Executive of the Month: Nicolla, president of Columbia Development Companies; Never forget who your customer is

The New York Real Estate Journal recently sat down with Joseph Nicolla, president of Columbia Development Companies, for a question and answer session. Q: How did you get started in the commercial real estate business? A: When I graduated from Rensselaer Polytechnic Institute with a degree in civil engineering, I had three job opportunities. One opportunity was to design aircraft in California, another was to work in the energy business in Texas, and the third was to work for an entrepreneurial company called Pyramid that had just started building shopping centers throughout New York. I chose to work for the developer and was able to work on various projects throughout New York State. From there I took on a project manager role for Edgewater Companies at the IBM Park in Kingston, NY. At the time, the pace of development at IBM mirrored the rapid pace of growth in the computer industry, and the complex eventually grew to 2.5 million ft. of space. I had the opportunity to meet some great people during my time at the IBM projects. This is where I first briefly met Don Led Duke from BBL Companies, who years later would become a mentor and business partner. Most importantly, it was on those IBM jobs that I learned how to figure out big complex projects with little guidance. Q: When was Columbia Development Companies founded? How has the company changed since then? A: 1988, so we are celebrating 25 years in business. The company started like many start-up development enterprises. We worked on smaller deals and were initially developing 10,000 to 12,000 ft. buildings. That changed as we built good relationships throughout the industry, and in particular, a business relationship with The Galesi Group allowed us to develop much larger projects early on. In the early 1990's we developed 500,000 s/f of office space known as Columbia Circle Park on land Galesi owned. In under ten years we were able to develop and finance very large projects on our own. We developed 677 Broadway in downtown Albany, the first new privately developed class A building in decades, which is now a gem in downtown and always fully occupied. We developed 400 Patroon Creek in Albany on prime land between I-90 and the University at Albany that many people thought was unable to be developed, but we successfully built a mix of commercial office, health care, banking and high end residential. Q: What sets Columbia Development Companies apart? A: We've earned a reputation for taking on large challenging projects and have an ability to resolve site issues where others have failed. A recent example is our complete overhaul of historic Wellington Row in downtown Albany into office, residential and retail. Next door, we are transforming the former DeWitt Clinton Hotel that ceased operations in the 1970's into a 200 room Renaissance by Marriott. These projects are providing a huge boost to downtown Albany. What industries does Columbia Development service? A: We work in commercial office, retail, hospitality, education, technology, health care and residential. We have also had particular success in the various downtowns in the Capital Region - Albany, Troy and Schenectady - where we have built a variety of projects and maintain long-term investments. We have been particularly successful in helping clients whose industry is changing. Our work in health care has been particularly transformative, putting health care practices and synergistic businesses under one roof or in areas of population growth that need access to medical facilities. The work we have done for Albany Medical Center has been incredible, revitalizing the entire neighborhood around them. Q: What unique qualities does you firm offer to potential clients in Upstate New York? A: We have a process that is the cornerstone of our success. We developed a comprehensive method to identify each component of the process and its relationship to the whole, from feasibility to design to construction to property management. We are known for helping companies who want to enter various New York markets. An example is our recent work with Shop Rite Supermarkets, opening a variety of stores throughout the Capital Region in a very short amount of time. It was a complex challenge to find the right locations, as well as deal with things like layers of local governments and neighborhoods. They have had great success here and we're looking forward to doing even more. Q: What is the project footprint of Columbia Development Companies? A: We have developed millions of s/f of real estate valued at over $1.5 billion. We serve the Northeastern United States, with a majority of our projects located in the Capital Region of New York. We are a diversified real estate and development firm that designs, finances and builds projects for clients, as well as owning and managing our own portfolio of properties." Q: What is the best advice you ever received? A: Do the right thing, you can never be blamed for it. Q: What role does Columbia Development play in the community? A: Everything we do starts with our firm's commitment to the communities we serve. We transform neighborhoods and have developed some of the most iconic real estate in the Capital Region of New York. We also have a commitment to giving back and corporate responsibility. We have raised hundreds of thousands of dollars each year for organizations like the American Cancer Society, American Heart Association and Police Athletic League (PAL), as well as institutions like Albany Medical Center and Rensselaer Polytechnic Institute (RPI). In one event for the Heart Association, we raised $450,000. We are also supportive of the Stranded Soldier Program, where we provide free hotel rooms and transportation for U.S. military personnel laid over at Albany International Airport. Q: What does the future look like for your company? A: It's an exciting time to be in this industry. We have many large scale and complex projects we are tackling right now in a variety of sectors. The transformation of the Albany area into Tech Valley because of the pioneering work being done at the SUNY College of Nanoscale Science & Engineering is creating an innovation economy that has meant more private sector investment and opportunity. These changes are a perfect compliment to the stable industries that have existed and thrived in the Capital Region. Q: Rules to live by in business? A: Never forget who your customer is, because without them there is no business. Treat them fairly, provide good value, and solve their problem before they know they have one.