According to FoxNews.com, “the unemployment situation across America is bad, no doubt. But, for African-Americans in some cities, this is not the great recession. It’s the Great Depression.” In a time when many people of color are considering a career change, the global financial and professional services firm, Jones Lang LaSalle (NYSE:JLL), welcomes seasoned professionals to consider a career in commercial real estate.
Jones Lang LaSalle is an industry leader in property and corporate facility management services. The firm serves clients in 70 countries from more than 1,000 locations, with a portfolio of approximately 1.8 billion square feet worldwide.
In today’s changing world, Jones Lang LaSalle works everyday to attract and retain the best talent available to them. In New York City, Shawna Menifee is an Executive Vice President with Jones Lang LaSalle and has been working in commercial real estate for the past 14 years. With a master’s degree from New York University’s Shack Institute of Real Estate, her area of expertise is cultivating new business relationships with corporations throughout the United States, with an emphasis in the New York Metropolitan Area. She currently represents both landlords and tenants.
“I actually made a career change to commercial real estate. What attracted me to an industry that I initially knew nothing about was the ability to be entrepreneurial and start my own business practice,” said Ms. Menifee. “A career in commercial real estate can be quite a lucrative one. There are deals that can result in seven figure commissions. At the same time, no two clients or deals are the same and each day brings about a new challenge.”
Menifee also says that the average day’s activities for a commercial real estate professional includes:
•Researching target accounts.
•Making cold calls to Chief Financial Officers and Operations Managers.
•Surveying the market.
•Constantly creating activity reports to update your clients.
If you are one who is a good communicator, excellent with time management and organizational skills, persistent and highly motivated, consider a career in commercial real estate.
For more information on careers in commercial real estate, visit Jones Lang LaSalle at www.joneslanglasalle.com.
Top 10 tips
Jones Lang Lasalle’s Shawna Menifee’s top 10 tips In considering commercial space for your small business
When looking for a home for your business there are a lot of factors to consider:
1. Hire professional real estate broker exclusively. Broker provides a wealth of knowledge that will allow you to make an educated and informed decision.
2. Labor will almost always be a business’s biggest expense, real estate is often time a close second.
3. Ask for concessions package- free rent and a cash contribution and/or provide a “turn-key” installation.
4. Negotiate at least 2-3 sites at once to create a leverage negotiating environment.
5. Investigate landlord – check out how building is maintained, what are the renovations.
6. Location, Location, Location – perfect locations can depend on what kind of business you operate.
7. Don’t rush, it can take months to negotiate a comprehensive deal.
8. Calculate the entire economic packages- rent, operating expense, taxes, HVAC charges, sub meter electric.
9. Inspect the Infrastructure of building – HVAC, roof and plumbing.
10. Review lease carefully with attorney.