Real Estate’s 10 under 40
Every business magazine sports an “X Under 40” list celebrating precocious professionals. But, really, isn’t it almost always youthful drive and optimism that feeds the engine of progress?
The stories of Chain Store Age’s 2017 list of over-achievers under 40 abound with examples of young people from different disciplines who all discovered retail real estate as the perfect channel for their passions.
There’s the accountant who went to work in investor relations for a REIT and now helps select new properties for one of the industry’s fastest-growing acquirers. There is the retailer who started in construction and rose to senior director of real estate at a growing national chain.
There’s the lawyer who went to work for a concrete company, was asked to manage its real estate holdings, and is now director of development for a REIT with properties nationwide. Read on and meet this year’s full superstar roster.
Keith Lampi, 36
President, director and COO
Inland Private Capital Corporation
Oak Brook, Ill.
Lampi went straight from college to Inland Private Capital Corporation. He has been there for 15 years, working his way through all the specialties: asset management, acquisition analysis, finance and marketing. “Working in the different pockets of the business has enabled me to understand how the pieces fit together and has provided me with a well-rounded perspective on the business,” he said.
Like many, Lampi ranks e-commerce as a key challenge in retail real estate today.
“It is something you have to watch carefully,” he said. “Some tenants may shift away from brick and mortar, while others will leverage e-commerce to drive traffic into brick-and-mortar stores.”
“There are many brick-and-mortar markets that continue to strike a healthy balance between new supply and operator demand. Those are the markets that we target.”
IPCC seeks grocery-anchored centers or long-term triple net lease properties, in which tenants pay rent, operating expenses and real estate taxes.
“Retail investing is a fluid and dynamic process,” Lampi said. “We find value by sticking to traditional real estate fundamentals and being research-driven, nimble and innovative. I think that’s what enables us to succeed.”
Lampi also believes it’s important to give back to the industry, and is active in the Alternative and Direct Investment Securities Association. He has served on the ADISA board of directors since 2014 and is president-elect for 2017.
Yet, Lampi’s prime professional motivation comes from outside the office. “It’s all about fatherhood,” he said. “I try to spend as much time as I can with my wife and three boys. My boys are athletes, and I enjoy following their athletic careers. For myself, I love skiing and running. But in the end, with respect to how I spend my free time, all roads lead back to fatherhood.”
Ryan O’Sullivan, 38
VP Real Estate
PetSmart
Phoenix
After graduating from Arizona State University in 2003, O’Sullivan worked as an intern with a brokerage firm. His responsibilities included research, mapping and assisting with deal making. “I learned the basics of real estate and geographic information systems (GIS), which are important in the real estate selection process for stores,” he said. “My GIS skills helped land me a position with PetSmart as a real estate research analyst in 2006. “I traveled across North America, studying markets and meeting many real estate professionals. The experience gave me a passion for becoming a real estate deal-maker.”
Today, O’Sullivan leads PetSmart’s real estate function with the goal of helping to enhance the company’s position in the marketplace. “We are continuing to strengthen our network of brick-and-mortar, online and mobile platforms. I feel fortunate and energized to be working for a growing retailer,” he said.
O’Sullivan has developed a personal liking for the real estate side of retail. “I value the relationships one can build in our profession, and I see every meeting or negotiation as a chance to start or strengthen a partnership.”
Of course, every industry has its challenges. What challenges are facing today’s retailers?
“One of the biggest challenges involves identifying what we must do to adapt to the new demands of modern consumers,” O’Sullivan said. “While online retail is expanding, we think that retailers that continue to provide store environments and customer experiences will not only survive, they will win through a strong combination of brick-and-mortar, online and mobile platforms.”
The key, O’Sullivan said, is “maintaining a balance by continually assessing and taking the pulse of the real-time changes affecting the retail space and adjusting to those changes.”
Danielle Brunelli-Albrecht, 35
President and Principal
R.J. Brunelli & Co.
Old Bridge, N.J.
Brunelli-Albrecht may be but 35 years young, but boasts 20 years of experience in retail real estate. Her father founded R.J. Brunelli & Co. 40 years ago, and she started doing market research for him as a teenager.
When she was 18, she obtained her real estate license, headed to the RECon show in Las Vegas and pitched and won her first account: Sally Beauty Supply. That qualified her as a star student at Monmouth University in New Jersey, where she graduated with a certificate from the school’s Real Estate Institute.
“After graduating in 2003, I worked as a salesperson on tenant representation accounts and landlord property listings,” she said. “I am competitive by nature, focused, and take great pride in the reputation my company and I have created and live by.”
Last year, Brunelli-Albrecht was elected to the New York ICSC Real Estate Committee.
John Caulfield, 36
SVP Finance
Phillips Edison & Co.
Cincinnati
After earning bachelor’s and master’s degrees in accounting from Xavier University, Caulfield set about building a business career in Cincinnati. He started in public accounting before working for the local telephone company, working his way through virtually every finance-related department, from accounting to investor relations.
After a few years, the phone company spun off a data center REIT. Caulfield served as treasurer and head of investor relations. When the REIT moved to Dallas, Caulfield decided not to uproot his children and family and began looking for a Cincinnati company that wanted his real estate experience. Phillips Edison grabbed him.
“Our group helps analyze real estate finance decisions from leasing and redevelopment to strategic planning,” he said.
Caulfield also helps drive Phillips Edison’s dramatic growth movement. The company — No. 1 on Chain Store Age’s Fastest-Growing Acquirers (page 52) this year — bought more than $875 million in real estate last year and is on a similar track this year.
Zach Minteer, 36
VP of Real Estate
Five Below
Philadelphia
Minteer grew up baling hay on his family’s farm. “It was hard work, and it gave me a strong work ethic,” he said.
After graduating from Penn