Company of the Month: NAI Friedland launches aggressive corporate growth strategy amidst 40th anniversary celebration

NAI Friedland, which celebrated its 40th year in business with a special anniversary event, recently launched a major expansion initiative. Company officials predict the initiative will significantly increase the firm's presence and market share in the New York metropolitan area's commercial real estate market in the years to come. Despite the difficult economy, the Westchester-based firm remains a market leader in the area's office, retail, and industrial real estate brokerage. As a member of NAI Global, one of the world's leading managed networks of commercial real estate firms, NAI Friedland has also been successful in securing some of the industry's largest assignments. CEO Tony Lembeck now reports that the company is looking to grow its existing brokerage operations and enter into new commercial real estate-related arenas. Jay Olshonsky, the firm's COO, has been charged with orchestrating the company's growth strategy. "I've been cast to grow the company in multiple directions, in the office division, in the investment sales division, and we are now going to enter the property management world. At the same time, NAI Friedland will increase its industrial and retail brokerage operations. Our goal is to quadruple the size of the company in five years." Lembeck and Olshonsky said that the time is right for the company, founded by Robert Friedland, to grow its base of business. The firm, which began operations with a staff of about three employees, has grown to 25 at its headquarters in Westchester and its office in Manhattan. "This is the perfect time to expand," Olshonsky said. He believes the worst is over for the commercial real estate market, although there are still tough times ahead. "We have been bouncing around the bottom of the economic cycle for some time now and it isn't getting any worse. Things have stabilized and can really only move in one direction." Olshonsky noted that 30% of the commercial real estate market is controlled by the largest brokerage firms. "That still leaves 70% of the market for everyone else. That is our niche and our target. It's a big opportunity." "Large firms are often selected by clients simply because of the name," said Olshonsky, who earlier this year made the move to NAI Friedland from one of the nation's largest real estate firms. "While at my previous company, I would often leave a client meeting believing that a local broker would've been more attuned to their needs." The company has already initiated an aggressive marketing effort to recruit new brokers versed in all aspects of commercial real estate. The firm is also interested in talking with people who are looking to change careers, such as attorneys. In addition, NAI Friedland is marketing for potential merger/acquisition targets and is currently in discussions with some firms that have expressed interest. Lembeck said that although the company is looking to get larger, it will not abandon the principles that have fueled NAI Friedland's success for four decades in Westchester, the Bronx, as well as Putnam and Rockland Counties. "We've closed our share of larger transactions as of late," said Lembeck. "That being said, NAI Friedland's knowledge and experience in the local market has proven invaluable for local companies that are looking to lease space in the area." NAI Friedland's affiliation with the NAI Global Network, which has 5,000 professionals and 350 offices in 55 countries throughout the world, also gives the company the necessary national and international contacts when representing Fortune 500 firms and other national and regional corporations in larger sized retail, industrial, and office transactions. The NAI network has 10 offices in the New York metro area alone. Jeffrey Finn, president and CEO of NAI Global, spoke positively of the partnership NAI Global and NAI Friedland have shared. "Combining the global network of NAI and the local expertise of NAI Friedland has made ours a very complementary partnership which continually leads to success," said Finn. NAI Friedland's first big listing was the Otis Elevator plant in Yonkers, followed by a large deal with Kawasaki. Since then, the company twice completed the transfer of the former 9.5-acre Loral Electronics site in the South Bronx to real estate developers, sold the Sears Building on East Fordham Rd., and handled several deals for Walgreen's, IHOP, Raymour & Flanigan, Brightside Academy, Acorda Therapeutics, Dunkin Donuts, and Liberty Travel throughout Westchester County, the Bronx, and Manhattan. Last year, the firm brokered a $20 million deal with Manhattan Beer for the 144,000 s/f 1080 Leggett Ave. in the Bronx. "NAI Friedland is focused on creating professional, lasting relationships with all of our clientele - whether they're large companies or small businesses," said Lembeck. "Historically, our firm has been involved in some of the area's largest deals primarily because we have the ability to bring buyers and tenants to the table." NAI Friedland is located at 656 Central Park Ave. The firm can be reached at 914-968-8500 or by visiting www.friedlandrealty.com.