From New York to Washington, DC Newmark Knight Frank Capital Group women raise the bar

Staying ahead in commercial real estate requires "utilizing new and creative ideas to meet challenges as they come down the pipeline," according to Capital Group managing director Lisa Adubato. To accomplish this, Adubato keeps current with industry publications; networks constantly; stays up-to date with the latest technologies; and continuously takes academic classes related to her profession. "It's also important to maintain constant personal contact with clients," she said, "and maintain sound understanding of their business plans and objectives." Like many professional women, Adubato had to overcome gender-related challenges to get to where she is today. "When I started out in the business world, I was one of only a handful of women in managerial positions in the banking industry," Adubato said. "Then, there were numerous prejudices against women assuming roles in traditionally all-male fields like banking, and I learned early on that being the best in your field did not always make a difference in the attitudes you had to face." The challenges of juggling family and career have required some tough choices. But at the same time, "My daughter is my biggest motivation to succeed-because I want her to see that having both a successful career and a family is indeed possible." Adubato credits her father, attorney Peter Adubato and colleague Matthew Schnurr, a Newmark Knight Frank principal, as having had the strongest influences on her career. "My father taught me my work ethic, and instilled in me my drive to be the best at whatever I endeavor," said Adubato. "And my partner has mentored me over the years in commercial real estate-his vast knowledge of the industry and his gift of gab has taught me a lot." Constant change is what makes commercial real estate exciting, Adubato adds. "I love the way the industry changes. At one time a certain type of property is hot, and then six months later it is another-you never feel tied down to one specialty when you are selling real estate." Adubato looks forward to advising clients in creative deal structures that maximize value in today's challenging market. The biggest challenge to that right now is financing for projects marketing, she reports. And while the economy is far from robust, "The silver lining is that imbalances and inequities created in the market over the past several years will be corrected, and regulations enacted to oversee the lending policies of financial institutions," she said, "much like in the 1990s after the last financial markets collapse."The satisfaction that comes with clients getting "the most thoughtful analysis, the best advice, and the most comprehensive service possible" is the major motivation for Lisa Benjamin in real estate practice, which includes investment and land sales, and tenant advisory services. "I work hard to create value for my clients by matching market knowledge with opportunity," said Benjamin, a principal in the Washington D.C. office. When it comes to land sales, her approach is "to uncover value in development sites," she explains. On the investment side, her goal is to match up "off-market" deals with prospective buyers. "And for leasing clients, "I make it a point to fully understand their business model, to ensure that the real estate solutions I provide enhance their business operations." Benjamin prides herself on staying ahead of the curve by reading as much as she can on the real estate market, the political/economic landscape, and any reports she can get her hands on about the industries her clients are involved in. The growing movement to creating a more sustainable environment has had a lot of influence on her business, she notes. "I've been heavily involved in my local building industry organization in helping to craft legislation that balances construction practices with sustainability goals," said Benjamin. "I am particularly interested in residential building code changes that better address green standards." A veteran of a number of real estate down cycles, Benjamin cites focus, self-reliance, resiliency and flexibility as key attributes to success. Her two teenage daughters have been a strong influence on her real estate career and are also a prime source of motivation, she reports, adding "they love to be filled in on the antics of the day when I get home-and it helps my outlook when I try to put a positive spin on everything." In the future, one of Benjamin's major goals is to spend more time mentoring younger associates in the commercial real estate industry. Today's market is made tougher by the fact that "there is still a lot of uncertainty about when the bottom has been reached." On the bright side, as a result of a slower pace of deals, "Prospective clients are happy to take the time to meet with me," and everyone is eager for information," she said, adding "The current downturn is humbling for everyone, and makes us all reevaluate how we do business."An environment that nurtures innovation creates the foundation for success, according to Jacklene Chesler. For this director with Newmark Knight Frank's Capital Group, creating this environment takes collaboration and information-sharing with colleagues. Chesler also stays ahead of the curve in the commercial real estate arena by taking tips from other types of businesses. "I make it a point to keep up with how companies in other industries-technology companies, the film industry and other non-real estate sectors-maximize their business opportunities," said Chesler. "The experiences of these other companies provide an abundance of ideas that can make you much more productive." In that vein, Chesler is particularly interested in productively utilizing social networking sites such as LinkedIn, Facebook and Twitter to enhance marketing efforts. "The social networking phenomenon has even hit the commercial real estate industry, which historically lags in adopting new marketing technologies," Chesler said. She finds LinkedIn to be a valuable resource in helping establish professional credibility and developing business, "as well as enabling me to make new contacts and reconnect with older ones." Like many, Chesler feels the state of the economy is the biggest challenge facing the commercial real estate market in 2010. "Economic conditions tend to rule the mindsets of tenants, landlords, owners and investors-and for a quite a while, most of the news has been negative," said Chesler. Lately, though, "We are seeing positive indicators-some increases in sales and decreases in volume of properties in foreclosure, for example-that bode well for the future." Still, hurdles to recovery remain, she adds. Governmental economic stimulus programs have helped buoy the financial markets, and by extension the commercial real estate marketplace, "but we still have some basic challenges left to overcome when it comes to job growth, capital spending, and financing availability." Mainly motivated by "contributing to helping my clients and others achieve their goals," Chesler's goals for the immediate future include "achieving what any successful broker sets out to do-working on new projects, developing new business, and building long-term relationships." Key influences on Chesler's career have been "the people that have believed in me and pushed me to be a success," a group that includes Jerry Anderson, George Slusser, and Newmark Knight Frank colleagues Matt Schnurr and John Hoffman. Advice-wise, "Moving onward and forward is the best path to success," she notes, adding "Being adaptable and nimble is what will set you apart in this industry and in life." Innovation is a product of experience, risk-taking and seasoned instinct, according to Joan Matera Michalowskij, Capital Group senior managing director. "Innovation is a matter of taking the basic skills you've learned through experience and applying them to your current situation," Matera said, "and it often has to include having the courage to trust your instincts, and take some risks, to achieve goals." An individual's work environment is crucial to nurturing an innovative spirit, adds Matera. "I have been blessed to have been affiliated from the beginning of my career with exceptional real estate firms that have all provided enormous room for growth." Matera began her career "building deep technical skills" with Fortune 50 real estate firms, which included originations and transactions-"and I love negotiating and doing deals," she allows. More recently, her focus has shifted from the pure art-and-science of the deal to making relationships a priority. "Relationship building networking is critical in real estate," a shift which she says "has forced me to stretch out of my previous comfort zone-but is a natural evolution." Matera stays on top of the market by gleaning differing levels of information from a variety of sources. "The devil might indeed be in details, but not being able to see the 'big picture' can result in costly mistakes in judgment," said Matera. She lists her sources of big-picture trends as including quality newspapers, professional conferences, and participation in commercial real estate industry associations. "I also value communication with colleagues and friends from other businesses. Exposure to a wide variety of views is a great teacher." Matera feels that the biggest key to professional success over the long term is the ability to effectively deal with unexpected change. "Develop the ability to stretch your skill set, stay nimble and be willing to reinvent yourself to step up to new challenges." She finds real estate to be a challenging field. "Commercial real estate is so diverse, that I rarely become bored. The challenges cut across transactions, relationships and economic cycles." Matera said. "I constantly look for niches where I can make a difference to my employer. It satisfies my creative side." The biggest economic challenge facing the commercial real estate industry in 2010 is job creation," Matera said. The long view about today's economy, she adds, "is the knowledge that we will get through this difficult cycle, as we have in the past; it's a matter of time."