Real State with Jim
Not many people when they grow up think that one day they
will work in the Real Estate Industry. This was certainly true for one of my
managers Jim Barr. Jim came to the University of Cincinnati in 1988, as an
undecided major at the College of Business, and at the time where UC didn’t
have a college of business building and Sigma Sigma commons was still a desert
of a parking lot. Jim spent most of his undergraduate years exploring and
testing the waters of a variety of different majors from accounting to
engineering and found in conclusion to his search that wasn’t that” ah ha”
moment like most of his friends did when they declared their major earlier in
their undergraduate. “At the time there wasn’t much available as far as class
selection in the business school”, Jim said. “It was a basic curriculum, with
not as much variety as the business school has today”. Jim was in his senior
year and had co-oped with two companies in Cincinnati. Still in his final year
didn’t know what the next couple of years looked like for him. “I was a little nervous;
I had enough credits to graduate with business major, but still had no idea
what I wanted to do with my life. I sat down with my advisor, and still to this
day remember the conversation we had. I was freaking out and she said, “Jim,
you are twenty years old, you aren’t supposed to know what you in life, you
will work in a hundred different jobs in your life and probably in a hundred
different areas you never thought you would be in, the only way you will find
something is just be spontaneous and DO IT! Here is a list of classes that are
going to be offered in spring quarter, choice some that are different, remember
be spontaneous.” From that moment on Jim
had an open mind about school, he looked down at the piece of paper and saw the
first thing that caught his eye, “Principals of Real-Estate”. It was a new
class, Jim said. “I had no idea what it initialed but I was just doing what my
advisor said to do” And from that point forward, the beginning of Jim Barr’s career
in Real Estate started.
Jim and Real Estate:
Shortly after graduation, Jim Barr was hired by Phillips
Edison Company as a Jr. Leasing Agent. Phillips Edison Co. “owns and operates a
diverse portfolio of retail real estate assets across the country.” Phillips
Edison primarily owns grocery shopping centers. “My job at the beginning of my
career was working with short term leases with small businesses that are
located off to the side of anchoring grocery chains.” Jim said. (An anchor is
usually the largest part of the shopping center, usually a grocery store.
Examples are Kroger, Giant Eagle, Meijer, etc...) I really enjoyed what I was doing; I was with
a company that invested a lot in me and had a great company culture, Jim said.
I was in an industry that was continually growing company that had a great vision
for the future. After a couple years being at the company Jim, moved up through
the ranks holding various different types of positions at the company that involved
leasing, where he is now currently the Director of Leasing.
Real Estate Industry:
In recent years working in the field real estate at any capacity
was a difficult task due to the recession. When most people think of real
estate, they quickly connect to what is relevant in their lives, which for most
people is their house, apartment, and townhouse. And when the economic cashed
happened, millions homes were foreclosed on with a majority of the homes still
foreclosed on to. The real estate market was non-existent. People weren’t
buying because they didn’t know if tomorrow would be last day at work. The number
will never be exact, but millions upon millions of people around the world lost
their jobs due to the recession and buying real estate wasn’t the top priority
at the moment.
When the economic crisis came apparent, and the real estate
market started to make a plunge we had no idea what would happen to the
company, Jim said. The last time this event occupied was the great depression and
that was long before anyone in this company was alive. We thought we would have
to start making cuts like most companies were doing. We reviewed our current
clients and tried to figure out which companies would survive and ones that
might perish due to the rough times. We
came to the conclusion that instead of people going to “Jeff Ruby’s they would
instead go to Ruby Tuesday’s.” What actually happened was completely different
than we thought. Our properties and some of our largest clients actually made
more money than ever before. Our business actually grew in size during the
economic recession. People started cutting back on non-essential items, like restaurants.
People still needed to eat so they started going to the grocery store to buy
their food. The shopping centers had more traffic and most of the companies
that were leasing from us prospered.
Words of Wisdom:
Some of the final moments Jim and I had with our interview were
about my current Co-op at Phillips Edison. I asked him to give some pieces of
advice he thought would help in my career at Phillips Edison and for the
future. He said:
·
Never burn bridges with co-workers, clients, or
friends, it is important to be humble and courteous to everyone you meet from
the time you are in college to when you die, you never know where someone will
be in 10 years
·
Some things in life you can’t control, some days
will be rougher than others, the difference between people who are successful
and those who are not is solely dependent on your attitude, attitude is
everything
·
Never eat lunch alone for the rest of your
career, people bond over food, and one of the best ways to get to know someone
is to eat with them; get to know the people you work with, chances are you will
be working with them for awhile
·
Take a chance every day to stop what you are
doing and take a deep breath and pause for
moment, if you don’t one day you will wake up very old and wish you did
In conclusion the interview the interview with Jim went very
well. I got the opportunity to learn a little about him and also about the
company I’m currently working for now and in the spring for my Co-op.














