• Thu. Dec 1st, 2022

Sarasota’s Best Commercial Real Estate Company in 2021 Sees Growth Through Diversity

Sarasota’s leading commercial real estate company in 2021 was MSC Commercial with a transaction volume of more than $160 million, according to the company’s chief broker.

Scott Cietek, chief broker of the commercial real estate arm of Michael Saunders & Co., said he attributes the success to the company’s 30 real estate professionals, increasing staff diversity and a company asset. to have the only research analyst dedicated to commercial properties in Sarasota, Manatee and Charlotte counties.

Eight MSC Commercial agents had closed sales or lease volume of $10 million or more in 2021.

A typical year before that, Cietek said, would see three or four hit the $10 million mark.

Scott Cietek, managing broker of the commercial real estate arm of Michael Saunders & Company®.

“Having so many is unheard of and it shows a great balance in our team and that we are not relying on just one rainmaker to carry us,” he said.

The closed sales volume of $160 million is the highest for Michael Saunders & Co.’s trading division in a year, he said.

According to the My Florida Commercial Real Estate Transaction Leaders Council, MSC Commercial completed 90 sales and represented at least one side of a commercial lease in 107 transactions, with sales proceeds of $86.9 million.

Cietek said it does not believe the figures maintained by MFCRE include transactions where the company represented both parties in an agreement to explain the difference in rental volume and sales compared to its reported figures and the board of directors. administration of MFCRE.

But according to MFCRE figures, MSC Commercial grossed $30 million more than Sarasota’s second-largest commercial real estate company, American Property Group of Sarasota, and closed 31 more deals than anyone else on the list.

Two companies had more leases — Ian Black Real Estate at 151 and Harry Robbins Associates Inc. at 138 — in 2021. MSC Commercial reported 107 leases, according to MFCRE.

The increase in activity in commercial sales and leases stems in large part from a drastic influx of people to Florida’s west coast, fueled by changing migration patterns caused by the COVID-19 pandemic .

More people in an area means more goods and services need to be produced, which means the expansion of existing businesses and the creation of new businesses.

Current migration patterns show that the part of Florida from Tampa to Naples is one of the fastest growing areas in the United States.

Experts have yet to determine if the migration pattern is permanent, as some of the migration has happened in part because of early retirements.

Cietek expects 2022 to be just as strong, with MSC Commercial “having a chance to break through” at $200 million in closed volume for that year.

Susan Goldstein, the 2021 Top Commercial Agent for MSC Commercial, started with the company in 2005.

Susan Goldstein, the 2021 Top Commercial Agent for MSC Commercial, started with the company in 2005.

A career in commercial real estate comes with many challenges, but also many benefits.

One day, Goldstein may speak to the executives of a company looking to expand to Sarasota. As early as the next day, Goldstein could be on site at a property to get the details to put it up for sale.

“Every day is different,” she said, “and every case is different.”

But she says part of every deal is working with clients to develop a partnership with them to achieve the desired results.

Cietek called Goldstein a star of the MSC Commercial team and noted that when he started at MSC Commercial in 2018, the company had just three women on staff.

Including the property management team and the administrative staff, the company now has 10 women out of a workforce of 30 people.

Cietek said commercial real estate is often seen as a male-dominated profession.

The Commercial Real Estate Women Network reported in 2020 that only 36.7% of the commercial real estate sector were women.

He credits business diversification with helping the company grow.

“We want to be able to serve as many people as possible,” Goldstein said. “The diversity of our organization allows us to do this and to do it well.”

Cietek said he was not just talking about having more women on staff, but also about having a diverse age group in the company.

While Cietek highlighted the impact of increasing diversity on company growth, it also pointed to Katie Kohler, the company’s research analyst.

“If you have the best data, you’ll win the day,” he said.

Cietek’s predecessor at MSC Commercial created the research position in the company, but the position has only been around for a little over three years.

Kohler joined the firm last year after leaving the Manatee County Property Appraiser’s Office, where she was a commercial appraiser.

Katie Kohler, research analyst at Michael Saunders & Company®.

She spends all her time supporting the company’s agents.

“I just find the best data so they can properly list properties where they won’t sit for three to four years,” she said. “A lot of conversations right now are about highest and best use.”

Amber Gasson joined MSC Commercial in May and continues to learn from other professionals in the business. She is now focused on South Sarasota County, where she currently has two rosters.

Comparing his property ratings to Kohler’s ratings helps him learn faster.

“I think that (the research analyst position) gives us an incredible advantage,” she said.

Lee DeLieto Sr. has worked at MSC Commercial for 26 years and recalls the days when other commercial businesses in the city didn’t take the residential-focused commercial real estate arm of Michael Saunders & Co. seriously, noting to how much the residential business was comparatively larger.

That is no longer the case, and hasn’t been for many years, he said, but still called the company’s place at the top of the rankings a “triumph”.

DeLieto Sr. works as a team with his son Lee DeLieto Jr. and two other realtors, Kevin McQuaid and Will Martin. This team achieved approximately $50 million in closed sales in 2021.

DeLieto Jr. said the well-known and highly visible residential side of the business is actually a huge benefit to the commercial division, pointing out that many of the deals the team closed in 2021 came from prospects of previously residential customers. .

He said the residential division and the commercial division work in harmony and provide comprehensive real estate service to clients.

All MSC sales agents interviewed for this story predicted a strong 2022, with DeLieto Sr. noting that 2021 momentum has $25 million in deals expected to close in the first quarter of 2022 for his four-member team.

He also sees the research position as a key factor in the growth of MSC Commercial.

“She (Katie) is amazing,” he said. “She sees the pockets of opportunity and we are taking advantage of it.”