Andrew Wright, CEO and managing partner of Franklin Street

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ATLANTA—Consolidation is nothing new in the commercial realestate industry, but it's a consistent theme. In bull and bearmarkets alike, we've seen significant mergers and acquisitions atjust about every level of the business.

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GlobeSt.com caught up with Andrew Wright, CEO andmanaging principal of Franklin Street, to get his thoughtson the ongoing consolidation in the commercial real estateindustry. He previously spoke to us about carving out a big niche in a down market and the growing pains his firm has experienced over the past 10years.

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If you trace most major moves in the industry back to the root,there's one common theme. As Wright sees it, it's about themoney.

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“The consolidation is purely financially motivated,” Wrighttells GlobeSt.com. “That's the only reason companies consolidate ormerge. It's not because it feels good. Consolidation isstrategically important to them.”

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Coming off the heels of 2008, Wright says a lot of firms wereplanning to consolidate then but they missed their window ofopportunity. As soon as you become a public company or are viewingthings based off the dollars, he continues, then many of thecultural ideals that I mentioned before are not as relevant.

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“We're here to make money, don't get me wrong, but our topcriteria are for our people and our culture,” Wright says. “Thatbeing said, the consolidation of the business has been a greatthing for us. I understand it. It makes a lot of financial sense.But you're starting to see it now where there are feweropportunities for professionals.”

|

According to Wright, there are fewer options for clients andfewer opportunities for individuals because there are less seats tobe had. He sees commercial real estate consolidation as oneof the biggest opportunities for us.

|

“We're one of the few real estate employment opportunities inthe Southeast,” Wright says. “And we'll be in other markets lookingfor qualified people to be part of a growing business opportunitythat's not just worried about what our quarterly results are goingto be.”

|

Andrew Wright, CEO and managing partner of Franklin Street

|

ATLANTA—Consolidation is nothing new in the commercial realestate industry, but it's a consistent theme. In bull and bearmarkets alike, we've seen significant mergers and acquisitions atjust about every level of the business.

|

GlobeSt.com caught up with Andrew Wright, CEO andmanaging principal of Franklin Street, to get his thoughtson the ongoing consolidation in the commercial real estateindustry. He previously spoke to us about carving out a big niche in a down market and the growing pains his firm has experienced over the past 10years.

|

If you trace most major moves in the industry back to the root,there's one common theme. As Wright sees it, it's about themoney.

|

“The consolidation is purely financially motivated,” Wrighttells GlobeSt.com. “That's the only reason companies consolidate ormerge. It's not because it feels good. Consolidation isstrategically important to them.”

|

Coming off the heels of 2008, Wright says a lot of firms wereplanning to consolidate then but they missed their window ofopportunity. As soon as you become a public company or are viewingthings based off the dollars, he continues, then many of thecultural ideals that I mentioned before are not as relevant.

|

“We're here to make money, don't get me wrong, but our topcriteria are for our people and our culture,” Wright says. “Thatbeing said, the consolidation of the business has been a greatthing for us. I understand it. It makes a lot of financial sense.But you're starting to see it now where there are feweropportunities for professionals.”

|

According to Wright, there are fewer options for clients andfewer opportunities for individuals because there are less seats tobe had. He sees commercial real estate consolidation as oneof the biggest opportunities for us.

|

“We're one of the few real estate employment opportunities inthe Southeast,” Wright says. “And we'll be in other markets lookingfor qualified people to be part of a growing business opportunitythat's not just worried about what our quarterly results are goingto be.”

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