Foundry United Issue 13

F O U N D RY F O S T E RS A C U LT U R E O F E M PAT H Y A N D COLLECTIVE R E S P O N S I B I L I T Y.

SERVING

ONE ANOTHER ELEVATING SERVICE:

THE CLIENT CENTRIC APPROACH CREATIVE SOLUTIONS

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ISSUE 13

VIA PROPERTY CONVERSIONS

( F R O N T C OV E R ) C H E RY L J AC KS O N A N D M I C H E L L E S C OT T S E RV I N G I N D A L L AS , T X

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A MESSAGE FROM PAUL ELLIS In 2015, we transitioned the company out of CNL, welcomed a new capital partner, rebranded as Foundry Commercial, and expanded with new partners in Charlotte and Raleigh. Facing all these major milestones in one year was nothing short of exhausting, nonetheless, it was an exciting time for Foundry.

As a part of our brand launch, we took the opportunity to celebrate this next chapter in our company by giving back. The experience, documented through video, unexpectedly became a profound journey of connection and gratitude. We called it Serve Week.

Our entire business is about service, whether you acknowledge it or not. I don’t think I am overstating this, but in some sense, as we were launching this new platform, in Serve Week we found ourselves.

I don’t think it is coincidence either that our tag line “It’s Personal” came later that same year. During Serve Week, we see daily examples of service at the highest levels by organizations facing very challenging environments.

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( 2) M A R K S COT T - J A X A N D J . PAU L R E Y N O L D S - O R L ( 3) K E E LY H I N E S - C LT ( 4) R A M ATO U A KU E A N D E M I LY M OV I D A - O R L ( 5) J O R D A N E L L I S - N S H A N D PAU L E L L I S - O R L

As Mahatma Gandhi aptly said, “The best way to find yourself is to lose yourself in the service of others.” Foundry’s Serve Week is always a time for introspection, having fun, and revealing the essence of our business as rooted in service.

This annual endeavor is a wonderful reminder of the culture that we work so hard to foster the whole year long – one of sincerity, gratitude, and joy.

What we do matters. How we treat others matters. Our service in each of our markets during Serve Week or during a random weekend in September matters. Our service and honesty with each other are critical.

Whether 2024’s “Serve Week: The Ocho” was your first or your eighth with us, I hope you took a moment to reflect on how service is a part of our purpose and identity.

Service to others is a privilege. Being able to dedicate a week to serving our communities is something for which we should all be grateful.

Let’s keep it going far beyond this one week of the year.

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FOUNDRY UNITED: ISSUE 13, SUMMER 2024 EDITION Through many different capacities, Foundry Commercial strives to keep the pillar of serving others at the center of what we do. From serving clients to serving one another, individually and collectively, we recognize that how we choose to serve is a way we can embody the Foundry credo, because It’s Personal.

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(FROM LEFT) AU ST I N M A D D U X , R AYA N N E C H A R L E S , A N D E M I LY A LO N S O

S E RV I N G T H E C L I E N T Keeping the clients we serve at the forefront, Foundry is constantly adding to and adapting the platform to elevate our offerings to them.

S E RV I C E A L L T H E WAY A R O U N D With renovations underway, Olde Raleigh Village stands as a unique property that touches almost every service line offered throughout the platform.

(FROM LEFT) K AT R I N A S C H R O E P F E R , R O SS D I AC H E N KO , M A R G I E B OW L E S , J U L I E AU G U ST Y N , BRET T JOHNSON, A N D B L A I R D AV E N P O RT P. 6

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C R E AT I V E S O L U T I O N S VIA PROPERTY CONVERSIONS Foundry’s Development & Investments team is finding creative ways to respond to the shifting office market, tapping into industrial as a solution.

C U LT U R E Take a look at some of the major milestones Foundry associates have experienced as well as fun office activities and holidays since our last issue.

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S E RV I N G O N E A N O T H E R Relationships are at the heart of how we operate and through that focus, mentorship has become a vital piece of the company.

S E RV E W E E K , T H E O C H O For the eighth year, associates from across the platform came together to serve incredible non-profit organizations in every community where Foundry has a presence.

M AT T M E SS I E R A N D B R O N I CA G LOV E R D U R I N G C H A R LOT T E S E RV E D AY AT G R E AT E R ENRICHMENT PROGRAM

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(FROM LEFT) NICK MAHAN W I T H T H E CO N L A N CO M PA N Y, A L E X R O SA R I O ( F C ), A N D J I M T R AY N O R ( F C ) AT T H E H O R I ZO N L A N D I N G GROUNDBREAKING IN D A L L AS , T X .

26 F O U N D RY A S S O C I AT E S I N S E RV I C E The choice to serve our country is one that a handful of Foundry associates have made. To honor their service, we sat down with a few of them to learn about their experiences.

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We’ve all been there. We tell someone we work in real estate, and their eyes glaze over. When a friend or family member asks to learn more, explaining our varied roles in the commercial real estate industry can be a challenge. In this ‘Foundry Perspectives’ section, we go beyond the traditional company stats to take a behind-the-scenes peek at the diverse roles that keep our organization running smoothly.

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FOUNDRY PERSPECTIVES: JOB DESCRIPTION

Family members and friends believe as a building engineer that I design commercial buildings. I then correct them by saying “that is an architect job which I am not.

I essentially fix the different systems that make up a building. So jack of all trades.”

The way my brother describes my job, he makes me sound like I am working in a basement with an abacus and paper obsessing over whether people paid their rent or not.

CHELSEA GRAHAM P R O P E RT Y ACCO U N TA N T I I / O R L

I think some of my friends think I work at a church or denomination.

CARLIN BEEKMAN S E N I O R ASS O C I AT E / O R L

NICK SANTITORO L E A D E N G I N E E R / C LT

My friend said that I collect dirt for my job. We handed out jars of dirt from the site at a couple of our groundbreakings, and I guess that stood out to her.

M A D I D ’O S T U N I M A R K E T I N G ASS O C I AT E / N S H

When my son was around 10, my wife Suzanne was on him about completing his math homework. He asked why he needed to do all these ‘stupid’ math problems because he would probably never use this stuff later in life. My wife told him he would need it when he grows up to get a good job and take care of his family. He said, ‘I don’t need that, I’m just going to do what Dad does.’ She said, “Oh yeah, what do you think that is? He said, “He travels around and just meets people and gets gifts.”

TO M C R OT E AU - M A X I S A DV I S O R S S E N I O R M A N AG I N G D I R E C TO R / AT L

My husband and child think I go on vacations all the time.

TAY LO R R OW A N S E N I O R M A N AG E R , E V E N T O P E R AT I O N S / C LT

My neighbors think I sell houses and can advise on their own.

J E SS I C A D ’A N N U N Z I O M A X I S A DV I S O R S E X E C U T I V E V I C E P R E S I D E N T / AT L

C L I E N T- C E N T R I C

Elevating Service: the ClientCentric P. 1 2

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SERVING THE CLIENT

ANDREW MAXWELL, A N D LU C AS M C I N TO S H W I T H I N V E S TM E N T A DV I S O RY G R O U P P H OTO G R A P H Y BY: HANNAH FEITEN

Foundry investment SERVING THE CLIENT

We’re thrilled to bring on Austin in this new capacity to launch Foundry’s investment management business within our overall platform.

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P RYS E E L A M C H I E F I N V E STM E N T O F F I C E R , A N D P R E S I D E N T, D E V E LO P M E N T & I N V E STM E N TS

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FOUNDRY INVESTMENT MANAGEMENT PIONEERING NEW FRONTIERS Late last year, Foundry Commercial made waves by introducing its investment management business line, a testament to its forward-thinking approach.

Spearheading this initiative is Executive Managing Director Austin Maddux, whose illustrious tenure at American Realty Advisors lends invaluable expertise to the venture. Prior to joining Foundry, Maddux led ARA’s $8.5 billion core fund, showcasing a track record of success in the industry.

“We’re thrilled to bring on Austin in this new capacity to launch Foundry’s investment management business within our overall platform,” said Pryse Elam, Chief Investment Officer and President of Development & Investments for Foundry Commercial. “To support our growth plans, Austin will focus on enhancing value for Foundry’s investor clients, customers, associates, and the communities in which we operate by building our investment management business in a complementary fashion to our current joint venture acquisition and development, and third-party property services businesses.”

As Foundry expands its investment portfolio, synergies emerge, bolstering its services business and propelling mutual growth. With a keen eye for strategic opportunities, Foundry Investment Management is poised to navigate the complexities of the market, delivering exceptional value to clients and stakeholders alike.

AUSTIN MADDUX, EXECUTIVE M A N AG I N G D I R E C TO R A N D D AV I D K E R N , P R I N C I PA L

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Investment CAPITAL MARKETS NAVIGATING MARKET DYNAMICS Last year, economic inconsistencies, influenced by the Federal Reserve’s tightening measures, plagued real estate markets. Despite a generally strong economy, the situation was challenging, and ripple effects were felt through every facet of Foundry’s operations. As 2024 kicked off, regions like the Southeast and Texas have a demonstrated ability to outperform national averages, and thus, Foundry remains optimistic in advising clients toward achieving their real estate investment goals.

Foundry’s Investment Advisory Group (IAG) is keeping a close watch on several key trends this year, including looming loan maturities leading to more distressed property sales, lenders attempting to exit troubled loan positions through note sales, mission-critical properties like data centers, labs, and medical properties becoming more mainstream, and the bid-ask spread starting to narrow.

Navigating the turbulent waters of capital markets requires finesse, a challenge that Foundry embraces with gusto. The IAG group’s addition of Beth Lambert, a

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powerhouse in the field, underscores Foundry’s commitment to client-centric solutions. Lambert’s experience spans all facets of debt origination and encompasses a diverse array of debt products. Her skill set extends to raising equity in various capacities, assisting clients with strategic projects and asset recapitalizations.

As market dynamics evolve, Lambert’s expertise proves invaluable, offering real-time solutions tailored to client needs. Her appointment as Executive Vice President solidifies Foundry’s position as a leader in capital markets, poised to capitalize on emerging opportunities and deliver optimal outcomes for clients nationwide.

Coupled with IAG’s market expertise is Foundry’s Debt & Structured Finance (DSF) group, which provides depth of experience in all real estate asset classes with nationwide execution and has deep institutional relationships that span beyond debt markets, providing a level of knowledge unparalleled in mortgage banking. The DSF group’s benefit to Foundry clients is three-fold: to understand client objectives and develop appropriate financing strategies; to produce institutionalquality financing memorandums; and to activate longstanding capital relationships that provide optimal financing solutions.

In recent months, DSF has had success in sourcing debt for both existing and to-be-built properties. Navigating the current capital markets climate is significantly more challenging than 12 months ago, which has allowed Foundry DSF to set themselves apart from competition by helping clients to think through more complicated transactions and leverage deep market intelligence from longstanding relationships to problem solve for clients.

They are finding there is capital available for the right transactions, sponsors, and expectations.

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Coupled with IAG’s market expertise is Foundry’s Debt & Structured Finance (DSF) group, which provides depth of experience in all real estate asset classes.

debt & structured finance

A N D R E W M A X W E L L , E M I LY H O LT, R I C K H E LTO N , A L LY L A N A H A N , A N D LU C AS M C I N TO S H W I T H I N V E S TM E N T A DV I S O RY G R O U P P H OTO G R A P H Y BY: HANNAH FEITEN

land advisory MARK LINDENBAUM

F O ST E R I N G ST R AT E G I C G R OW T H Amidst a shifting landscape, Foundry’s strategic vision remains unwavering, as evidenced by its recent hire, Mark Lindenbaum. Tasked with leading the Atlanta office’s Land Advisory group, Lindenbaum’s appointment augments Foundry’s capital markets prowess. His extensive experience in the commercial real estate space, spanning over 20 years, positions him as a trusted advisor in land advisory services.

Lindenbaum’s hiring comes on the heels of several additional wins and key hires within Foundry’s Land Services platform, which has accumulated over $3 billion in transactions, 400+ total land deals, and 13,800+ total acres across North America. With a focus on innovation and client-centric solutions, Foundry remains at the forefront of land advisory services, driving strategic growth and maximizing value for clients.

REAL ESTATE SOLUTIONS: D R I V I N G I N N OVAT I O N In a major success for Foundry Commercial’s Real Estate Solutions group, TruGreen® recently selected Foundry to partner with them to provide an enterprise approach to maximizing real estate P. 1 8

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operations and cost control. One of the main reasons Foundry won the pitch and unseated a larger competitor was due to the analytics derived from Foundry’s interactive data visualization software, which the company has been using to court more and more clients and customers as an example of an innovative approach and competitive advantage. Through this proprietary software, Foundry offers unparalleled insights, empowering clients to navigate complex real estate decisions with confidence.

TruGreen’s decision to partner with Foundry underscores the company’s reputation for excellence and innovation in real estate solutions. By harnessing the power of advanced analytics and industry expertise, Foundry delivers tailored strategies to drive growth and maximize returns for clients across diverse sectors.

Foundry’s focus on serving clients across their broad spectrum of needs is a testament to the company’s unwavering commitment to excellence. From land advisory to real estate solutions, from capital markets advisory to investment management, and just about every area in between, each facet of Foundry’s operations contributes to a full spectrum offering, tailored to meet the unique needs of clients. As the company continues to attract entrepreneurial talent and visionary clients, its position as an industry leader remains unassailable. With a steadfast focus on innovation and client-centricity, Foundry charts a course towards continued success in the ever-evolving world of commercial real estate.

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One of the main reasons Foundry won the TruGreen pitch and unseated a larger competitor was due to the analytics derived from Foundry’s interactive data visualization software.

(FROM LEFT) ZANE HENDERSON (FC), H AY L E Y E D WA R D S ( F C ) , N I C K M C K I N N E Y ( F C ) , V I N C E D U N AVA N T ( F C ) , J E R E MY B E N K I N (TRUGREEN), STEPHANIE COFFIELD (TRUGREEN), B I L LY WAS SM E R ( T R U G R E E N ) , HOBBS DEWIT T (TRUGREEN), JOHN KELLER (FC), AND J I M H AY D E N ( F C )

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S E R V I C E A L L T H E W AY A R O U N D

its 40-year history within the community, I knew this project was going to not only be fun and creative but also come with mixed emotions from the people in the neighborhood. We had to make sure to respect the culture and community that was built by Olde Raleigh Village and keep logistics organized and communication clear. Detailed scheduling and working around store hours was crucial to providing a win-win situation for the tenants, the general contractor, and the owner. I was honored to be a part of this project and look forward to delivering a product that everyone in the community will be proud of and enjoy,” Johnson said.

JULIE AUGUSTYN, R O SS D I AC H E N KO , A N D K AT R I N A S C H R O E P F E R

With retailers ranging from locally owned restaurants to national brands, the center has seen steady growth and patronage since its inception. The diverse array of offerings caters to the varied tastes and preferences of the community, fostering a vibrant atmosphere that resonates with residents and visitors alike.

In 2021, the Foundry retail team won a pitch for the leasing and management of a 95,000-squarefoot neighborhood shopping center nestled in Raleigh, North Carolina. The opportunity, spearheaded by since-retired Susan McGuire, married the unique suite of Foundry’s services in Raleigh, bringing in not only its brokerage and property management capabilities but also its creative and consumer marketing team. Now, three years later, the asset is stepping into a new era and undergoing a renovation led by Foundry Raleigh’s project management team, officially tapping into Raleigh’s full playbook of services.

Olde Raleigh Village, an Invesco property, is a Harris Teeter-anchored, staple shopping center in the up-and-coming Blue Ridge Corridor.

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In 2022, the property saw its first refresh when Foundry Commercial’s creative team rebranded the center. Drawing inspiration from the center’s legacy and neighborhood feel, the team infused the brand with vibrancy and vitality, capturing the essence of its nostalgic charm. The property is now undergoing a full renovation to keep that charm while bringing the center into a new age. From a full center repaint to outdoor rooms, three murals, and new landscaping, Olde Raleigh Village is set to emerge as a dynamic destination for all who visit.

At the head of this refresh is Brett Johnson, Project Manager for Foundry Commercial. Brett has overseen the transformation, working hand-in-hand with contractors and navigating the complexities of construction with precision. Despite the hustle and bustle of the center, Brett’s careful planning and work have kept disruptions to a minimum. His commitment to quality has set a high standard, making a significant impact on the community.

“Learning more about Olde Raleigh Village and

Ross Diachenko and Julie Augustyn, Senior Vice Presidents, have played a pivotal role in guiding the evolution of Olde Raleigh Village. Through strategic employment of renderings in marketing materials such as flyers and eblasts, the brokerage team, along with Senior Marketing Associate Katrina Schroepfer, consistently positions the center at the forefront of the retail community. As new renovations take shape, their mission has expanded beyond merely filling vacancies to curating a vibrant tenant mix that truly connects with the community. With a sharp focus on market trends and consumer preferences, the team is diligently enhancing the merchandising plan to ensure a rich variety and upscale offerings for patrons.

“For the past few years, Olde Raleigh Village has maintained full occupancy, leaving limited room to enact our vision of enhancing the tenant mix. With multiple marquee spaces within the center coming available at the end of the year, we are very excited for the opportunity to execute on our plan of attracting best in class retailers and restaurants, ushering in a new era of tenants for this legacy asset,” Diachenko said.

Along with brokerage, Foundry’s property management team has been at the helm of the Olde Raleigh Village ship. If brokerage is the captain looking at the map of where the center is heading next, then property management serves as the sails keeping the ship afloat. Margie Bowles, Senior Real Estate Manager, and Aly Becker, Assistant Real Estate Manager, have showcased their abilities in managing Olde Raleigh Village with a seamless blend of organization and proactive strategies. Their skill set has kept the team organized throughout the renovations and connected the dots on vendor relations, tenant communication, and budget management, maintaining a high standard of quality through every interaction.

Bowles has also been a key player in growing the relationship with Invesco. Leading the biweekly touch points and keeping communication open between the teams has been a significant contributor to the project’s success. “Olde Raleigh Village has been a fun asset to manage for a few reasons. The Invesco Asset Management Team is extremely approachable, open and astute when ideas, obstacles or relative questions about the asset are presented.

Their processes are incredibly refined which

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makes lease execution, reporting, and budgeting seamless for the deliverables. They are very supportive to each of us within our respective line of service that interfaces with them,” she remarked.

A unique facet of Olde Raleigh Village’s lineup is its use of Foundry’s Consumer Marketing program. After the center’s rebranding in 2022, Foundry’s Consumer Marketing team was enlisted to carry out the new look through social media management, center marketing, and community event coordination. The new social pages have seen immense growth over the past three years, resulting in high engagement and reach. To help propel these pages, Blair Davenport, Senior Consumer Marketing Associate, launched a variety of social campaigns and free community events to bring people to the center and further establish it as a neighborhood hub. From Puppy Yoga to Easter Photobooths and partnering with local hospital, UNC REX, for holiday food donations, the center has become a recognized location for families and nearby residents to enjoy.

At Foundry, the integration of a complete suite of services within a single project is not just a convenience; it’s a strategic advantage. Olde Raleigh Village showcases how this approach enhances the overall experience and sets Foundry apart in the competitive landscape. By seamlessly blending the project’s future aspirations with a respectful nod to its past, Foundry has created a space that resonates deeply with residents and visitors alike. This dedication to going above and beyond truly sets Foundry apart, making Olde Raleigh Village not just one project, but a testament to the transformative power of service all the way around.

At Foundry, the integration of a complete suite of services within a single project is not just a convenience; it’s a strategic advantage.

R O OT E D I N H I S TO RY, B LO O M I N G I N H A R M O N Y M U R A L D E S I G N E D BY LO C A L A RT I S T, GA B E E N G - G O E T Z

B R E T T J O H N S O N , M A R G I E B OW L E S , A N D B L A I R D AV E N P O RT

SERVING THE NEED:

CREATIVE SOLUTIONS VIA PROPERTY CONVERSIONS IN THE WORLD OF C O M M E R C I A L R E A L E S TAT E , C O N V E R S I O N S H AV E FOLLOWED COVID. The post-pandemic environment has painted a picture with a consistent presence of remote and hybrid work, causing the office market to rapidly deteriorate. For the industrial asset class, in contrast, times have been good. The industrial markets saw a spike during the global pandemic as e-commerce orders soared, and that demand has remained elevated over pre-COVID levels ever since. For Foundry Commercial, demand increase in warehouse and logistics spaces has provided an opportunity to capitalize.

Over its ten-year history, Foundry’s Development & Investments (D&I) team has sponsored 93 investment opportunities with a total investment value of $4.3 billion. Foundry is currently developing 10.2 million square feet of industrial space in 24 projects across 11 markets at a total investment value of $1.7 billion. Put all that expertise together in the space of asset conversions, and Foundry has had a clear leg-up.

HORIZON LANDING IN DALLAS Jim Traynor, Managing Director of Development & Investments based in Foundry’s Dallas office, is the first D&I deal principal in the platform to oversee an office-to-industrial development project.

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In Traynor’s home market of Dallas, Texas, Horizon Landing has been a prime example of the success found in industrial conversions. During the end of 2023, Foundry closed on the 287,000 square foot office building in Irving, Texas and has since demolished the existing structure. The team plans to build 337,000 square feet of Class-A industrial warehouses with an additional 2.4 acres of outside storage which could accommodate 70 trailer parking stalls.

Conversions of any kind obviously don’t come without hurdles.

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When it comes to industrial conversions, developers can often face zoning and re-zoning issues, as well as pushback from surrounding residents. But for Horizon Landing, none of that has been a challenge.

“The reason we [Foundry’s D&I platform] liked Horizon Landing so much is because the office building was vacant, and we could go ahead and develop industrial right away,” Traynor said. “There were no zoning changes required, so we could move our industrial development forward with no approval constraints.”

Another locational advantage to Horizon Landing is that because of its proximity to DFW International Airport, there are no residential areas nearby. In a spaceconstrained market with little to no Class-A industrial availability that close to the airport, a brand-new logistics center just made sense.

Specifically in the Airport North submarket of Dallas, conversions are a doorway to opportunity. Since most offices in the submarket were serving as call centers – a need that dissipated when it became clear many of

those employees could work from home – the interest from office users to lease space in the area has sharply declined in the past few years.

“KNOWING THERE WAS DEMAND FOR INDUSTRIAL IN AIRPORT NORTH, WE STARTED GOING BACK THROUGH THE SUBMARKET LOOKING FOR OFFICE BUILDINGS THAT COULD BE TORN DOWN, TREATED THEM LIKE LAND SITES, AND VIEWED THEM AS POTENTIAL INDUSTRIAL REDEVELOPMENTS We’re basically doing the same process we would do for any industrial development on land. With this strategy, we’re now able to access a location that we couldn’t access before and deliver an in-demand product in the best part of Dallas,” said Traynor.

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3 8 0 0 S O U T H C O N G R E S S AV E N U E / SOUTH FLORIDA In a similar transaction, Foundry’s D&I team saw an opportunity to convert a vacant medical office building owned by Baptist Health into an industrial property.

In partnership with Wheelock Street Capital, Foundry purchased the 126,000-square-foot office and warehouse building in Boynton Beach with plans to demolish the existing structure to make way for 457,000 square feet of Class-A industrial warehouses at Egret Point Logistics Center.

TED ELAM SOUTH FLORIDA

P R I N C I PA L , D & I

“DURING A TIME WHEN INDUSTRIAL CONTINUES TO BE IN DEMAND WITH LITTLE SUPPLY, IT IS EXCITING TO PARTNER WITH WHEELOCK STREET ON EGRET POINT LOGISTICS CENTER,” CENTER,” said Ted Elam, Principal at Foundry Commercial. “Through this project, we are not only creating modern warehouse facilities for users, but we are also removing an older structure that has outlived its purpose, paving the way for a brighter, more efficient future.”

Located on Interstate 95 in Palm Beach County, Egret Point Logistics Center is also close

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to the Port of Palm Beach, Palm Beach International Airport, and Fort Lauderdale–Hollywood International Airport. The 30-acre property will eventually house two rear-load, Class-A industrial warehouses featuring 180’ truck courts, 32’ clear heights, ample car parking, and ESFR sprinkler systems. Construction on the new facilities is expected to be complete in the spring of 2025.

THE TREND CONTINUES If COVID reminded the commercial real estate segment of anything, it’s that markets and trends can change on a dime. But as far as this trend goes, Foundry development professionals predict the office-to-industrial conversion is here to stay.

Among other conversions Foundry has already worked on, there have been landfill-to-industrial conversions as well as cemetery property-to-industrial conversions. The company is looking at opportunities that include marina-to-industrial, church-to-industrial, and flea market-to-industrial conversions, among other office-toindustrial conversions.

Properties being converted into industrial buildings are typically located in markets constrained by limited land and warehouse space. One of the primary factors driving these industrial conversions is the strategic repurposing of underperforming assets from other sectors, such as retail or office spaces. This approach not only optimizes existing real estate but also caters to the high demand for warehouse space, which many markets continue to experience.

Consequently, developers and investors have increasingly opted for conversion projects, finding them a practical solution to meet the needs of the industrial sector. By transforming these properties, they can address the space shortages and capitalize on the steady demand, ensuring better utilization of assets while meeting market needs effectively.

Reflecting on the Horizon Landing project, Traynor noted, that given the mechanics of the deal and the momentum others are seeing across the country, that he wouldn’t be surprised if Foundry ended 2024 with multiple conversion projects in the pipeline.

However, he is realistic about some of the hurdles that projects of this nature will likely face. With the constraints that often come up surrounding zoning on these projects plus navigating in-place tenants and locating a property with good land value, he noted it will take time for developers to get many of these projects going at once. But no matter the speed to development, standing next to the outlook of the office market, he believes office conversions into industrial and other asset classes such as multifamily will continue on a stable trajectory.

“We’re intrigued about the prospect office-to-industrial brings.

It’s an exciting opportunity to open up areas that we previously thought were full,” Traynor said. “I think this is something we will continue to see, as fast as we can find suitable properties.”

“These office-to-industrial conversions have the double benefit of eliminating what is now obsolete office space while adding much needed modern distribution space in infill locations,” added Pryse Elam, Chief Investment Officer for Foundry. “We are seeking out these opportunities in every market across the Southeast and Texas.”

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FOUNDRY ASSOCIATES IN SERVICE For a handful of Foundry Commercial associates, service is a word with a particularly deep and impactful meaning. Service to our country is one of the greatest ways an individual can choose to serve, and we wanted to take time to honor some of our own at Foundry who have made that choice.

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We sat down with: Jesse Drake (Tampa, Industrial Broker), Caitlin Quinlan (Tampa, Senior Industrial Broker), Rhett Batanides (Charlotte, Vice President, Retail), Michael Cain (Charlotte, Senior Development Manager), Don Hamilton (Jacksonville, Senior Real Estate Project Manager), and Malcolm Lee (Dallas, Engineer) to learn a little bit about their experiences in the military.

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Q: WHAT LED TO YOUR DECISION TO JOIN THE MILITARY? Jesse Drake: (Chief Warrant Officer 3, Army Special Forces, 2002-2023): I was a junior in college when 9/11 happened, and I felt a sense of duty to serve our country. I talked to a recruiter after 9/11 and less than a year after that, I joined.

Caitlin Quinlan: (Senior Airman, Air Force, 2010-2014): I wasn’t sure what I wanted to do after high school. My brother had joined the Marine Corps and when he came home and talked about his experience, it inspired me to join. The military really gave me the direction I needed.

After four years, I went off to college at the University of Tampa.

Rhett Batanides: (Captain, Aircraft Commander, Air Force, 2004-2013): 9/11.

After 9/11 happened, I wanted to do my part to serve our country.

Michael Cain: (Major, Air Force National Guard, 1997-2019): I always thought I’d serve in some capacity; my whole family has military background. My brothers and I were raised to be patriotic. I am the youngest of five, and my parents couldn’t afford to send all five of us to college. So, for me, it was a sense of patriotism and the educational benefits.

Don Hamilton: (Marines, 1986-1994): The reason I joined the military was because of a sense of pride in my country. I felt a desire to give back to the United States, and I wanted to do my part to serve and protect it.

Malcolm Lee: (Specialist, Army, 19871990): After finishing high school, I made the decision to join the Army, seeking to embrace the chance to explore the world.

I wanted to travel and experience different cultures and places.

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Q: WHAT SKILLS DID YOU LEARN OR HONE IN THE MILITARY THAT TRANSFER OVER TO YOUR ROLE AT FOUNDRY OR TO OTHER AREAS OF YOUR LIFE? Q: IF YOU'RE ABLE TO SHARE, WERE YOU ASSIGNED TO ANY MISSIONS? IF SO, WHAT DID THOSE ENTAIL? RB: I did Spec Ops in Afghanistan, and I went to Central America and did work in Honduras. I also did airshows with the Thunder Birds in Vegas. With the Thunder Birds, we went all over the country doing shows.

MC: I was an Air Force Civil Engineer, and our mission stateside and deployed is to maintain bases’ infrastructure and runways. Over my five deployments, I was part of Operation Southern Watch, Operation Enduring Freedom, and Operation Inherent Resolve. In 2011, I deployed to Afghanistan, and we supported forward operating bases for the Army as part of Enduring Freedom. 2016 was my last deployment in Kuwait as part of Inherent Resolve.

JD: I was a Green Beret; I got assigned to the 7th Special Forces Group. I did 14 deployments in the Middle East, Central America, and South America.

JD: One of the best skills I honed in the military is how to plan and execute a strategy. From fairly easy problems to extremely complex, I approach them in a similar manner. I think the process I learned in the military helps me quickly assess a problem, analyze critical aspects, and get to the best solution. I think this skill is incredibly valuable in all facets of my life today.

MC: Civil engineering squadrons have every trade to build and construct anything in the civilian world. I enlisted to learn the HVAC trade while attending college for civil engineering and later commissioned in the same squadron.

What I do today as a Development Manager goes hand-in-hand with my service. It all translated seamlessly.

CQ: I learned a lot about structure and discipline. It really taught me that time is valuable. It taught me about holding yourself accountable while also realizing you are on a team that is working together towards a mission, and the mission is what matters. We all want deals and success. It’s about working together and doing what you said you’d do.

RB: I learned a lot about task management and the ability to compartmentalize effectively. In the Air Force, I had to deal with a lot of moving parts. It taught me a lot about the organizational side of things.

DH: Leadership.

CQ: I was a weather forecaster for pilots in the Air Force, Army, and DOD. We protected assets from East Texas up to North Carolina.

ML: I served my entire tour of three-and-a-half years in Germany. I was discharged honorably in July of ’90. But after being out 5 months, I was summoned back to active duty because of the war in Iraq. The first Desert Storm. I never made it to the desert but instead was sent to Fort Lewis, Washington as artillery support.

Q: WHAT WAS THE BIGGEST LESSON YOU LEARNED DURING YOUR TIME SPENT SERVING IN THE MILITARY? RB: Resiliency. Things are never as easy as you hope they are. The ability to bounce back is important, and the character you display during hard times is key in many aspects of life. Especially in CRE, you get told ‘no’ a lot. You have to be able to build an ability to bounce back and go after the next one.

MC: I’m sure I learned a lot of lessons, but at my retirement ceremony, all I really felt was, I’m thankful. I would say every life lesson I’ve learned, I learned in the military. From my education, to growing a family – I’m thankful for my time in the military. Things like work ethic and paying attention to detail are truly traits “learned” compliments of the government.

JD: I learned the importance and power of a strong team. I have worked with some incredible individuals, but no matter how intelligent or capable someone is, a well-built, managed, and focused team has so much more capacity to accomplish great things than any one person.

C Q : I really grew up in the military. It taught me that life isn’t one big party, and the experience really whipped me into shape.

I learned a lot about accountability. The whole “if you’re early, you’re late” mentality.

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Q: ANYTHING ELSE YOU WANT TO ADD OR SAY THAT WE MIGHT ’ VE MISSED? C Q : I would just say that it was a great experience, one of my best decisions. The military really sets you up for success, brings you amazing friendships, and so many amazing opportunities come from it, like all my college being paid for by the Air Force.

Q: CAN YOU TELL US ABOUT ANY ACCOLADES OR ACHIEVEMENTS YOU EARNED WHILE IN THE MILITARY OR ANY MILITARY ACHIEVEMENTS YOU’RE MOST PROUD OF?

To these six associates and any others who have served in the military, thank you.

We are grateful for the brave choices you have made and for the great team members you are. Foundry is proud to call you a part of our family.

D H : I am proud of the fact that I was Sergeant for various training programs throughout my time in the Marines.

C Q : I became a supervisor as an E3 and that doesn’t typically happen. I managed a team of six. I’m really proud of the fact that we protected 6 billion dollars of assets throughout the Southeast.

M C : Great question and it’s tough to answer.

I never really thought of that until you asked. I never considered those as something to be overly proud of, or something that I specifically earned.

I volunteered to enlist and serve, and did it with a sense of pride, courage, honor, and duty, never expecting anything special for it. Collectively, I’m proud and truly thankful for my time served in the military. Every great thing that’s happened in my life can be tied to me raising my right hand and taking the oath to serve.

J D : Getting through the Army Special Forces course to receive the Green Beret is something I will never forget. Also, we give plaques and small gifts to individuals when they leave each unit, and those personalized gifts I have received over the years mean a lot to me.

R B : I am most proud of the work I did in Afghanistan. We were taking care of people in combat, so we’d often fly back as a hospital. As a pilot, in those situations, you’re doing your best in the flying world while also trying to be as careful as possible because people are getting operated on during flight. We saved a lot of lives, and I’m really proud of our high success rate.

R B : I think it’s important to highlight care for veterans. It’s important to continue to help people after their service. I have been President of a homeless shelter for veterans, with an organization called *Family Forum, for the last ten years. It is a 2-year program, with a 97% success rate of indefinitely ending homelessness. Within the program, participants are drug tested, get help getting jobs and opening bank accounts, and we have financial classes. We have strict guidelines, but the ultimate goal is to get veterans the help they need. Family Forum is a proven small example of how homeless care can work. One of my favorite things we do is a turkey fry around Thanksgiving. Every year, I fry around 7-9 turkeys for the guys.

*Anyone interested in more information about Family Forum in Charlotte can contact Rhett directly; Rhett.Batanides@ foundrycommercial. com, 704.737.8164

R H E T T B ATA N I D E S (MIDDLE) B AG R A M A I R B AS E , A F G H A N I STA N 774 E X P E D I T I O N A RY TAC T I CA L A I R L I F T SQUADRON

For anyone who has been in the workforce for a significant period of time, the notion that mentor-mentee relationships are at the core of an organization’s success is neither new nor surprising. Whether stumbled upon serendipitously or sought through formal channels, the presence of guiding figures in a professional journey can be transformative.

serving one another According to Forbes, a staggering 100% of U.S. Fortune 50 companies have mentoring programs. Mentoring has been widely acknowledged as an effective tool for companies to cultivate their talent pool, channeling internal business insights while simultaneously boosting job satisfaction. So, whether a brand-new professional or someone with years of experience, the support of a mentor – and conversely, a mentee – can serve as the catalyst for growth, both personal and professional.

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BLESSINGS ABOUND NICK MCKINNEY & CARLIN BEEKMAN

In the ever-evolving commercial real estate landscape, the relationship between Nick McKinney and Carlin Beekman goes far beyond the confines of real estate. Family friends long before Carlin joined Foundry, it’s a somewhat full-circle moment now that Nick mentors Carlin in her role as Senior Brokerage Associate within Foundry’s Mission Property Group. While his daughters were in high school, Carlin served as a mentor to each of them, so it’s somewhat serendipitous that Nick finds himself in the position to reciprocate that mentorship opportunity currently.

“I feel incredibly fortunate to have the McKinney family in my life. Being able to expand that connection by working on a team that Nick has significantly influenced is extremely meaningful to me,” Carlin shared.

“A couple of years ago, I decided to create my own ‘board of directors’ comprised of trusted individuals from my life. These are people I can rely on for important decisions, constructive criticism, and guidance on personal and professional growth. Nick, who knows me well and understands my role and company, was the perfect fit. I’m thankful for his support, thoughtful feedback, and encouragement,” she added.

As one of the original partners that launched Foundry, Nick was – at the time – in a similar role to the one Carlin holds today.

He was an associate broker in what would later be named the Mission Property Group, working closely with Matt Messier and his father, Richard Messier. He vividly remembers the lessons passed down by the elder Messier, some that were crystal clear in how they related to the business, and some that were – in retrospect – life lessons that he could tap into in the years ahead. And several decades later, Matt found himself in a similar position to help teach Carlin the ropes of the business. From

detailed prospecting strategies to navigating the softer side of working with churches, non-profits, and educational institutions, Nick and Carlin both learned the business from two of the best professionals to ever manage such a niche practice group.

( F R O M L E F T ) N I C K M C K I N N E Y, CA R L I N B E E K M A N , A N D M AT T M E SS I E R

“There is something really special about the deep trust developed between Nick and Matt from having worked together for so long, so I feel really blessed to be in a role where I am able to learn from them and be an extension of something they (alongside Richard Messier) have built.”

Fortunately, through the ups and downs of the commercial real estate marketplace, Nick and Carlin have had a strong relationship to lean upon. Their relationship exemplifies the essence of a true mentormentee partnership, one which cultivates opportunities for growth and celebrates all the wonderful aspects that come with learning from one another.

Nick, who knows me well and understands my role and company, was the perfect fit as a mentor. I’m thankful for Nick’s support, thoughtful feedback, and encouragement.

CARLIN BEEKMAN S E N I O R ASS O C I AT E , M I SS I O N P R O P E RT Y G R O U P

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M A R I A LO M B A R D I S P E A K I N G I N F R O N T O F M E N TO R , SA R A H G O D W I N , AT T H E 2 024 F O U N D RY P R O D U C E R S U M M I T

ANSWERING THE CALL SA R A H G O D W I N & M A R I A LO M B A R D I

Sarah Godwin and Maria Lombardi formally met at Foundry’s inaugural Engage women’s summit a few years ago, when – after hearing Maria share her experience of having a difficult time finding a female mentor in brokerage as she was getting ready to graduate with her M.S.R.E. – Sarah answered the call to serve in that capacity for Maria.

“While times are changing, the commercial real estate industry has traditionally been very male-dominated, and it can be challenging for young female brokers to find a sounding board in another woman in the field,” Sarah said. “Because she had put this call out in a public forum, I anticipated she would have had a groundswell of support already, so I told her she could feel free to put me in touch with some of her other friends from the program who might be looking for mentors. As it turns out, I was the first to offer, and the rest is history.”

“When I put out the ask at the Women’s Summit for a mentor, I never expected Sarah to raise her hand. She is such a powerhouse, and I was honestly intimated by her. So, when the opportunity presented itself, I jumped at the offer,” Maria added.

“She saw something in me that I didn’t see in myself at the time. Sarah brings such a unique and wise perspective to every conversation we have. She pushes me to speak up and be confident in myself while challenging me to think about my situations in a different light. She helps me make better, well-rounded decisions. Sarah has been an amazing sounding board for various experiences I have faced so far in CRE. I am so grateful for her time and dedication to mentoring me.”

Although the two specialize in different areas of brokerage – Sarah in land and Maria in the office asset class – they have found common ground in their shared experiences of navigating the ins and outs of the industry. From discussions about best practices in business development to the importance of maintaining work-life

balance, their bond has deepened over time as they meet regularly to exchange insights and strategies, and respect and truly value each other’s perspectives in shaping their professional journeys. As they continue to traverse the real estate terrain together, Sarah and Maria exemplify the transformative potential of mentorship rooted in authenticity and reciprocity.

SA R A H G O D W I N W I T H M A RY B E T H PA R I S AT T H E 2024 F O U N D RY PRODUCER SUMMIT

Sarah helps me make better, well-rounded decisions. She has been an amazing sounding board for various experiences.

MARIA LOMBARDI ASS O C I AT E , O F F I C E L E AS I N G

WOMEN ON A MISSION M E L I SSA A L E X A N D E R & C AS E Y F L A N N E RY

Melissa Alexander saw potential in Casey Flannery long before the two landed at Foundry in Nashville together. It was in 2016, when Melissa interviewed Casey for a marketing internship at her previous firm in Memphis, but Casey wasn’t able to work the required 40 hours weekly. Melissa already knew that she’d struck gold after meeting Casey and convinced the company to hire her for an administrative role to accommodate her need to work part-time. Around the time Melissa made the decision to move to Nashville, Casey was ready to dip her toe into brokerage, so the two stayed connected as they made their respective next moves.

“Melissa and I share a unique bond built on mutual support and professional growth. When I first ventured into the world of brokerage, she became my trusted confidante. I’d dial her number without hesitation whenever challenges seemed insurmountable, and her guidance always illuminated the path forward,” noted Casey, a Foundry Vice President who works alongside Melissa Alexander on the Nashville industrial team.

Likewise, as Melissa was facing her own challenges breaking into a new market in Nashville, she would give Casey a call to discuss obstacles she was hitting in her job search or business. “Her determination to secure employment in a competitive market was palpable,” Casey recalls. “And I became her sounding board, offering insights and encouragement along the way.”

Through the highs and lows, their relationship has blossomed amidst the shared pursuit of success, solidifying each other’s commitment to the other’s professional advancement. Their resilience and mutual support have formed the cornerstone of a dynamic partnership, propelling them both towards impressive career aspirations.

Last spring, they were able to test the strength of their relationship as they both faced difficult personal situations. Casey was in a hospital with her father – helping him on his road to recovery after a brain tumor surgery – when she saw on the news that there had been a shooting at the school Melissa’s son attended.

“I received a text from Melissa that read ‘… and I was supposed to be there for you right now, Casey! Even with everything she was dealing with in Nashville, which was much scarier than what we were facing sitting comfortably in a hospital, she was still thinking of me and my family,” Casey noted.

CAS E Y F L A N N E RY A N D M E L I SSA A L E X A N D E R O F F I C I A L LY T E A M E D U P I N 2023 AT F O U N D RY CO M M E R C I A L

Melissa and I share a unique bond built on mutual support and professional growth. When I first ventured into the world of brokerage, she became my trusted confidante.

CASEY FLANNERY

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PLATFORM IMMERSION GABE DE JESUS & MIKE DEMPSEY

During the tumult of 2020, Mike Dempsey found himself navigating the uncharted waters of a new career path amidst a global pandemic. Joining a company during such uncertain times meant adapting to remote work and forging connections from the confines of his home. His journey into commercial real estate was not without its challenges, but a chance coffee meeting with Brian Brtalik marked the beginning of a transformative chapter. This encounter led Mike to Foundry, where he hit the ground running as an office tenant representative.

It didn’t take long for him to realize he needed to know Gabe De Jesus, a seasoned broker whose reputation preceded him.

Young, driven, and respected, Gabe became a natural mentor figure for Mike. And even though the two are in different markets – Gabe in Orlando and Mike in Charlotte – a mentorship blossomed organically. As Mike reflects, “It was clear to me from early on that Gabe is incredibly well-respected not just inside the platform, but also well beyond it. He has a voice that is not only heard but often sought after. He’s very well-connected and has an innate ability to really understand what it is a tenant wants. Our relationship has had a tremendous impact on me both professionally and personally. Whether it’s the basic blocking and tackling or business development strategy, Gabe is someone I can call upon for sound advice and he’s someone that I’m incredibly grateful for.”

( F R O M L E F T ) G A B E D E J E S U S , J O H N P I E T K I E W I CZ , A N D A L E X R O SA R I O

and now, even fatherhood. The two have bonded over a continued tactical goal for a more cohesive tenant representation strategy across all markets, an endeavor they are actively working on together.

It was clear to me from early on that Gabe is incredibly well-respected not just inside the platform, but also well beyond it.

More than four years into the relationship, Mike and Gabe still connect regularly to discuss client strategy, career aspirations,

MIKE DEMPSEY S E N I O R ASS O C I AT E , O F F I C E T E N A N T A D V I S O RY

Mentorship – whether formal or informal – provides a steady foundation for collaboration and growth, and often, symbiotic relationships form in which knowledge, challenges, and personal development intertwine. As mentors impart their expertise and guidance, mentees

navigate through complexities with newfound clarity and confidence. Together, they traverse the landscape of professional and personal growth, forging bonds that transcend mere instruction to foster lasting connections.

SERVE WEEK THE OCHO

I N 2016, T H E F I R ST Y E A R O F F O U N D RY ’ S S E RV E W E E K T R A D I T I O N , ASS O C I AT E S F R O M T H E O R L A N D O O F F I C E S E RV E D AT S E CO N D H A RV E ST F O O D B A N K O F C E N T R A L F LO R I D A .

In 2016, Foundry Commercial initiated Serve Week, an annual tradition born from a profound sense of gratitude for being able to establish and grow a company. As a reflection of this gratitude, Serve Week focuses on actively serving alongside the remarkable nonprofits addressing critical community needs.

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Serve Week has become about so much more than a week where Foundry’s associates fan out across the country to plug deeper into their communities. Serve Week offers an opportunity for all team members to come together to accomplish something much greater than the individual efforts of any one person, taking time away from the day-to-day busyness of work in the name of serving others.

As Nick McKinney stated in the Serve Week recap video, “proximity is powerful.” Engaging directly with the non-profits in the local communities through hands-on work brings an invaluable understanding of the real needs and challenges they face on a regular basis, fostering genuine connections and impactful change P. 3 6

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at grassroots levels. It's in these moments of immersion that Foundry’s associates truly comprehend the depth of impact and find inspiration to drive meaningful, lasting solutions.

When the company was founded, one of the key tenets upon which it was built was the notion of a 'virtuous circle,” in which Foundry serves others all the way around, whether that be clients, partners, associates, or others in the community. There exists a belief among all team members that giving back and making waves in the community are integral components of the circle, and are key ways in which the company drives its mission forward.

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During Serve Week, Foundry's associates often find themselves smiling ear-to-ear with the sheer joy of helping others, and everybody who is volunteering is doing so because they want to be there. Beyond just a week-long endeavor, Foundry has cultivated profound relationships with various non-profit organizations, embracing their missions year-round. These bonds extend beyond scheduled events, with Foundry associates often plugging in outside of designated service weeks.

For example, in Charlotte, Foundry Commercial has been serving the Greater Enrichment Program (GEP), which serves elementary-aged children in the community by providing a quality after-school enrichment program. At GEP, students are given academic, cultural, and social instruction in a safe and loving environment.

And Foundry has been involved with the deserving organization since 2017.

"Foundry's Serve Week is something we talk about as a model for other businesses to replicate. It's one of the kids' favorite days of the year every year. With all the stuff that’s going on in the world, our goal is to give kids memorable, meaningful, and positive experiences. Foundry’s team members come in and are loving, patient, and excited.

It makes a difference in the lives of these young people,” said GEP Executive Director Bronica Glover.

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FOUNDRY’S SERVE WEEK IS SOMETHING WE TALK ABOUT AS A MODEL FOR OTHER BUSINESSES TO REPLICATE. B R O N I C A G LOV E R G R E AT E R E N R I C H M E N T P R O G R A M E X E C U T I V E D I R E C TO R

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In addition to GEP, Foundry’s 2024 Serve Week included volunteering alongside: CitySquare in Dallas, TX, seeks to fight the causes and effects of poverty through service, advocacy, and friendship.

The Foundry team helped deep-clean CitySquare's pantry and enhanced its outdoor space.

For over 30 years, South County Outreach has been a beacon of hope in Orange County, Calif., fighting hunger and homelessness through empowerment and essential services.

During their time volunteering, the Foundry California team assisted with sorting items within the food pantry.

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The mission of Friends of Shelby Park is to preserve, enhance, and promote Shelby Park and Bottoms for everyone to appreciate and protect. With summer just around the corner, the Foundry Nashville team pitched in to spruce up the park.

JOHN S CHNEI DER, C HR I S BURY, C H A R L I E H OWA RT H , R I C K H E LTO N , A N D AU ST I N M A D D U X S E RV I N G I N S O U T H E R N CA L I F O R N I A AT S O U T H CO U N T Y O U T R E AC H .

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For more than 40 years, Victory Housing has provided quality assisted living for seniors and affordable housing for low- and moderate-income individuals and families in D.C. and Maryland. The Foundry team assisted in organizing and sorting materials used for activities for the seniors residing at the housing development.

Camp Twin Lakes in Rutledge, GA, offers fully adaptive camp experiences year-round to children and families facing serious illnesses and disabilities, fostering personal growth and community bonds through intentionally designed programs.

The Foundry Atlanta team enhanced outdoor spaces around the cabins and also tended to farming tasks so campers can enjoy fresh produce.

(FROM LEFT) D E X T E R G R A N T, TO N Y SA N T I TO R O , ANTRONE BRODIE, AND DONALD BRUMFIELD HELP I N STA L L A S I N K F O R FA M I LY P R O M I S E O F WA K E CO U N T Y.

Family Promise of Wake County provides church-based emergency shelter and meals to Wake County families experiencing temporary homelessness. The Foundry Raleigh team handled painting, repair, installation, and landscaping tasks.

Loggerhead Marinelife Center is dedicated to conserving ocean ecosystems, especially endangered sea turtles, through research, rehabilitation, and education. Foundry’s Boca Raton team had a fantastic day at the beach cleaning up trash along the shoreline.

Habitat for Humanity of Hillsborough County builds and renovates homes in partnership with individuals and families in need of decent, affordable housing. The Foundry Tampa team laid sod, built a porch, hung blinds, and installed closet doors for soon-to-be resident and first-time homeowner, Amber, along with her three children.

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Feeding South Florida utilizes innovative direct-service programs and a network of nonprofit partner agencies to aid those in need. The Foundry team from the Coral Gables office inspected, sorted, and packed boxes of food for families in need. In total, the team sorted and packed 920 boxes filled with essential food items, which will go a long way in helping those who are struggling with food insecurity.

Second Harvest Food Bank of Central Florida is a private, nonprofit organization that collects, stores, and distributes donated food to more than 500 feeding partners in six Central Florida counties. Foundry has a longstanding relationship with the food bank, and the team was proud to once again offer up time and talent to help make a dent in the food insecurity issues facing Central Floridians.

The Down Syndrome Association of Jacksonville holds a special place in the hearts of the team members. This year, Foundry’s Jacksonville team assisted with the organization’s annual charity golf tournament. It was a rewarding day for everyone involved, supporting a wonderful cause.

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J AC KS O N V I L L E T E A M S E RV I N G AT T H E A N N UA L G O L F TO U R N A M E N T F O R T H E D OW N SY N D R O M E ASS O C I AT I O N O F J AC KS O N V I L L E

T H E F O U N D RY CO R A L G A B L E S T E A M S E RV I N G AT F E E D I N G S O U T H F LO R I D A

And while the daily activities of Serve Week have concluded for 2024, the goal remains: to make a tangible impact in the communities Foundry serves. Through sustained efforts, Foundry fosters a culture of empathy and collective responsibility, leaving a lasting imprint on both volunteers and beneficiaries alike.

FOUNDRY FOSTERS A CULTURE OF EMPATHY AND COLLECTIVE RESPONSIBILITY.

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SW E E T B A BY G I R L On July 21, 2023, Nick Santitoro from the Charlotte office, and his wife Brooke welcomed their baby girl, Virginia Rose.

BEGINNING OF FOREVER

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Charlie Howarth from the California office, was married by Chris Bury with the MPG group, to his wife, Ellie on October 1, 2023.

MINI ME Zane Henderson from Orlando and wife Jess welcomed their first child, Annie Henderson on October 13, 2023.

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LOV E - F I L L E D U N I O N Tara Ashton from the Nashville office married her husband, Matt on October 14, 2023.

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M A R I TA L B L I SS Kelsey Ballesteros from the Charlotte office tied the knot with her husband, Drew, on October 21, 2023.

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W E D D I N G B E L LS Antwan Smith from the Orlando office tied the knot with wife, Asha, on October 24, 2023.

D O U B L E J OYS Ally Bogaczyk from the Raleigh office, said "I Do" to husband Sam and also welcomed their sweet new puppy, Dash, in October 2023.

T I N Y T R E AS U R E S Stuart Ashmun from the Dallas office and his wife, Emily, welcomed their second daughter Honor Alice Ashmun, on November 23, 2023.

I T ' S A PA RT Y Alana Guinard and her husband had their third baby, Hailey Guinard, on December 1, 2023.

H A P PY C O U P L E Haley Felton from the Nashville office got engaged to her fiancé, Izhar, on January 1, 2024. They will be getting married in San Diego in November of 2024.

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WE'VE GOT A LEAPER Travis Hammond from the Orlando office and wife Allie, welcomed their second daughter Michele Hammond on February 29, 2024.

M I R AC L E B A BY Mike Dempsey from the Charlotte office and wife Taylor welcomed their miracle baby, James Dempsey, 7 weeks early on March 1,2024, with only 3lbs to his name. He's growing stronger and bigger each and every day!

B U N D L E O F J OY W.B. Scoggin from the Nashville office and wife AnnaChristen welcomed their third daughter, Kayla Brook Scoggin, on March 15, 2024.

B A BY D O N AG H Y Ronan Donaghy from the Dallas office and his wife Alva welcomed their first baby boy, Finn Patrick Donaghy, on March 18, 2024.

J OYO U S W H I R LW I N D Madi D'Ostuni from the Nashville office and her boyfriend, Kevin Kardas, got their new dog, a Tamaskan named Echo, on October 2, 2023 and closed on their first home on March 25, 2024.

N ATAS H A S A I D " I D O " Natasha Girard with ION in the Orlando office, said her vows at the Orange County Courthouse with husband, Joe, on April 4, 2024.

N U P T I A L B L I SS Olivia Matoszkia from the Nashville office tied the knot with her husband, Kaleb, on April 13, 2024.

A G R O W I N G FA M I LY Nick Vinson from the Nashville office, welcomed his second baby, Luca Vinson, next to first child Bella, with his wife, Sara on April 13, 2024.

B A BY B OY Ginger Maldonado, from the Orlando office and husband Billy, welcomed their son Liam Lucas Maldonado on November 11, 2023.

SUMMER 2024

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T O P W O R K P L AC E The Orlando office received the prestigious 2023 Top Workplace designation from the Orlando Sentinel.

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C E L E B R AT I N G T H E PASS !

The Charlotte Office Leasing team, in partnership with Third & Urban, threw a spectacular grand opening event to celebrate The Pass redevelopment in the Charlotte, NC.

2023 C R E I C O N F E R E N C E hellojenny, Foundry's digital marketing agency, gave a stellar presentation on "Laying the Foundation for a Successful Social Media Strategy" at the 2023 CREi Conference.

C E L E B R AT I N G H I S PA N I C H E R I TAG E M O N T H Teams across the platform celebrated Hispanic Heritage Month through festive in-office gatherings.

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H A L LO W E E N C E L E B R AT I O N S It was spooky this Halloween with fun celebrations across our offices.

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TAS T E O F N AT I O N S The Orlando team celebrated the muchanticipated annual 'Taste of the Nations' potluck!

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The Charlotte team rallied for National Animal Shelter Appreciation Week, collecting pet supplies for Humane Society of CLT.

N AS H V I L L E S E RV I N G The Nashville team volunteered at Second Harvest Food Bank of Middle Tennessee during the Thanksgiving season.

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O F F I C E P O T LU C KS

P U T T - P U T T & C O F F E E , Y E S P L E AS E

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G L ASS B LO W I N G E X T R AVAGA N Z A Nashville broker Rudy Maxwell welcomed the local office to his family's local coffee shop, Nashville Glasshaüs, that doubles as a glass blowing studio for a company happy hour.

R A L E I G H H O L I DAY S E RV E The Raleigh office had the incredible privilege of serving at The Christmas Store, a local nonprofit bringing smiles to children in need during the holiday season!

TAC K Y SW E AT E R S & H O L I DAY C H E E R !

C LT + P O RT M A N H O L D I N G S G I V E B AC K T H R O U G H S AVO N A M I L L Alongside client Portman Holdings, Foundry hosted a broker event at Savona Mill, where $150 was donated to the Salvation Army's Angel Tree program for every broker who attended.

LC E F ' S A N N U A L M E M B E R S MEETING Pryse Elam gave an economic update during the Lutheran Church Extension Fund's annual member meeting

Foundry embraced the "feastivities" across all the offices! Hearts were grateful and meals were shared.

The Dallas team celebrated the renovations of 600 ELC, an office building we lease, with an epic interactive putt-putt event.

C H E E R S T O T I LT I N G U P The Jacksonville team celebrated walls tilting at Butler 95, Foundry's first industrial development in Jacksonville.

Festive tacky sweaters and holiday events brought smiles and laughter to our offices this holiday season.

TEAM BONDING The Orlando accounting team revved up for a day of camaraderie at Dezerland.

E N GAG E W OM E N ' S S U M M I T Foundry was thrilled to host the second annual women's summit, Engage.

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CHILI COOK-OFF The Nashville Industrial team hosted a chili cook-off at Saturn Crossing, a Griffin Partners Class-A industrial development in Spring Hill, TN.

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C E L E B R AT I N G LOV E From tenant and broker events to in-office goodies, Foundry enjoys celebrating all things love!

R E TA I L E X P E RT I S E Carrie Bobb from the Nashville office participated on a panel where she shared retail expertise at the 2024 FSU-Kislak Tampa Market Strategies Forum.

M A R K E T L E A D E R R A L LY

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Rayanne Charles, Controller, and Antwan Smith, Fund Accountant, attended the National Academy of Finance Student conference in Orlando.

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The Foundry market leaders got together for a series of immersive and collaborative sessions.

H O N O R I N G B L AC K H I S T O RY M O N T H Foundry's Raleigh office celebrated Black History Month by inviting Durham Mayor Leonardo Williams to stop by and share food from Zweli's, the first Zimbabwean restaurant in the U.S. that he just happens to own!

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M A R C H M A D N E SS The Orlando office hosted an epic March Madness themed breakfast to celebrate the start of March.

I N T E R N AT I O N A L W OM E N ' S DAY Foundry is proud to honor the remarkable women who help make the workplace so special.

A L E G E N D C E L E B R AT E D The Nashville team celebrated Don Albright, a Partner and industry legend, as he retired this past March.

I C S C C A R O L I N AS The powerhouse Charlotte retail team set up shop at ICSC Carolina's this year, where they showcased how they are revolutionizing the retail landscape!

N AS H V I L L E N A I O P GA L A The Nashville team attended the NAIOP Gala, where their development Creekside Logistics was named as a finalist for Industrial Development of the Year.

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SOLAR ECLIPSE Team members across the country took a break to witness this awe-inspiring solar eclipse.

P R OJ E C T M A N AG E M E N T S U M M I T Our Project Management team spent two dynamic days in Raleigh strengthening bonds, honing talents, and fostering team spirit.

P I DAY Foundry loves to celebrate Pi Day, where every slice is infinitely delicious!

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B E S S I E W I N S TO N A N D R I C H A R D SM I T H S E RV I N G AT C A M P T W I N L A K E S D U R I N G S E RV E W E E K

Foundry is an undeniable group of entrepreneurial, intelligent, and caring people who are choosing to work together because it makes them better.

Lawrence “LG” Gellerstedt, Leadership, Atlanta

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

@foundrycommercial