Foundry United Issue 12

T H E M AG I C I S IN THE PEOPLE, A N D W E H AV E SOME OF THE BEST HUMAN BEINGS ON THE PLANET AT F O U N D RY. Nick McKinney Chief Strategy Officer

BRINGING UP

THE NEXT GENERATION

A LEGEND RETIRES EXPLORING THE

AI LANDSCAPE FALL 2023

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C AS E Y M U L H E R N , J O E H A R B AC E V I C H , O L I V I A G R I F F I N , AS H T I N H M I E L E W S K I I N T H E C H A R LOT T E S I X - O N - S I X V O L L E Y B A L L C L AS S I C FA L L 2 0 2 3

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A MESSAGE FROM PAUL ELLIS Building a generational company, investing in the next talent wave in commercial real estate, launching new platforms, and honoring partners moving into the next chapter of their story.

Change is constant, and we have to continue to lead and serve our customers in an industry that is changing. On one hand, very exciting, on the other hand, very daunting. However, the stories herein are about people and the culture is our people. In these stories we see growth, we see success, we see innovation, and we see change.

In these celebrations, I hope we see who Foundry is, a company driven by relationships and building something different.

FOUNDRY IS DRIVEN BY RELATIONSHIPS.

S U SA N M CG U I R E

CONTENTS SUSAN LE AVES A LEG ACY FOR FUTUR E LE ADERS .

CHARLES JONAS E X E C U T I V E M A N AG I N G D I R E C TO R

24 THE SUSAN EFFECT After decades of dedicated service and countless successful deals, legend Susan McGuire has decided to retire, leaving a remarkable legacy as a staple in the commercial real estate industry.

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32 J E N N Y, W E ’ V E G O T YOUR NUMBER In April, Foundry acquired hellojenny, an industry-leading digital marketing firm focused on helping landlords drive revenue for tenants both digitally and to brick and mortar. As social media carves out its utility in the CRE segment, it’s an exciting time to be positioned at the forefront of these trends.

INTERNAL MAGAZINE

S O C I A L M E D I A C O N T E N T BY H E L LOJ E N N Y

18 N E X T G E N E R AT I O N As a forward-looking company, our focus extends beyond the present and encompasses the next generation of commercial real estate. We firmly believe in the vast opportunities and benefits that lie ahead, motivating us to invest our time and resources into shaping the future of this dynamic industry.

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[ISSUE 12]

FOUN DRY WAS WI L L I N G TO I NVEST I N US .

L AW R E N C E G E L L E R S T E D T AT L A N TA M A R K E T L E A D E R

12 W E ’ V E C O M E A L O N G WAY Healthy things grow, which sometimes results in outgrowing an existing office space. That has recently been the case in our Boca Raton, Coral Gables, Southern California, and Tampa offices, and our associates are loving their new digs.

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14 LET’S GO The acquisition of Southsource added nine additional Atlanta CRE professionals to the Foundry lineup, including Lawrence “LG” Gellerstedt, recently named Atlanta Market Leader. Get to know him a little better.

FALL 2023

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N E A L S C OT T, B E S S I E W I N S TO N , R I C H A R D SM I T H

R E TA I L T H E R A P Y At the height of the COVID-19 pandemic, and even beforehand, there were many in the industry who wondered whether retail would survive. Today, the retail asset class is on fire, proving that consumers do crave experience, and that shopping online can’t always scratch that itch.

30 L A U N C H I N G A R E TA I L I N V E S T M E N T P L AT F O R M While many others in our industry are pulling back on growth pursuits, Foundry’s D&I business remains bullish on the retail industry, with Rick Coe and Matt Gallo leading the charge from our Dallas market.

40 L AU R E N M A R Q U E SS , C H A R L I E H OWA RT H , C AS E Y F L A N N E RY, ZANE HENDERSON, JAKE GOODMAN

GROW WHERE YOU’RE PLANTED A Q&A with Lead Building Engineer Angel Santiago about his journey here at Foundry.

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EXPLORING THE AI LANDSCAPE Lauren Marquess leads a Q&A with associates from different areas of the platform to learn more about how they are integrating AI into their daily tasks.

S E RV E W E E K This past April, Foundry was proud to serve a variety of worthy causes in our communities during our annual Serve Week.

44 C U LT U R E Life keeps on moving, and exciting things are happening all around us.

Take a look at some of the major milestones Foundry associates have experienced since our last issue.

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Because we’ve grown the company from the ground up, we haven’t always had the luxury of having cool office spaces.

I vividly remember Susan McGuire and Ben Hullender working on card tables surrounded by moving boxes in Charlotte, and Pryse Elam and A.J. working in what seemed like a broom closet to launch our D&I platform in Boca Raton. In Nashville, it was Jason Holwerda and Shelby Hall in a super small suburban office building, where the conference room was straight-up scary for anyone who’s claustrophobic.

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Healthy things grow, which sometimes results in outgrowing an existing office space. That has recently been the case in our Boca Raton, Coral Gables, Southern California and Tampa offices, and our associates are loving their new digs!

These expansions and buildouts took a village to get over the goal line, but everyone involved agrees it was worth the effort. Here at Foundry, our design and construction teams understand how much an office environment can impact job satisfaction, collaboration, productivity, and overall “vibe.” This has always been a very important aspect of the workplace, and post-COVID, it’s even more critical to get right.

A new brokerage recruit shared recently that the biggest differentiator she’s experienced at Foundry was the gratitude and humility of our teams. It seems only fitting that every person I speak with who offices in these new spaces continuously expresses gratitude about being a part of the growth of our great company.

Over 16 years ago, Foundry’s very first office was in a Class-C building in downtown Orlando called the “Round Building,” which was littered with second (or maybe third)hand office furniture, miles of filing cabinets, and the slight stench of mold. But as I recall moments in that space, it brings a huge smile to my face because there is something wildly rewarding and real about building something with what you have and appreciating every part of the journey.

So, while we are pumped about our new office spaces, it hits us that the space itself is never the “magic bullet.” The magic is in the people, and we have some of the best human beings on the planet at Foundry.

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We want the workplace to be wind in our associate’s sails, a place that’s compelling to drive to and where associates know they can spend quality time with co-workers and clients. On average, we spend more time in the office with our colleagues than at home, so we want to provide beautiful, comfortable, and productive spaces for associates that go beyond cubicles and Keurig coffee.

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“Personally, I am so much more productive in the office, and having this new and inviting space makes me want T IE to be here. The new T R O TT office gives us the opportunity to collaborate with each other; we had been experiencing growing

Coming out of the pandemic, we didn’t really have a great workplace solution where we could all R IS work collaboratively, B U RY and it felt like we really needed to get back to having more physical interaction. The new space has spurred creativity and togetherness that we haven’t had in years. In the last 6 months, we’ve had more clients come to visit and use our conference rooms than the last 10 years combined! We’re grateful for it, and it feels good to be excited about going into an office again,” said Chris Bury, Partner and Senior Vice President in Foundry’s Southern California office.

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“An office environment can really make or break how you feel about your job, since many of us spend more time in T IE A the office than at home.

C R O SI Our new office allows the entire Boca team to collaborate and be together in one space, which we couldn’t do in our previous location. We also have more space to grow our team.

Aside from the new, cool furniture and updated technology, everyone genuinely just seems happier to be here. However, the addition of a putting green might be the best new feature, though,” said Katie Rosica, Development & Investments Analyst.

pains for a while, so it feels fantastic to have this beautiful space to share with everyone again,” said Katie Trott, Partner. “The energy and excitement level has completely changed.

We can’t wait for the rest of our Foundry family to come visit us in Champa Bay!”

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“I love the natural light we have throughout the new office space. The layout provides our team with a great place to work V T ID N and collaborate.

B L O U We’re also really excited about the addition of our new ‘strategy room,’ which provides a great backdrop for meeting and discussing various projects,” said David Blount, Development & Investments, Partner. “We have a great team that is the main contributor to making our office truly special.”

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LET’S GO Atlanta is one of the fastest growing metros in the U.S., having seen its population grow by nearly 19% since 2010 with projections to grow another 50% over the next 30 years.

The mere size of Atlanta is astonishing. It’s the fifth largest city in the country with 6.1 million people, equivalent to the Jacksonville, Nashville, and Charlotte populations combined! It’s also home to 20 Fortune 500 and 1000 headquarters. Renowned for its deep cultural significance, Atlanta magnetizes an exceptional diversity of talent and cultures, making it a vibrant and dynamic hub of creativity and multicultural exchange.

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Seeing this exponential growth and the resulting opportunity, Foundry launched our Atlanta office in 2016. At that time, R the leadership team recruited an amazing IS H U R D leader in Chris Hurd, who has quite literally grown the market from scratch. With Chris at the helm, we have been able to grow a formidable team in Atlanta, representing one of the highest producing brokerage offices in the platform the last two years. Much of that can be attributed to the record-breaking production of R P D M Jordan Camp and Reid Hanner in the A N C A industrial sector, who saw the opportunity in the industrial storage space and have shepherded Foundry into a dominant position in that market segment.

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As our Atlanta office deepens its roots and continues to expand, Foundry recently announced the strategic acquisition of Southsource to add fuel to our fire. Founded by Lawrence “LG” Gellerstedt in 2020 (yes, when COVID started), Southsource is a boutique CRE firm that has become a force to be reckoned with, particularly in the office segment. LG may be a familiar face or name to many, as he was a Foundry client when he oversaw strategy for the Southeastern U.S. for WeWork. Jason Holwerda and Shelby Hall represented WeWork in Nashville and formed a deep relationship with LG as they worked together on several deals. As part of Foundry’s strategic growth plan, LG has recently shifted into the role of Atlanta Market Leader, setting Chris Hurd loose to focus on building out our investment sales business in the greater Atlanta region.

The acquisition of Southsource has added nine additional Atlanta CRE professionals to our lineup, and while we encourage all Foundry associates to get to know them individually (they are all awesome), we thought it might be helpful to get to know LG a little better, as an early introduction. Enjoy some excerpts from a mostly serious (we tried!) interview with our new Atlanta Market leader.

In addition to producing strong brokerage numbers, the team manages 2 million square feet while also actively pursuing R H A N N E deals for the Development and Investment side of the business, which has resulted in more than $85 million of D&I transactions in the area.

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( F R O M L E F T ) SA R A H M A F F E I , A MY ST I N S O N , LG G E L L E R ST E D T, P H I L CO STA B I L E , J O H N N E A L S COT T, B E SS I E W I N STO N , R I C H A R D S M I T H

AS A FELLOW BUILDER AND ENTREPRENEUR, CULTURE IS A TANGIBLE AND CHERISHED ASSET TO A COMPANY… HOW DID YOU KNOW FOUNDRY WAS CONGRUENT WITH SOUTHSOURCE’S UNIQUE CULTURE?

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I come from a long line of commercial real estate professionals, spanning several generations. As a fourth-generation Atlantan, I have a deep connection to the city. Initially, I resisted the idea of entering the real estate industry and began my career in public relations and marketing.

It allowed me to stretch and strengthen my creative muscles. However, everything changed for me during a marketing class where I discovered innovative techniques that could be applied to real estate. I seized the opportunity to blend my marketing expertise with the world of real estate. At Cushman & Wakefield, I eventually took the lead in the Atlanta team’s initiatives related to co-working and flex real estate solutions.

My journey continued as I joined WeWork, where I spent two years managing 1.5 million square feet of space across the southeast region. What I truly love about my work is the ability to make a tangible impact and drive meaningful change.

Many don’t think of commercial real estate as an industry of change, but I tend to think it’s ripe for those opportunities.

The city boasts essential urban features like an integrated rail system, interstates, an international airport, and a generally favorable climate. Over time, the city’s leaders have made sure to invest in assets and infrastructure. The city is home to a welleducated and diverse workforce that works together to foster a balanced ecosystem, where different groups collaborate and thrive together. The economy is robust and diversified, ensuring stability and growth.

What truly sets Atlanta apart is the blend of a rich cultural and social fabric woven into its infrastructure. There’s a vibrant momentum driving prosperity and nurturing the city’s growth. Within Foundry, we already have a solid foundation to build upon. Our teams have shown their impressive capabilities, and now, by joining forces, we have an incredible opportunity to establish a stronger presence in the commercial real estate market here. With numerous capital sources in the area, we can unlock growth for other markets as well. The potential for success is virtually boundless, whether it’s in retail, D&I, Maxis, or other verticals.

I have an unbridled belief that our industry can do things differently. In all my interactions with team members from Foundry, that belief was always encouraged. I think it says something that Southsource pushed hard into the office segment right as the pandemic was unfolding, and likewise, I think it says something that Foundry was willing to invest in us when many might be running from the office segment. Among both cultures, there exists a genuine curiosity to go about our business in a more creative, personal way.

WHAT WAS THE BIGGEST TAKEAWAY FROM WORKING WITH WEWORK? WHAT DID IT IMPRESS UPON YOU THAT MAKES YOU A BETTER LEADER OR PERSON? My time at WeWork taught me that to make a company truly successful, you need a perfect blend of wild, visionary imagination and rigorous execution. It’s truly incredible what you can achieve when you have both working in concert.

WHAT’S YOUR FAVORITE TATTOO AND WHY? My favorite tattoo – and probably the most meaningful – is of Smith’s Olde Bar in Atlanta. It’s a dive bar, but my nowwife and I had some of our earliest dates there, and I got the tattoo on a whim on our third date. It reminds me of how I’m supposed to feel when I’m inspired.

TELL US ABOUT YOUR FAMILY, WHAT ARE YOUR INTERESTS, WHAT DO YOU DO THAT BRINGS YOU JOY OUTSIDE OF THE OFFICE? With three kids, there’s not a lot of time to pursue my personal interests, but I enjoy running and used to play a lot of golf.

These days, I love spending time with my family. Our oldest son plays baseball – both travel and for his high school – so I often find myself at his games cheering him on. We also have ‘two under two’ – Smith and Sadler. We spend time as a family at a lake house on Lake Rabun.

DESCRIBE YOUR EXPERIENCE REPRESENTING THE “NEW SCHOOL” IN AN “OLD SCHOOL” INDUSTRY? WHAT ARE SOME OF THE TENSION POINTS? WHAT HAS SURPRISED YOU? We work in a mature industry that’s largely focused on mitigating risk. Even though I’ve pushed the boundaries for a long time, I know I still have more to learn. Creativity is tied to risk, and most of the time, the tension point is understanding how to balance the two while still executing. As a creative, the momentum and broad appeal of ‘the way things have always been done’ has been surprising to me.

BEING IN THE ATL AND THE HOME OF SO MANY GREAT MUSIC ARTISTS, WHAT’S YOUR MUSIC VIBE? In the spirit of being really honest, I’m actually more of a podcast person, and specifically fantasy podcasts focused on games like Dungeons & Dragons. I love the fantasy of it… the math and the rules.

I have a busy brain, so I find this kind of structure keeps me focused. Talking music, though, I like a wide variety of genres and artists. Zach Bryan, Luke Combs, Blink-182, Reel Big Fish, OutKast, Tupac, Garth Brooks, even Broadway classics. It really runs the gamut.

( F R O M L E F T ) J O H N N E A L S COT T, LG G E L L E R S T E DT, E L L I S M U R R AY W I T H C A P I TA L R E A L E S TAT E G R O U P

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Amidst the fast pace and constant change of today’s business environment, nurturing the next generation of professionals is more crucial for the success and sustainability of a company than ever before. Our “It’s Personal” motto – weaving through the fabric of the company since we launched in 2007 – has meant many things to many people, but in this season, stewarding our company’s successes and experiences to encourage and teach the next generation has become one of our core tenets.

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EMPOWERING THE NEXT GENERATION

CARL PIERRE AND GIALIN TRAN

It’s hard to find a news headline about higher education that doesn’t place extreme value on real-world experience.

Understanding the cascading effect that scholarships and tangible experience can have on students and recent graduates, Foundry has set up several student engagement programs with the intention of fostering the growth and development of young talent. Whether through strategic partnerships with best-in-class educational organizations or internal initiatives that have been built from the ground up, Foundry Commercial is actively involved in shaping the future of aspiring professionals in the commercial real estate industry and beyond.

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ne of the prominent initiatives through which Foundry Commercial invests in the next generation is the Orlando Heart of the City Fellows program. As one of 33 Fellows programs throughout the country, the program empowers students from diverse backgrounds, providing them with valuable internships and mentorship opportunities in a variety of industries. Foundry became involved in the program in 2018, and since that time, we have engaged five fellows, ultimately directly hiring four talented associates from the program – Kevin Will, Abby Nelson, Kerri Shook, and Tabitha Taylor.

“For me, the Fellows program provided a springboard to start well in my faith, community, and job,” stated Kevin Will, Senior Associate on Foundry’s office brokerage team in Orlando. “Commercial real estate is not necessarily the easiest industry to break into, especially for someone who’s not from this area, but to have the opportunity to spend nine months testing out the various aspects of the job, and to learn under some of the best professionals in the industry, it truly made all the difference for me. Today, I love being able to pay it forward, guiding some of the newer associates as they carve their own paths, while also being able to help grow the business.”

KEVIN WILL ON THE RIGHT WITH

“The Fellows program opened doors for me that I probably wouldn’t have been able to enter otherwise. I thought I wanted to work in human resources and had a great internship through Second Harvest Food Bank doing just that, but I was introduced to Foundry when associates were volunteering there during Serve Week 2021. Soon thereafter, I found myself talking to Scott Renaud about coming to Foundry as an operations intern,” said Kerri Shook.

Kerri started with Foundry in that role in the summer of 2021, and in January 2022, she was offered a full-time position as an assistant real estate manager. Today, she’s an integral part of Foundry’s Platform Infrastructure Team and works alongside Scott Renaud, Mark Bennett, and Rob Carpenter in operations.

The program continues to thrive, with interns like Will Nesmith joining the company in a data analytics role this Fall.

In a full-circle moment, then-high schooler Will was a camper at Ridgecrest Camp for Boys in 2016, with then-camp counselor Kevin Will, before eventually going on to attend Kevin’s alma mater, The University of Tennessee. Now knowing one another for seven years, working for Foundry will not be the only thing these two have in common. The Orlando Heart of the City Fellows program not only exposes young professionals to the industry but also helps them grow and succeed in their careers.

With other Fellows programs operating throughout the U.S., Foundry hopes to partner with new Fellows programs where Foundry has offices.

( F R O M L E F T ) TA B I T H A TAY LO R , A B BY N E LS O N , K E R R I S H O O K , KEVIN WILL

FOR ME, THE FELLOWS PROGRAM PROVIDED A SPRINGBOARD TO START WELL IN MY FAITH, COMMUNITY, AND JOB. KEVIN WILL S E N I O R ASS O C I AT E , O F F I C E L E AS I N G

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or any student, there are often barriers standing in the way between high school graduation and the hope of moving ahead to an undergraduate or even advanced degree. Our company actively supports Elevation Scholars, an organization dedicated to empowering first-generation college students from underrepresented backgrounds. In the past couple of years, several Foundry associates have volunteered with Elevation Scholars, exhibiting the company’s dedication to fostering diversity and inclusion within the industry. This summer, Foundry welcomed two Elevation Scholars as interns, Gialin Tran and Carl Pierre, both embarking on their sophomore year at prestigious universities. By providing these scholars with hands-on experience and exposure to the commercial real estate industry, Foundry Commercial strives to break barriers and create opportunities for underrepresented talent.

It was a random post on Instagram last summer that led both Gialin and Carl to express interest in interning at Foundry Commercial. Both members of Elevation Scholars’ Class #8, they separately saw an Instagram post featuring the program’s Class #9 attending a Horizon Event (company and industry overview) at Foundry, and it piqued their interests.

Fast-forward a few months to Elevation Scholars President Scott Lee setting up a lunch between the two and Gregg Ickes, Nick McKinney, and Zane Henderson.

“After that meeting, I knew I wanted to explore interning at Foundry Commercial. I loved the culture and wanted to learn more about commercial real estate, so I reached out to Zane and asked if there might be any opportunities for a summer internship,”

said Gialin Tran, who attends Wake Forest University and is majoring in business enterprise management with minors in entrepreneurship and chemistry. “Everyone in the office has been so welcoming; they would pause what they were doing – no matter how busy their days were – to get to know me a little better and teach me about their facet of the industry.”

Carl Pierre, a Duke University student who is majoring in civil engineering with minors in math and finance, echoed similar sentiments. “Even though everyone has a ton on their own plates, whatever questions you have, they really take the time to explain the concepts. At Foundry, it really is more than just work. It’s Personal, and it’s really nice to be in a place where you enjoy the people you work with.”

When asked what the biggest surprise coming out of their summer internships has been, Gialin noted that “There has been so much more flexibility and trust put in me than I ever thought would be part of an internship. At a lot of bigger companies, there’s this rigid job description for interns, and everyone is encouraged to really stay in their own bubble. But at Foundry, you’re encouraged to try out different aspects of the profession, getting a sense for what goes into every job function, and there’s so much trust placed in my abilities to learn and adapt and excel.”

Carl added: “It has been such a handson experience. I’ve loved being able to actually walk different sites, touring properties that I may have otherwise only known as a line item on a spreadsheet.

This internship has also given me a sense of clarity in what I want to do in my career; the highlight of my summer was going down to Foundry’s D&I Deal Hub in South Florida, and getting a sense for what an analyst does.”

( O N T H E R I G H T ) S COT T L E E , P R E S I D E N T O F E L E VAT I O N S C H O L A R S , I N C .

“Foundry takes immense pride in being able to sponsor this transformative program that pours into the lives of these amazing students. Our credo is ‘It’s Personal.’ This is born from a desire to invest in initiatives that uplift and empower those around us.

We believe that supporting these young people on their path to realizing their true potential isn’t just a commitment; it’s a heartfelt investment in shaping a brighter future for generations to come,” said Nick McKinney, Foundry’s Chief Strategy Officer.

AT FOUNDRY, IT REALLY IS MORE THAN JUST WORK. IT’S PERSONAL, AND IT’S REALLY NICE TO BE IN A PLACE WHERE YOU ENJOY THE PEOPLE YOU WORK WITH. CARL PIERRE D U K E U N I V E R S I T Y ST U D E N T

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oundry Commercial’s engagement with colleges and universities further exemplifies our dedication to shaping the next generation of leaders. Key figures within the company, such as Paul Ellis, David Kern, and Jonathan Balthrop, are actively involved with the graduate real estate program at the University of Florida. Similarly, Gregg Ickes, Katie Trott, Cary Fronstin, and JC Tacot are committed to Florida State University’s undergraduate real estate school. Rick Coe sits on the board of the Folsom Institute at SMU and is also on the international advisory board for the University of Colorado, working to support real estate curriculum, faculty, and scholarship. There are many more examples across the Foundry platform. Each year, through the many associates who volunteer with their own alumni institutions, Foundry Commercial imparts practical knowledge and insights to aspiring professionals, enhancing their academic journeys and preparing them for success in the industry.

AS H T I N H M I E L E WS K I , G R E Y J O N AS , O L I V I A G R I F F I N ; C H A R LOT T E I N T E R N S H I P

G R E G G I C K E S , F LO R I D A S TAT E U N I V E R S I T Y R E A L E S TAT E S O C I E T Y, GA B E D E J E S U S

This summer, incoming senior and basketball guard at Vanderbilt University, Tyrin Lawrence, interned with Foundry’s Nashville office in the D&I platform. Immersing himself in zoning laws, permitting processes, and civic development plans as part of one project, he studied ways in which Foundry could help shape a community’s growth. Nashville Market Leader Jason Holwerda – himself a Vanderbilt basketball alum – heard that Lawrence was looking for an internship and answered the call. “He has been a hard worker and eager to learn, which is a good combination,” Holwerda said. “I just wanted to honestly make the most out of the opportunity while I was here,” Lawrence added. “I only get this once in life. I just wanted to leave knowing that I did all I could.”

The Charlotte office welcomed Grey Jonas as a graphic design intern this summer. In her role, she learned various editing programs and techniques, and assisted with special events. “Beyond the technical skills, I learned a lot about interacting with people in an office setting, and it was great to be able to do that in an environment where everyone is so accepting and patient,” Jonas noted.

In the past several years, Foundry has also strengthened our efforts in reaching out to historically black colleges and universities (HBCUs), where commercial real estate opportunities may not be widely known.

In 2022, we committed to a multi-year partnership with the Real Estate Executive Council (REEC), the nation’s preeminent professional trade association promoting the interests of executives of color doing business across the commercial real estate industry.

Under the leadership of D&I Controller and Partner Rayanne Charles, Foundry is building a scholarship pipeline and being intentional about inspiring and guiding young talent from diverse backgrounds, bridging the gap between untapped potential and the commercial real estate industry.

Gregg Ickes, President, emphasized the significance of supporting the upcoming generations of leaders. “It is our duty to expose young minds to the vast opportunities within the commercial real estate industry and the business world as a whole. By investing in their growth and development, we not only secure the future of our company but also contribute to the progress of the industry.”

FOUNDRY’S SCHOLARSHIP PROGRAM

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n early 2020, in conjunction with the platform’s recapitalization, Foundry created a scholarship program to recognize and celebrate the dedication and hard work of associates. Since that time, a scholarship committee comprised of associates from varying departments throughout the company, have worked together annually to solicit and award scholarships to the dependents of associates (excluding brokers and partners) pursuing undergraduate degrees. With an initial allocation of $100,000 earmarked for 5-7 years, the scholarship program awards between $15,000 - $20,000 in scholarships each year. This initiative showcases Foundry’s commitment to not only investing in associates, but also in their family members, with a goal of strengthening a sense of community.

Since the program started, students of varying backgrounds and geographies have received scholarships from Foundry to colleges and universities ranging from Palm Beach Community College to Brown University, and many higher education institutions in between.

Scholarship applications are anonymous when reviewed, but one applicant who was selected to receive scholarship dollars in

2023 stated: “I feel honored and grateful to have been selected as a recipient of the Foundry Commercial scholarship. I want to thank you for making this generous financial support for my higher education possible. You have lightened my financial burden, which allows me to focus more on the most important aspect of school… learning. Your generosity has inspired me to help others, and I hope one day I will be able to help students achieve their goals just as you have helped me.”

FOUNDRY COMMERCIAL REMAINS COMMITTED TO SHAPING THE FUTURE OF THE INDUSTRY.

R AYA N N E C H A R L E S , J ACO B M I TC H E L L , J U L I E CA P L E

Foundry Commercial’s commitment to fostering the next generation of talent continues to grow in strength and numbers. From the Orlando Heart of the City Fellows program to a partnership with Elevation Scholars, the company actively supports aspiring talent from diverse backgrounds, providing the resources and mentorship needed to succeed in the commercial real estate industry.

DAN MORSE T Y R I N L AW R E N C E

Through our internal scholarship program, alumni engagement, and service leadership among the universities and colleges our associates are tied to, as well as a significant partnership with REEC, Foundry Commercial remains committed to shaping the future of the industry, helping to ensure a steady stream of skilled and innovative leaders.

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TO P P H OTO : N I CO L E H O O G L A N D , R H E T T B ATA N I D E S , S U SA N M CG U I R E , TO M MY T R I M B L E , K E E LY H I N E S B OT TO M P H OTO : TO M MY T R I M B L E , S U SA N M CG U I R E

THE SUSAN EFFECT H

ow do you bid adieu to a legend? There were probably 1,000 people who would have lined up to contribute to this article, but an impending deadline forced us to limit the list. There were several resounding themes…

On a mission. True leadership. Sincere. Tough as nails. Authentic. Cares for her people on a personal level. Dialed in. Dedicated. A friend.

A sister. Passion. Ownership mentality. Classy.

A secret weapon. Fiercely loyal. Refreshingly candid. Selfless.

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Susan McGuire’s impact at Foundry and beyond has undoubtedly been dynamic and far-reaching.

At the end of September, Susan will be leaving Foundry to enjoy a well-deserved retirement doting on grandchildren, relaxing with her husband Jerry, and just generally being present with her family in a way that her one speed hasn’t afforded her to date. That one speed – as anyone who has ever worked with Susan knows – is full throttle, and the enthusiasm she brings to winning and retaining business is infectious.

A RT I C L E P H OTO G R A P H Y BY AS H T I N H M I E L E WS K I

Susan joined Foundry in 2011 with the acquisition of Crosland Partners.

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“My first recollection of Susan was not actually meeting with Susan, but rather hearing about her from the Crosland partners that she was so important to their retail platform. I felt like I knew her before I ever met her,” said Paul Ellis. “Susan has been with us since the beginning in Charlotte; there is no question we would not be who we are in Charlotte and in the retail segment without Susan’s leadership.”

Since joining Foundry, and under her leadership, the company has transitioned from a local-only property management option to a go-to solution for global institutions in Foundry’s markets. We have expanded throughout the southeast in building management; we have become known as retail leasing subject matter experts; and we have become SOC1/ Type2 certified. When she joined Foundry in 2011, we had 8 million square feet of building management business.

As she closes out her career here, we will have close to 50 million square feet. She has obviously been part of an enormous growth story.

“From the very beginning, Susan has been warm and inviting and such a great force of nature in planning Foundry’s future growth and business development plans,” said Scott Renaud, Chief Operating Officer.

“She has been a secret weapon, an elite real estate professional, a passionate leader, and a friend.”

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“Susan is an assassin that oozes class and integrity. She is refreshingly candid and fiercely loyal. She has been like a sister to me personally and professionally. When dealing with people, situations, pursuits, and challenges, she has always provided sound leadership and recommendations on how to tactfully approach and think through challenges. I will always be full of gratitude for the impact that Susan has had on me and others,” added James Mattox, Principal, Retail Services.

“When I learned I’d be working with Susan, I knew I’d be learning from THE BEST,” said Keely Hines, Senior Vice President. “How lucky was I to have a female mentor and leader? I felt like I had won the lottery! Susan’s sincerity and dedication to her company, clients, associates, and family cannot be measured – she is truly invaluable and irreplaceable.”

“Susan is indeed an expert at real estate asset operations and management, which has also made her really great at developing and winning business,” added Senior Vice President Tommy Trimble. “She is the ultimate client-first leader and an incredible mentor and cheerleader for her team; and she will fight for what is right for both. What may be most impactful about her, though, is her sincere selflessness and concern for her team and their wellbeing both professionally and personally, and her willingness to do anything to help without expecting anything in return.”

The terms “iconic” and “legend” can be thrown around a lot, but only a select few truly earn the right to be called an icon or legend.

Susan is one of them.

“Susan is always there for her clients. She’s a consummate student of real estate, always trying to learn more and apply the lessons to her business. She’s built a 40-year career in a male-dominated industry, and she leaves a legacy for future leaders. She is an absolute trailblazer. She leaves this industry with her head held high not only because she was successful, but because she never compromised who she is,” noted Charles Jonas.

When asked what has surprised him most about Susan over the years, Charles Jonas reflects: “Almost every day, she brings in her own meals. I think the reason is two-fold: she was born to be thoughtful about how she spends money; she’s very value-focused. But also because – and I think this is the main reason – she just wants to sit in the breakroom with the team, having personal interactions with them, learning about what’s going on in their lives.”

James Mattox added: “There will be a huge void left with Susan’s departure, but I am comforted in knowing that she has been a great leader and that she has led and taught so many at Foundry how to be better leaders and better people. She leaves a great legacy whereby she truly helped build Foundry into what it is today and what it will continue to evolve into. She has her fingerprints all over Foundry, and those fingerprints will not smudge or fade but continue to shine with her great legacy.

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Rhett Batanides, who serves as a Master Broker for several retail clients ranging from Volli Pickleball to Rocket Fizz, echoes similar sentiments. “Retail numbers are through the roof. The sheer number of brands that want to expand… I’ve never seen it this way.”

As Vice President of Retail Brokerage based in Foundry’s Charlotte office, Rhett represents many clients who have introduced experiential retail, which has had an overwhelmingly positive impact on quick-service restaurants, entertainment concepts, and boutique-type shops. He recently began working with the famed Mall of America outside Minneapolis, sharing that not all malls are slowly fading into the sunset. “Various malls, such as the Mall of America, have figured out how to stay relevant by marketing their property as more of an experience, and also grouping together similar concepts so the consumer can more easily come and stay for the activities they are interested in,” he said.

He added that retailers who have pivoted and sell beyond the generic goods that consumers can purchase on Amazon have also seen success. In representing niche toy concept Kappa Toys, he has learned that this one retailer who has the exclusive rights to unique Japan-based toy sales has cornered the market in the U.S.

1,000 net new stores in the U.S. this year as retail availability hits record lows, in fresh signs of the sector’s resilience despite turmoil in commercial real estate. In fact, landlords say demand for retail space has remained robust this year, defying inflation pressures, high interest rates, and liquidations.”

R E TA I L T H E R A P Y

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t the height of the COVID-19

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pandemic, and even beforehand

as e-commerce was exploding, there were many in the commercial real estate industry who wondered whether the retail segment would survive in the long-term. To almost everyone’s surprise, retail has become the asset class du jour, proving that consumers do crave experience, and that shopping online can’t always scratch that itch.

If it seems like the retail segment has been on fire lately, that’s because – for Foundry and others throughout the country – it has been.

According to an August article from the Wall Street Journal, “Retailers are on track to open

“There’s this notion of ‘revenge travel’ that is happening post-COVID, and brick-and-mortar retail is seeing a similar trend,” said James Mattox, Principal, Retail Services based in Foundry’s Raleigh office. “People were tired of being constrained within their four walls during lockdown. They wanted to get out and experience life again. And the retail segment was in a prime position to capitalize on that.”

James has worked within the asset class for more than 25 years, representing clients ranging from Dave’s Hot Chicken to Starbucks.

He attributes other aspects of the pandemic – namely a halt to any retail construction at the time – to playing a critical role in record-low vacancy rates. As of this writing, the rates are hovering around 4.6 percent.

As noted in the aforementioned Wall Street Journal article, “Retail real-estate recovery stands in contrast to the office market, where the popularity of hybrid work schedules has helped push up the office-vacancy rate to a 30-year high of 18.2 percent.”

“The other element that e-commerce can’t compete with is what I like to call the ‘Instagram-ability’ of a retailer,” he added.

“Younger consumers want places that serve up an aesthetic. They want to be able to take selfies; they seek out places with creative food presentation; they like lights and plants on the walls. They watch what influencers are doing and strive to experience life like they do.”

Perhaps no one has capitalized on these trends faster than Senior Vice President of Retail Services in Nashville, Carrie Bobb, who literally launched an entire social media marketing agency to help connect landlords to the new consumer. Despite having built her book of business over 20+ years in southern California, she and her family decided to move across the country last year to start again in Nashville. As the pandemic was underway and retailers were feeling the sharp declines in business, she cracked the code for engaging consumers and getting them to spend money. Build the relationships, know the market analytics inside and out, and get the landlords to understand they don’t have the secret sauce that we do. During her career, she has successfully designed and executed leasing strategies, representing landlords such as Hines, Kilroy Realty, Asana Partners, IQHQ, Heitman, Regency Centers, and many others. She has executed transactions with marquee brands like West Elm, Sephora, SoulCycle, lululemon, Blue Bottle Coffee, Cinepolis, Restoration Hardware, Shake Shack, drybar, Fox Restaurant Concepts, and several others.

Carrie is considered an expert in placemaking and understands how to create unique, memorable experiences that lead to consumer purchases – a resounding theme in this new age of retail. As fate would have it, another talented retail broker was looking to chase her passion for serving landlords of mixed-use developments, and an opportunity to work with experienced retail leasing executive Carrie Bobb opened at Foundry. Now, Molly Marcum works alongside Carrie as a Senior Associate Broker in Nashville.

“We are poised to help landlords curate meaningful merchandising strategies and execute on creating memorable experiences that evoke emotion through retail leasing,” Carrie said.

WA L L S T R E E T J O U R N A L

And their joining Foundry could not have come at a better time. Nashville Market Leader Jason Holwerda sums up what many of us are already thinking, knowing that the retail industry is red-hot and ripe for opportunity.

“Foundry has been steadily increasing our footprint in the Nashville region since we opened our office here in 2014, but the retail segment was one area that we had not yet expanded into,” he said. “With the addition of Carrie and Molly to the team, Foundry is immediately poised to capture market share,

and we’re already seeing how Nashville landlords are jumping at the opportunity to tap into their expertise and unique approach.”

From every corner of the country, consumers craving experience are dictating the ways in which successful retail concepts are going, and many landlords and tenants are rising to the occasion. It’s impossible to predict how long this string of activity will continue, but for now, Foundry’s retail brokers and tangential business lines are happy to study the data and analytics, execute the strategy, and ride the wave.

P H OTO G R A P H Y BY: HANNAH FEITEN

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RICK AND MATT BRING A RECORD OF HAVING TRANSACTED BILLIONS OF DOLLARS OF RETAIL INVESTMENTS. PRYSE ELAM C H I E F I N V E STM E N T O F F I C E R , P R E S I D E N T O F D & I

“Having survived government shutdowns and the meteoric switch to e-commerce during the pandemic, retailers have discovered a renewed appreciation of brick-and-mortar.

Today we know better which retailers survived the pandemic, how they did so, and what success is going to look like in the retail industry going forward,” said Pryse Elam, Foundry’s Chief Investment Officer. “Rick and Matt bring a record of having transacted billions of dollars of retail investments.

With these two at the helm, combined with our existing retail services platform, the opportunities for making well-advised investments, diversifying our portfolio, and growing our services business is expected to be significant.”

“Vacancy is at historic lows; tenant demand is high; rents continue to grow; and there’s really not a lot of new development happening in the space,” stated Rick. “With a focus on retail centers in the geographies where we have boots on the ground, we’re pleased to pull together regional, aggregated opportunities for investors that see the value in these types of properties.”

“We’re keen on the risk profile of these shopping centers, with a focus on servicebased tenants that are generally ecommerceresistant. Not only are we one of the very few firms operating in this space, but our platform is well-suited to work alongside landlords throughout the lifecycle of the

property, from purchase to management, from tenant improvements to the eventual, profitable exit,” added Matt.

As with other areas of our business, the Retail Investment Platform leverages many of the other verticals and areas of our platform, building upon existing relationships and expertise to provide a fuller scope of services and investment opportunities to our clients. Rick and Matt have begun their road trip strategy to bring more details about the Retail Investment Platform across the company, so additional details are forthcoming as they make their way around Foundry’s markets.

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TO P R OW : M C K E N S E Y M CG I L L , A L E X A A N D R I O F F, N I C K M C K I N N E Y, CA R R I E B O B B B OT TO M R OW : N I CO L E I S O N , VA N E SSA I N D I E N OT P I C T U R E D : B L A I R D AV E N P O RT

jenny, We’ve Got Your Number.

We couldn’t resist the throw-back reference to the 1981 hit “867-5309 / Jenny “ by Tommy Tutone to launch us into the story of how hellojenny came to be a part of Foundry Commercial.

At Foundry, we’ve always tried to stay ahead of the industry by implementing creative marketing tactics for ourselves, our clients, and their projects. When we heard a buzz last year surrounding a social media marketing company that was focused entirely on commercial real estate, it piqued our interest. As luck would have it, we learned the owner of that company was interested in partnering with a commercial real estate firm to grow its presence and footprint even further throughout the U.S., and even better, that Foundry Commercial’s culture intrigued her. That owner was, of course, Nashville Senior Vice President of Retail Services Carrie Bobb, who had launched the digital marketing firm several years earlier.

In April, the deal was finalized, and the hellojenny team formally joined Foundry Commercial. In addition to Carrie, we have also welcomed Creative Director Nicole Ison, Operations Manager mcKensey McGill, Social Media Manager Alexa Andrioff, and Social Media Manager Vanessa Indie.

As many know, the retail industry has seen its fair share of ups and downs over the years, not the least of which can be described as a “near-death experience” in 2020 when brick-and-mortar stores closed for extended periods of time. It was during what would have otherwise been considered a dire time that Carrie and partners saw an opportunity, and they created hellojenny to help landlords drive revenue digitally.

After all, according to a 2022 report from Accenture, social commerce – which is defined as the intersection of social experiences and ecommerce transactions – is growing at three times the speed of ecommerce, shifting power from retailers and brands to consumers.

“Exacerbated by the pandemic, there is a chasm between how consumers shop for what they want and how retailers and merchandisers are able to meet them where they are,” said Carrie Bobb, and 20-year brokerage veteran. “In developing an entire platform that focuses on creating unique, memorable experiences that lead to consumer purchases, hellojenny has pioneered an overall leasing strategy for our clients that reaches their target audiences through social media via retailers, influencers, and the community.”

The timing of the acquisition was opportune, as Foundry’s Consumer Marketing function continues to build momentum. Borne from clients’ desires to engage Foundry in more direct marketing efforts for a variety of properties, it has become an increasingly requested service during the past several years. Blair Davenport, based in Foundry’s Raleigh office, has been managing these efforts. Since the hellojenny acquisition, she’s become more integrated with that team.

“Ironically, we had been watching how hellojenny was growing before we even began discussions with Carrie, recognizing they were taking a formulaic approach to helping landlords align their property’s social media strategies with their broader leasing efforts,” said Nick McKinney, Chief Strategy Officer for Foundry Commercial. “When we were connected by a mutual contact who felt the two company’s cultures were synergistic, it was evident immediately that we could work together to grow this service offering on a broader scale, and the client appetite is definitely there to support it.”

Becoming a wholly owned subsidiary of Foundry Commercial, hellojenny retains its own branding and presence at hellojenny. com. Existing clients will be served by hellojenny and integrating into Foundry Commercial’s broader marketing platform.

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S O C I A L M E D I A CO N T E N T BY H E L LOJ E N N Y

WE ARE THRILLED FOR THE NEXT CHAPTER FOR THE HELLOJENNY TEAM. THEY HAVE PLAYED A HUGE ROLE IN EVOLVING OUR SOCIAL MEDIA ACCOUNTS AND BRINGING IT TO A PLACE THAT MAKES US PROUD R I S H I K A M A H TA N I D I R E C TO R O F S H O P P I N G C E N T E R M A R K E T I N G , S H O P CO R E P R O P E RT I E S

“We are thrilled for the next chapter for the hellojenny team. They have played a huge role in evolving our social media accounts and bringing it to a place that makes us proud,” said Rishika Mahtani, Director of Shopping Center Marketing for Shopcore Properties, a longtime client of hellojenny.

“We were happy to play a role in their growth story and working together to leverage our social media platforms.”

“It’s an exciting time as social media carves out its own utility in the commercial real estate industry, with retail being one of the more obvious applications,” added McKinney. “We know the fundamentals of what hellojenny has been doing in the commercial real estate space can be applied to other verticals within the industry such as multifamily and seniors housing, and we’re looking forward to pushing those boundaries together.”

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EXPL ING AI & CRE: Insights from Our Associates Author and Interviewer: Lauren Marquess In an era teeming with technological advancements, artificial intelligence (AI) has quickly become an integral part of various industries, including commercial real estate. At Foundr y, we strive to stay at the forefront of innovation, and

some of our employees have been actively exploring and utilizing AI tools to enhance their workflow.

In this article, we’ll delve into the experiences and insights of associates who have integrated AI into their daily tasks.

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Hi ( ) I’m Lauren Marquess, Digital Marketing Manager, and I’ve been harnessing the power of AI to enhance my creative prowess.

A self-proclaimed AI “nerd,” I find myself digging into articles, podcasts, TikToks and Reels daily as this technological landscape continues to change.

My current AI toolkit includes products from Adobe, which I use to craft unique social media posts and varied graphics. I’ve had the opportunity to test out Adobe’s Firefly AI Beta program, and I’m amazed by how quickly I am able to create content. Utilizing things like the new autofill feature, subject select, mock-up and more while photo editing have sped up my workflow significantly.

A significant aspect of my job involves video creation, and I’ve found AI tools to help curate the perfect songs to accompany videos, creating powerful soundtracks.

The seamless integration of AI in my video production workflow has proven to be a game-changer, enabling me to deliver compelling content efficiently.

Furthermore, I rely on AI tools like ChatGPT and Grammarly for copywriting needs. I’ve found that this helps create a base for different things I need to write, and then I tweak to match the associated brand voice.

As I continue to explore different AI tools, I can’t help but geek out thinking how these powerful technologies will help grow Foundry’s business. I can’t wait to see how our platform continues to integrate them!

AI

HE FUTUR HE FUTUR

LOR-

the AI landscape

Casey Flannery

SENIOR ASSOCIATE

Zane Henderson VICE PRESIDENT OF SERVICES OPERATIONS

AI images produced by Lensa

Jake Goodman

LEASING ADMINISTRATION ADVISOR

Charlie Howarth SENIOR ASSOCIATE

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Casey Flannery Flannery, Senior Associate on the Nashville industrial team, actively explores AI’s potential. Primarily relying on ChatGPT, she finds it more valuable than traditional search engines, keeping it bookmarked for easy access. AI prompts assist Casey in crafting captivating social media captions tailored for LinkedIn or Instagram, sparking creativity and personalization. Casey encourages embracing AI in workflows, recognizing its competitive advantage

and valuable opportunities. While AI’s full impact on real estate is yet to be fully realized, Casey remains confident it will significantly influence the sector, nevertheless, she believes that human expertise and personalized services will remain essential in the industry.

Excited about automating tasks like lease abstractions and document searches, Casey envisions endless possibilities for AI integration, driving efficiency in her role as a real estate broker.

LEASE ADMINISTRATION ADVISOR

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Jake Goodman, a member of Foundry’s lease administration team, understands the importance of effective communication and streamlining processes. When it comes to AI tools, he has primarily explored ChatGPT and Bing, always searching for reliable options that help him convey his message accurately.

Bing, in particular, has served as a perfect test playground for him, as he finds it a trustworthy tool for his daily operations.

For Jake, the most helpful aspect of using ChatGPT is its ability to reword sentences and improve communication.

Whether he is attempting to enhance his written communication or seeking assistance with Excel formulas, he finds ChatGPT to be user-friendly and straightforward. He advises those looking to integrate AI into

their workflow to have fun with it, experimenting with different tools and leveraging their creativity to find new ways of utilizing AI effectively.

Jake is most excited about the integration of AI in lease abstractions, a crucial aspect of his job. Given the highly variable nature of leases and the importance of cybersecurity, Jake appreciates the opportunity to be a part of this exciting time in the industry.

He believes that AI will not replace jobs but rather enhance them, allowing professionals to focus on more critical tasks and unleashing their creativity.

VICE PRESIDENT OF SERVICES OPERATIONS

As someone who continually analyzes data, Vice President Zane Henderson on the real estate services operations team recognizes the immense potential of AI in his role. He has explored various AI tools, including ChatGPT, Axiom AI (a data gathering tool), Bing, Bard, and the code interpreter feature of ChatGPT. Utilizing these tools, and ChatGPT in particular, has been a game-changer for Zane. He employs it for everything from generating Power BI codes, and summarizing meetings to transforming non-formatted text into tables effortlessly. He’ll even use it to create workouts by sharing the equipment and time he has available and letting ChatGPT come up with the gameplan. Zane’s tips for integrating AI into one’s workflow involve experimentation and exploration. He encourages others to identify pain points and automate monotonous tasks, leveraging AI

as a powerful tool alongside traditional software applications, treating it like an always available intern. Zane’s enthusiasm for AI integration in the commercial real estate industry is contagious. He eagerly awaits the launch of Microsoft CoPilot and its potential to revolutionize the way we use everything from Outlook and Excel to PowerPoint and Word. The prospect of AI interpreting images, PDFs, and other data sources to facilitate comprehensive analysis excites him. While acknowledging that the commercial real estate industry may be somewhat behind compared to Silicon Valley, Zane believes that embracing AI and making connections between tools and processes will help teams spend their time on what they do best.

FINAL THOUGHTS Charlie Howarth, Senior Associate on the California religious, education, and nonprofit team, has harnessed the power of AI, particularly ChatGPT, to enhance his work. By using AI tools, Charlie has discovered creative ways to improve his email communication, generate descriptions for brochures, and create tables from online data. He appreciates the assistance AI offers in overcoming writer's block and providing different variations for his work.

For those considering integrating AI into their workflow, Charlie emphasizes the need for experimentation and coaching. AI tools require time and effort to achieve optimal results, and users should expect a learning curve. Although AI is not perfect, Charlie believes that it

will continue to improve and become an indispensable part of people's daily workflows in the years to come.

When asked about the impact of AI on his job and industry, Charlie highlights the versatility and potential it offers.

AI can automate various tasks, such as generating property descriptions, thereby saving time and stimulating creativity. He looks forward to AI's integration in virtual tours and the ability to streamline mundane tasks, allowing professionals to focus on more critical projects and enjoy their work.

As our industry adapts to integrating AI in our daily roles and processes, we are learning how to harness the power of these tools to enhance productivity and creativity. But every scale has a counterbalance. It’s crucial to exercise caution when using AI for content generation, double-checking sources and relying upon our own mastery of a subject when presenting ourselves as thought leaders. Responsible usage and diligent fact-checking are essential to ensure AI remains a valuable tool while maintaining the integrity of information dissemination. At Foundry, we encourage all employees to explore and experiment with AI tools, understanding that the true potential of AI lies in discovering new ways to integrate it into our workflow. By staying open to new possibilities, we can navigate the evolving landscape of technology and continue to lead in the commercial real estate industry.

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When Angel Santiago retired from his position as an aviation electronic technician in the Navy in 2008, he entered the workforce just as the Great Financial Crisis was making it nearly impossible for him to gain employment in aviation. With a family to support and no job prospects on the horizon, he applied to be in a security role at the CNL II building, and many of our lives have been made better because he took that job.

Immediately, Angel’s friendliness and helpfulness endeared him to many Foundry associates who interacted with him on their way into or leaving work at the Orlando office. He developed close relationships with Scott Renaud, Scott Ghent, and Nancy Hanson over the years, and when he was ready to pursue a new career path, he asked about the possibility of coming to work for Foundry full-time.

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In 2013, Angel was hired as a building engineer, and he was promoted to lead engineer last year. Working closely with those in the property management and building management functions, he acknowledges there was a bit of a learning curve as he settled into his role, a lesson he reflects on daily as he’s now able to mentor and coach associates who are learning the ropes of building engineering.

Today, he oversees the entire building management function at 215 N. Eola Drive in downtown Orlando, which houses the highly regarded Lowndes law firm.

His fingerprints have been on many of Foundry’s properties over the past decade, including Fulcrum, Heritage Park, Crews Commerce Center, Princeton Oaks, the UCC II office building, Sand Lake IV, and the Magnolia Building behind the Orange County Courthouse, to name a few.

Angel’s primary responsibilities involve building maintenance, responding to work order requests and ensuring all systems are working in a building – from lighting to air conditioning to fire preparedness to office move and setup requests, and much more.

When he’s not busy making sure his clients are more than satisfied with the caliber of his work, Angel likes to spend time with his wife and two daughters. The family owns a camper trailer that they take to state parks as often as possible. He approaches just about everything in his life with the “It’s Personal” mantra, taking every task he does personally, working hard to provide solutions for others, whether that be in his professional or personal life. This is perhaps best exemplified in Angel’s willingness to help others. For the second time, he’s growing his hair out to donate it to a pediatric cancer patient. “I’ve let my hair grow for the past two years, and now my ponytail is about seven inches long. I just need another five inches; so probably another two years, and I’ll be ready to donate it.”

“Angel is the definition of a team player,” said Scott Ghent, Senior Chief Engineer, who has worked closely with Angel since he joined Foundry and knew him when he worked security in Foundry’s office building prior to that. “He’s willing to do whatever’s necessary to help our clients succeed, and he does everything with a smile on his face. He goes the extra mile, and no matter where it is, people just love working with him.”

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FOUNDRY UNITED ISSUE 12

DAY TWO CHARLOTTE

Watch Serve Week videos here!

The Charlotte team volunteered with the Greater Enrichment Program (GEP) for the seventh year in a row. GEP provides after-school enrichment programs to at-risk elementary-aged children in the community. The team facilitated field day activities, such as balloon tossing, cotton candy spinning, and face painting, and enjoyed their time with the GEP students.

This year, Foundry was proud to serve a variety of worthy causes in our communities during our annual Serve Week.

SOUTHERN CALIFORNIA

SADDLEBACK FOOD DISTRIBUTION CENTER

DAY ONE

The Southern California team volunteered at the Saddleback Food Distribution Center, packing over 10,000 pounds of non-perishables for families experiencing food insecurity. This amount of food can feed a family of four for almost a year.

RALEIGH

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FA M I L Y P R O M I S E O F W A K E C O U N T Y

The Raleigh office served at Family Promise of Wake County, an organization that provides emergency shelter and meals to homeless families. The Foundry team completed tasks such as painting, cleaning, landscaping, building a covered patio, and tending to a garden to improve the living conditions for the families.

DAY THREE AT L A N TA

OPEN HAND ALTANTA

The Atlanta team volunteered with Open Hand Atlanta, packing and delivering almost 5,000 daily meals. Half of the team prepared over 300 meals while the other half distributed them to families in need. Their dedication helped provide nutritious food to those who needed it.

DAY FOUR

DAY THREE

DALLAS

F E E D MY S TA RV I N G C H I L D R E N

CORAL GABLES

FEEDING SOUTH FLORIDA

The Coral Gables team volunteered at Feeding South Florida, a food bank serving four counties and assisting nearly 11 million individuals in the past year. They inspected, sorted, and packed over 6,000 pounds of food to help families in need facing food insecurity.

B O C A R AT O N

CHILD RESCUE COALITION

The Boca Raton team volunteered with Child Rescue Coalition, an organization that partners with law enforcement to help prevent and rescue children from child trafficking. They focused on stuffing rescue bags, known as ‘blanket and bear hug kits,’ with carefully curated items to provide comfort and safety to children during rescue operations.

DAY FOUR

The Dallas team volunteered with Feed My Starving Children, a nonprofit empowering volunteers to pack meals for malnourished individuals worldwide. The team packaged 87 boxes of dried meal goods, creating 18,792 meals, and providing a year’s worth of food to 51 kids.

NASHVILLE

FRIENDS OF RADNOR LAKE

The Nashville team volunteered with Friends of Radnor Lake, an organization dedicated to preserving the natural integrity of the area through land acquisition and park support. The team distributed over 200 wheelbarrows of mulch along the trail, helping to maintain the picturesque surroundings for visitors to enjoy.

DAY FIVE

TA M PA

ORLANDO

The Tampa team volunteered at Feeding Tampa Bay, part of the Feeding America network. They packaged over 8,000 pounds of food including meal kits and bags of potatoes to help approximately 1 million food-insecure families in the 10-county area of west Central Florida.

In Orlando, a morning group and an afternoon group of associates from Foundry’s HQ office served at Second Harvest Food Bank, a private, non-profit organization that collects, stores, and distributes donated food to more than 500 feeding partners in six Central Florida counties.

F E E D I N G TA M PA B AY

JACKSONVILLE

D OW N SY N D R O M E A SS O C I AT I O N O F J AC KS O N V I L L E The Jacksonville office participated in an annual charity golf tournament organized by the Down Syndrome Association of Jacksonville. The team monitored and distributed beverages to participants at various holes, coordinating with other volunteers and ensuring everyone had refreshments throughout the tournament.

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Jones 01 Baby Jennifer Jones from the Tampa office, welcomed their baby boy, Vincent on February 3, 2023.

02 J.C. Tacot from the Tampa office and wife Baby Tacot

Mary welcomed baby boy, John Cormac, into the family on Christmas 2022.

03 Maria Linares in Orlando welcomed the Tiny Fingers, Tiny Toes

newest member of her family, Matias Duque Linares was born March 28, 2022.

04 Khrystyan Attwood said "yes" to Reece Wedding Bells

Attwood on November 12, 2022!

said Yes! 05 She Ally Mangini from the Raleigh office got engaged to her fiancé, Sam, in December 2022. They will be getting married October 27, 2023.

Couple 06 Happy Nathan Goodwin from our Coral Gables office and his partner, Brandon, got engaged in June 2023.

Lanahan 07 Baby Ally Lanahan from the Nashville office welcomed baby Cooper on October 20, 2022.

Said YES 08 She Claiborne Dandridge and Casey Mulhern in Charlotte got engaged in December 2022.

09 Monica Boehm in Dallas welcomed a new A Furry Friend

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furry friend named Holi to their family.

to Love 10 Cheers Jake Goodman married his wife Rachel in March 2023.

11 Andrew Maxwell’s son Charlie turned First Birthday one in January.

Best Friend 12 Man's Charlie Howarth in California adopted Ranger in October 2022.

Break 13 Spring Brian Brooks from Dallas and his boys went to Islamorada, FL for spring break.

Journey Begins 14 Their Madison Sigmon in our Charlotte Office and her partner Will got engaged in March 2023.

Wolcott 15 Baby Lindsay Wolcott Brown and Tim Brown from Dallas welcomed their new baby girl, Ellison Louise Brown, on April 20, 2023.

One Knee 16 On Tara Hasenour in Nashville got engaged on a beach in California!

17 Lovebirds Kyle Krumm in Orlando married Annalea Nichols on October 16, 2022.

Arrival 18 New Karah Tanneberger from the Charlotte office welcomed Reeves into the world in January 2023.

Pet Parent 19 Proud Jan Goodwin from the Raleigh office adopted a terrier mix puppy named Glen Coco in November 2022.

Coyle 20 Baby Clay Coyle, in Charlotte, welcomed Charlotte “Lottie” to the world in December 2022.

Ties the Knot 21 John John Neal Manning from the Raleigh office married Allie Larson Spoor on November 5, 2022 in Atlantic Beach, NC.

Declan 22 Little Alyson Pellerito from the Raleigh office had her son, Declan Michael Becker on September 30, 2023.

23 Grandbaby Jim Wells and Joy Wells from Dallas welcomed their grandson, Parker Clayton Wells, on December 1, 2022.

Expectations 24 Great Stuart and Emily Ashmun in Dallas are excited to announce their second pregnancy.

19.

10.

15.

20.

11.

21.

12.

07

16.

22.

13.

17.

23.

08

09.

14.

18.

SUMMER 2023

24.

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SEASON'S GREETINGS Throwback to all the fun celebrations we had in December. It was wonderful to celebrate alongside one another during the busy holiday season.

GOODBYE SUMMER From Dallas to Orlando, the teams celebrated the last day of summer and the first of fall with ice cream and treats.

HAPPY HALLOWEEN We had a spooky good time celebrating Halloween! From face painting to donut eating and everything in between.

FA L L F U N What’s better than pumpkin spice and everything nice? Across our markets, teams got together to celebrate the changing of leaves and the arrival of cold weather!

THANKSGIVING POTLUCK Thanksgiving potlucks? Count us in! Teams across the platform put together delectable spreads to celebrate the season of giving thanks last year.

H I S PA N I C

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H E R I TA G E M O N T H From a happy hour being serenaded by the talented guitarist Luis Alfredo Garcia to delicious luncheons featuring local Hispanic businesses, our teams enjoyed some incredible celebrations in honor of Hispanic Heritage Month.

HAPPY NEW YEAR We can't think of a better way to celebrate the New year than Paul Ellis dressed as a cow! The Orlando crew came together to celebrate “the best of the best” with a delicious spread of local breakfast favorites.

P I D AY VA L E N T I N E ' S D AY It was heartwarming to see our markets come together and spread the love on Valentine's Day.

B L A C K H I S T O RY M O N T H In recognition of Black History Month, offices across our platform highlighted local Black-owned businesses. From coffee to smoothies to sweet treats and everything in between, we enjoyed the exceptional offerings of these local businesses.

I N T E R N AT I O N A L WOMEN'S A P P R E C I AT I O N D AY Queen Bey said it best, “Who runs the world?

Girls.” To celebrate the amazing women in our offices, Raleigh, Charlotte, and Orlando handed out treats from local women-run businesses.

On Pi Day, several Foundry offices came alive with the joyous celebration of all things circular! From pizza pie to pies covered in whipped cream, our associates gathered to celebrate the deliciousness of this mathematical holiday.

S T. PAT T Y ’ S D AY Sláinte! Across the markets our associates enjoyed festive treats!

EASTER EGG HUNT They were on the hunt! The Raleigh team participated in an in-office Easter egg hunt before the holiday weekend. Blair Davenport came out on top as the winner finding the ultimate prize!

F O U R T H O F J U LY Fourth of July couldn't get any sweeter! From pies to smiles, our teams came together to celebrate!

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O F F I C E O LY M P I C S Nashville associates went head to head in Office Olympics.

From putt-putt to flonkerton to paper airplane games, the team enjoyed some silliness to kick off the summer.

TA S T E O F T H E N AT I O N S We are proud to have such a diverse group of people to work with. The Orlando team hosted their annual 'Taste of the Nations' potluck. It is so fun to get a taste of everyone's culture!

FOUR PAW S The Charlotte office put together donations for their local humane society. Look at those little faces!

'TIS THE SEASON FOR GIVING There are so many ways to give back during the holiday season. From sponsoring trees to gift wrapping to toy drives, our teams carried out the spirit of the holidays.

POWERHOUSE TEAM For their quarterly planning meeting, Maxis Advisors gathered in our headquarters office in Orlando.

This powerhouse team is going places!

C L AY S F O R A C U R E Our Tampa team attended 'Clays for a Cure' charity event benefiting the Moffitt Cancer Center.

NAIOP SPONSORSHIP C H A R LOT T E O F F I C E

SIX-ON-SIX VOLLEYBALL

EMPLOYEE

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A P P R E C I AT I O N D AY The Dallas team celebrated each other with Nothing Bundt Cakes.

Our Charlotte Team brought their A-game to a fierce competition of six-on-six volleyball, which benefits The ROC Charlotte!

The Orlando Office and Industrial teams hosted a table at NAIOP Central Florida Chapter's inaugural Food and Wine Festival. They showcased upcoming projects and vacancies.

CHARLOTTE CHECKERS From the office to the rink, the Charlotte team cheered on the Charlotte Checkers in February 2023.

ENGAGE WOMEN'S SUMMIT

EXPLORING MUSIC CITY

Foundry hosted it's first annual women's summit, Engage, in Orlando, FL. The event was created as a way to celebrate and recognize the women in our company.

The Nashville office had a blast exploring Music City on a bus tour, visiting everything from iconic landmarks to vibrant streets.

B A C K YA R D B O N F I R E Dan Bauchiero from the Nashville office, opened his backyard to the team for happy hour near the bonfire.

P U T T- P U T T The Dallas team went head to head in an all-office putt-putt tournament filled with fierce competition and some good laughs. It’s crazy how this team has grown in the past few years.

SUMMER BASH BRUNCH The Orlando office transformed into a tropical paradise to kick off the summer 2023. From resort -style outfits to a delicious feast, the lease administration team pulled together an unforgettable experience.

ICE CREAM ANYONE? There’s nothing like a Kelly's Homemade Ice Cream pop-up event in the office to kick-off the start to summer.

LEARNING NEVER STOPS A group of students from Florida State University Real Estate Society went to the Orlando office to learn about the different career paths available in CRE.

BOWLERO The Charlotte property management team had a blast at Bowlero! They "bowled" over with laughter and fun while enjoying some time out of the office.

RAISE A GLASS The Charlotte team indulged in a wine and cheese pairing in March.

H U B C A D D Y D AY Every other Friday, our associates from the D&I Deal Hub head to the driving range for bonding and to hone their skills.

WELLNESS WEEK

C R E AT I N G A B U Z Z Our 300 West Summit Management team in Charlotte, NC joined Zurich North America and Bee Downtown to introduce more than 100,000 honeybees to their rooftop terrace.

This spring, Foundry associates celebrated Wellness Week focusing on mental, financial, and physical health. Our associates ended the week feeling empowered and rejuvenated!

S C AV E N G E R HUNT The Charlotte office took to the streets! After moving into their new office, the teams went around their neighborhood, found various items, and did funny tasks like bowling and posing in front of murals.

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S A R A FAC K L E R , CHELSEA GRAHAM, KERRI SHOOK, PA I G E B R OW N I N T H E ORLANDO OFFICE

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ACTIVITY SHEET Who’s ready to have a little fun? In this issue of Foundry United, we encourage you to tear out this activity sheet and show us what you’ve got! On the right, dive into a Foundry CRE-centric crossword puzzle and test your skills with a word scramble. And on the back, you’ll find a blank Foundry United cover just waiting for you to unleash your creativity. Don’t hold back!

And when you’re done, please submit your masterpiece to Hannah Chittum at hannah.chittum@foundrycommercial.com for a chance to be featured.

T E A R O R C U T O N T H E D OT T E D L I N E

CROSSWORD PUZZLE ACROSS 1

3.

2

6. The city where Foundry’s headquarters is located.

8.

A Foundry senior living business called ______ ________ Senior Living. (two words)

9.

The typical process of building the sides of an industrial building is: ____ wall

3

4

5

An asset type where people typically work at desks from 9 to 5.

11. A Foundry service line that provides efficient and effective operations, institutional quality financial management, and creating next-level tenant experiences. (two words)

6

7

13. A vital role critical to the success of our property management team.

16. A phrase that is often displayed in Foundry’s neon signs. (two words)

8 9

10 11

17. An asset type that is typically used for distribution or logistics facilities.

18. A person in a producer role that handles transactions with our clients.

DOWN

12

13

14

1.

CEO Paul ____

2.

Name of Foundry’s Charlotte Office Building (two words)

4.

The name of a regular email that comes from Nick McKinney that always starts with “Happy ____ _____ _____” (three words)

5.

A phrase often used when associates volunteer and was featured on the back of a Serve Week shirt. (two words)

6.

The name of the historic campus where Foundry’s first Dallas office was located which is owned by real estate mogul Harlan Crow. (two words)

7.

Foundry’s labor and analytics division name: ______ Advisors

15

16

17

10. One week out of the year where all associates are encouraged to volunteer with their office. (two words)

18

12. The name of Foundry’s digital marketing agency that was acquired in 2023.

14. Matt ______ who runs our religious, education and non-profit team, also known for his contagious laugh!

15. The main sans serif typeface/font that is used in the Foundry brand.

WORD SCRAMBLE

EELOPP

_______________________

OUSPEPR

_______________________

RRENCEFMAPO

_______________________

TONARLAIEGEN

_______________________

LRAPNSEO

_______________________

NDLAORO

_______________________

C N I C N TA U G O

_______________________

Word Scramble Solution: 1. People, 2. Purpose, 3. Performance, 4. Generational, 5. Personal, 6. Orlando, 7. Accounting

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Crossword Puzzle Solution: Across: 3. Office, 8. Spring Arbor, 9. Tilt, 11. Property Management, 13. Engineer, 16. It’s Personal, 17. Industrial, 18. Broker Down: 1. Ellis, 2. The Line, 4. Front Porch Friday, 5. Serve Others, 6. Old Parkland, 7. Maxis, 10. Serve Week, 12. hellojenny, 14. Messier, 15. Futura

ISSUE

FOUNDRY STARTED A PODCAST.

THE PRE GAME

L AU R E N L E E T U N , D I R E C TO R O F P R , N I C K M C K I N N E Y, C S O PAU L E L L I S , C E O

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The effort, intentionality, and dedication to internal team members really drives it home that we are more than just output.

Rayanne Charles, D&I, Orlando, FL

Check out more stories like Rayanne’s on our company Instagram page.

@foundrycommercial