(L-R: Shay Carson Onorio, Susan Bourgeois, Emily Gagliardi, Vanessa Mendoza, and Jennifer Price)
Following a long stay at the Gaylord National Resort and Convention Center in Maryland, this year’s edition of ICSC’s Mid-Atlantic Deal Making session found a new home at Marriott Marquis Washington, DC, which hosted a highly-condensed version of its former self in a bifurcated convention space. With participants acclimating themselves to the new surroundings, most appeared energetic and enthusiastic, though attendance seemed substantially diminished from previous years.
Bohler’s Andrew Finkelstein welcomed the new scenery along with the “opportunity to explore new hotels and wonderful restaurants in downtown DC.”
Among the highlights was a highly-genuine and often profound discussion titled, “Women in Commercial Real Estate: retrospectives and fresh perspectives,” with speakers including Susan Bourgeois, Executive Director of Leasing & Brokerage, Rappaport; Emily Gagliardi, SVP, Head of Leasing, East and Central, First Washington Realty; Vanessa Mendoza, Senior Director, Mixed Use, Federal Realty Investment Trust; and Jennifer Price, Principal, KLNB. The session was moderated by Shay Carson Onorio, President & Owner, Red Thinking.
“The one thing that was drilled into me while I was growing up was that women can have it all,” said Bourgeois. “Well, I am here to tell you, after a long career, that premise is extremely false. And in my case, I am perfectly fine with that, because that is not who I am or care to be. And I am incredibly happy with my personal and professional life.
“I made the decision early on not to manage people, because I realized the pressure and time commitment of that endeavor. It was difficult enough performing my job at a high level and then racing home to take care of my family.”
“Everyone has many important things vying for your time every day, and I will name five: your spouse, your kids, your job, your friends and even yourself,” Gagliardi said. “On any given day, you really need to focus on about three of them and place a lower priority – but not dismiss – the other two. It is extremely critical to find time to take care of yourself, which is why I carve out one day each week to come home and work out alone and recharge. This practice truly makes a difference both mentally and physically.”
The retail real estate industry has “grown up”
It is incredibly unfair, but different standards exist when it comes to men and women in the business world, and that includes the retail real estate industry.
“For women, there is a tricky balance between coming off as being bossy rather than assertive,” Bourgeois said. “My advice is to always be authentic and then you will never have a problem. My leadership style has completely evolved and changed from when I started my career. Early on, I was constantly jockeying for position and wanted to be heard, but later I learned the importance of sitting back and taking a more democratic view on certain topics.”
“The retail world has changed dramatically in my career, and the industry has definitively grown up,” Price said. “Upon entering the industry, I had this idea of always being bright-eyed and smiley all the time and truly, like others, I craved to just be liked. I worried about coming across as not being intelligent, possibly after asking a misplaced question.
“But now I realize that is perfectly OK to say you don’t know the answer,” she added. “In fact, you generate a tremendous amount of respect when you admit that, and promise to research and find the correct answer. Women, I believe, spend a lot of time worrying about what people think of you. But I also believe that these thoughts are not really accurate at all and they are only in your head.
“With success comes confidence. Now, when someone appears to be bullying me, I stand up for myself and will not allow that to happen. It is also critical never to appear nervous or rattled, because people sense that and detect blood in the water.”
Need a great club? Then form your own.
Moderator Onorio accentuated the importance of becoming a serial networker, especially when first embarking on a career, and then asked session attendees “which organizations they belong to” for education and guidance.
After some uncomfortable silence, Mendoza offered sound advice that the entire group immediately agreed with: “Start your own club,” she said.
“I am part of a group of young mothers in their 40s, and I also belong to a club featuring executives working with development groups and landlords and I lean on both often,” Mendoza explained. “Everyone in my circles gets it, and they are quick to comfort and provide advice. Women, it has often been said, are tremendous listeners and they truly hear what people are saying. That makes a tremendous difference when solving problems.”
Don’t get too comfortable or be afraid of taking a risk
The group cautioned attendees about the dangers of becoming complacent in a job, or getting stable and too comfortable, a situation that could limit growth.
“It is not easy to move to a new company, because this could expose a weakness that was not previously apparent, but to further your career, many times this pivot is a necessary step,” Mendoza said. “I know these moves have worked out tremendously well for my career, when staying put would have been the easier and less risky decision.”
Realizing the benefits of experience
“The imposter syndrome is very real, and for many of us, we have difficulty admitting that we have achieved long-term success,” Gagliardi said. “But there are also true advantages of getting older and having a track record for success. I find that I can come out of my shell a bit more, and people can see the personal side of me, which is comforting.”
Price added that it is very important to be “true to yourself” and exude confidence. “I am incredibly lucky to be working with amazing people and an amazing company. We respect each other, which is vital.”
Finding the right mentor
Learning and gaining experience from observing the perfect mentor is something that everyone should aspire to, a number of people in the group said.
Gagliardi related the story of a mentor who practiced role playing to improve her team’s negotiation skills. During one actual negotiation at a point early in her career, a person attempted to “go around her” in a tactic to start a dialogue directly with her supervisor to achieve a desired result. This mentor spotted the plan and promptly sent the person right back to Gagliardi. “She empowered me to get the job done, and I learned a lot by handling things myself,” she said.
“This business is incredibly difficult, but there is a spot for everyone that works hard,” Bourgeois said. “The challenge is figuring out where you fit in and making yourself valuable.”
Larry Lichtenauer is President and Founder of Lawrence Howard & Associates, a boutique public relations and marketing agency that focuses on the commercial and retail real estate sectors.
