Alexander Lazo
Commercial Real Estate Broker
An MBA graduate from the University of Miami, focusing in Capital Markets, Commercial Real Estate Development, Mergers and Acquisitions, Investment Sales, and Finance. He has extensive experience and background in Supply Chain and Operations. He also interned at Newmark Knight Frank, working in Capital Markets – Multifamily and Investment Sales. Alexander currently works full time as an Investment Associate at Franklin Street specializing in the investment sales of commercial office and retail properties. He closed over $60 million in CRE transactions.
- Associate, Retail Investment Sales at Franklin Street
- Miami Herbert Business School ‘20
- Penn State University ‘16
I have my bachelor’s degree from Penn State University in Supply Chain Management and Operations and Information Systems, with a minor in Finance. My first job out of college was at Lutron Electronics–a worldwide leader in lighting controls. I was a Supply Chain Project Manager in charge of the supply chain architecture of new product launches. After that, I got into the residential real estate market in Pennsylvania. Then, I moved down to Miami to pursue my MBA at the University of Miami, with a focus in Commercial Real Estate and Finance. During my time in the MBA program, I had the opportunity to work with Newmark Knight Frank on their institutional multifamily capital market investment sales team where I truly got my first taste and exposure to the commercial real estate industry. That is when I truly fell in love with the industry and lifestyle. Now, I am a Senior Associate and Broker at Franklin Street, a prominent and growing firm. I lead the South Florida Retail and Office Investment Sales team. Aside from working on deals on a daily basis, I have also been tasked with the expansion of our South Florida footprint as we try to grow our presence in the Commercial Real Estate Market, specifically Miami Dade, Broward, and Palm Beach County.
When COVID-19 arrived, no one truly knew how to react or how the market was going to react during unprecedented times. The market slowed down as investors and firms were less keen on taking risks on their investment strategies and acquisitions, therefore affecting the brokerage side of the business. Slowly over the year, this proved to be a positive as South Florida took advantage of the unknown. Investors and large firms started looking at South Florida as the ideal place to not only buy real estate but also develop and move companies to this area. Now, we have not seen a market this hot in decades. Properties are trading at all-time highs in terms of Cap Rates and Price Per Square Foot due to the large demand and movement down here in South Florida. We can see how this has affected us in our day-to-day lives with the large increases in residential rents. I see it as an incredible opportunity. South Florida decided not to slow down, but to increase the amount of investment not only in property but in the area as a whole. We are starting to see this area become one of the main business hubs in the world, and this directly impacts commercial real estate.
At this moment, if investors are looking to buy trophy property in South Florida, investors are going to be paying a large premium because of the low supply and high demand. A smart investment strategy is to search for products in less established neighborhoods with a value add component. Value add means a few things, such as low occupancy, lower than market rents, and exterior/interior renovations needed to be done. By buying up these types of properties, investors can then put the work in themselves, lease them out to new tenants, and increase the rent to market or above market, resulting in a larger return with a lower investment, in contrast to a trophy property in a well-established area with no value really needed to be added.
Research, research, and more research. Looking at everything in a property (financials, certifications, zoning codes, demographics, comparisons), is the most important aspect of evaluating a commercial property. You need to know everything involved with that property (what’s right, what’s wrong) to know where your money should be invested. Don’t forget to research the area as much as possible and understand what the area is going to be in the future. It is a lot like doing research on a business before you buy a stock. My best advice is to hire a Broker. A good broker. It is our job to do all that work for you, and it is our job to know the market better than anyone else in the game. This is where we add value.
I have been fortunate to have many people in my life that have mentored me along my journey to where I am now, including coaches, professors, bosses, and friends. But the main constant who has been there along each step of the way has been my father. My dad has always guided me in every decision, no matter how small and insignificant or how large and life-changing. One thing that he taught me that resonates with me still, is “always do the right thing.” There are moments where it is easy to succeed if you do the wrong thing, take a shortcut, or even end up hurting other people for your success. Sometimes those opportunities are extremely tempting because we ourselves are naturally selfish. When I encounter these tough decisions and temptations, I always seek my father. He always says the same thing, “do things the right way, don’t hurt anyone for your benefit, things will work out in the end if you keep on focusing and you work hard but always do it right.” Having somebody I can turn to and rely on in difficult decisions is invaluable, and I am really lucky to have someone like my father in my life.
As an organization, we place a strong emphasis on every person being equal. No matter what your title is, your years of experience, or how talented you are, if you have a creative or great idea, we want you to voice it. We want every single staff member to have their voices heard. That is truly where great ideas come from. Because of the positions people carry and their different experiences, everyone sees different problems in a different light. And there are often several ways to address or spot a problem. These different problems call for different solutions, and different viewpoints add value to this process. So, great ideas to continue improving come from every single individual ranging from an intern all the way to the CEO.
Naturally, we come to get this great idea based on what we see, who we meet, and who we talk to. So, the greatest ideas come from the individuals that put themselves out there, conduct the research, and talk to the experts in the field. My advice is to not wait until you have a great idea; go find the experts in the field, do some research on what you are working in, do not be afraid to voice your opinion.
Our core values are often repeated in all our meetings and even in the packages that we send out to our clients. It is extremely important for everyone to be on board and see the full picture.
One thing that my organization has done an excellent job of is something we call “Monday Morning Wins”. Every Monday Morning at 9:00 AM, every single employee in the company (300+) jumps on a zoom call where our CEO takes 30-45 minutes celebrating all the wins our company has had. Wins can range from a huge deal closing to an employee having a baby, to a fitness achievement, and even just a “great work supporting the team” message. You can email nominating people for wins and every single win will be celebrated by our CEO and he will personally congratulate every positive thing you do in front of the whole company. We celebrate birthdays, anniversaries, even a low score in golf, and this goes to show how much our CEO and top-level management cares. It shows they are willing to take time out of their day to celebrate even the smallest achievements company-wide.
I set personal goals for myself. For example, I have a goal to be the top broker in my field in the State of Florida. That keeps me going. It is something I genuinely want to accomplish, and I know how to get there. So getting to work every day, to get one step closer to that, keeps me motivated. Plus, I have staff that believes in me and trusts me. I do not want to let my team or company down. This means being there to collaborate and listen to them. And, more importantly, to support them as a person, not as their boss. Altogether, this provides a great recipe for keeping me motivated while keeping things in perspective.
We set an example as leaders in the organization. If I do not put in the work, the focus, and the will to succeed, new employees will follow that. If they see me put in the work and know that I care about their personal growth, they are going to want to put in the work too. The best bosses we have in life are the ones that are hardest on us. Why? They are hard on us because they know what we are capable of and they know that if we step it up, the sky is the limit. When my boss would get mad at me, it wasn’t because he hated me and wanted to make my life miserable. It was because he knew I could do better work because he knew what my goal is and what it takes to get there. We care and sometimes that involves tough love. We need to set an example as leaders and push our staff to what we know they are capable of.
Surround yourself with the right people, and I cannot stress this enough. It is like the old saying “You Never Want to Be the Smartest Person in the Room” and that is 100% true. When you surround yourself with intelligent people, you learn from them and strive to improve yourself. There is a drive that comes alive within yourself because you see what success looks like.
This goes for any company, but communication is the biggest roadblock and the one thing I would focus on. Problems arise from miscommunication. Odds are that the solution already exists, but it is never communicated property.
Being in sales, communication is everything. We have a commitment to our clients to perform, so we must communicate to land a listing, to sell a listing, and to close a listing. There are so many things that can go wrong if a piece of information is not communicated properly. This not only applies to my business but also in every area of life (friendships, relationships, ordering a product, etc.).
Leaving a comfortable corporate job in Philadelphia with barely any money in my bank account to move to a new city in Miami, and not have a job for two years to pursue my MBA and my dream job. It was not an easy decision, but life is too short to think about it. I had a dream, and I was going to accomplish my dream no matter what. It was not going to happen by sitting around and waiting. You have to go out and get it. It is scary not knowing how you may pay a bill or what is going to happen, but you have to have a positive mindset and take it day by day. Keep going and don’t quit. You can accomplish your goals, but you have to take risks.
Loyalty, commitment, and focus. These three things are deal-breakers for me. I need to be able to trust you – trust you to get work done, trust you in what you say, and trust you in what you do. I will be loyal to you, and you can trust me, but it works both ways. We are in this together.
There needs to be a commitment in our relationship. If I am going to lay it all on the table and give it my all, I need the same from a partner. You need to want it as bad as I do. This requires absolute focus. You can be loyal, and you can be committed, but we have to put our heads down and focus on the goal, focus on the steps to get there and focus on the execution.
I took advantage of a window of opportunity. My career launched forward because there was a tiny window of opportunity to be thrown into the fire, and I took it and ran with it. I knew I was going to be challenged, but I did not care, because I knew an opportunity like that might never happen again.
Do not be scared, because if you have the skills, then you will learn and adapt. There will be headaches and obstacles along the way, but that is all part of the journey. Take that opportunity and run with it.
The opportunity to meet like-minded driven individuals who have ambitious goals as myself, grow my network and establish professional as well as personal relationships. Allies Everywhere help me advance my career and grow as a person. This was a chance to meet people, who Imight’ve never met anywhere else, who themselves are successful in their lines of work, and offer a different perspective or idea that I may have never even thought of. I am happy I joined, and it is already paying dividends.
Allies Everywhere is a private membership club for ambitious young professionals. For inquiries, please reach out to our Founder Matt Burke at matt@allies-everywhere.com. Check the website: https://allies-everywhere.com/