Top Story
Mission Driven CRE Design
Check out Vanna Whitney's CRE Industry success story!
Years in CRE: 30
What do you do in the Commercial Real Estate industry, and why is this career rewarding for you? (personally, socially, not necessarily financial)
I’m an Asset Manager for a portfolio of commercial real estate investments representing most asset classes and located throughout the United States. I’ve represented both publicly traded companies as well as private equity companies. I have had this position at various companies for some 30 years and find it rewarding as there is a wide variety of issues involved with operating, buying, and selling properties that are in various stages of their operating life cycle. I’m able to act as owner’s representative and interface with teams of property managers, brokers, attorney’s and various consultants. From a personal standpoint, the job has allowed me to travel to many different cities. But most importantly, as a woman, the hours are predictable for the most part and conducive to having a family as opposed to say an acquisitions position, where you’re at the mercy of many unpredictable deadlines.
Between the start of your career and now, what changes do you see impacting the future generation in your “field”?
Women and minority representation has grown over the years but not as quickly as it should. However, in the recent past, I’ve seen a big boost in companies actively seeking diversity for their employees as they understand the benefits of a variety of opinions and experiences. Another area of continued change has been technological changes in the commercial real estate field. While real estate has been slower than other industries at embracing technology, there are numerous areas now that are benefiting from new ways to analyze and track property performance, such as; portfolio-level analysis, energy efficiency measures, accounting modules and market data tracking.
What was the most pivotal event or decision made in the path of your career success?
There is not one pivotal event I can point to but in general, I have remained open to any and all assignment opportunities and in many cases have not waited for them to come to me but instead made them happen by bringing ideas to those in charge. Also, its been extremely helpful to maintain industry relationships outside of my company. Many times these are people who have served as my mentors, offering guidance and support. Lastly, volunteering for industry organizations in leadership positions has been extremely helpful for developing leadership skills as well as keeping abreast of best practices. Whether it be through ULI, BOMA, ICSC or any local real estate-related organizations.
What do you see as the best way for the next generation to lead change, and to challenge the status quo?
When faced with an opportunity, don’t think you need to be able to check 100% of all qualification boxes, you bright and can pick up new skills and experience quickly. Most men who are faced with such offers, report only possessing 65% of the qualifications required. Next-generation women also need to find sponsors within their company who will advocate for them because sometimes, you can do all the right things for advancement but if your facing any leadership bias, you can be overlooked without the advocacy and support of another senior manager.
If you were sitting across the table from a younger “you”, what would you tell her about succeeding in this career?
Don’t be afraid to take career chances. While it can be hard to do so because these opportunities normally present themselves around mid-career, this is also a time when women have young families to weigh in the balance. But you don’t want to wait too long to break out and show what your ultimately capable of!
Don’t have an account? Sign up for a ULI guest account.