined with the best economic and legal system in the world not only offers unparalleled opportunities for our citizens and businesses in the U.S. but to the entire world. My own expectation is although there is still much work to do we will continue to see improvement in the economy and therefore in real estate.
LeClaire: What do you see as the biggest challenges in 2012 and how will Lee respond to those challenges?
Indvik: I am not sure the challenges in 2012 are any different than any other year. I continue to urge all of our agents to be committed to understanding and servicing their client’s needs and to continue to improve their own abilities, tools and methods to service such needs.
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