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NEXT GENERATION PROGRAM CONTINUES TO RALLY NEW TALENT

By Sascha Brodsky

Everyone knows networking is a key to success in the retail real estate industry.

But where does a person new to the business start making those vital contacts and learning the ins and outs of the profession? Well, ICSC’s Next Generation program is a promising option for promising people.

Alison Galgay will attest to it. She was trying hard to get into the business, and then someone suggested she attend a Next Generation event. So about two years ago she went to a cocktail party and networking session near Boston. “I was handing out my resume and telling everyone that I was looking for a job,” she said.

That was on a Thursday. By Monday morning Galgay had an invitation to interview for a position at a retail company. She got the job, which in turn led to her current post as a broker at Dartmouth, a Boston-based retail real estate brokerage. “Using Next Generation made the whole process so much easier,” Galgay said.

Her experience is far from unusual, participants in the program say. “The retail real estate world is all about cultivating new relationships,” said Adam Secher, a partner at Chicago-based Baum Realty Group and a Next Generation participant. “The more you do to foster those relationships, the further ahead you will get. And Next Generation is the perfect place for that.”

The Next Generation program was created in 2001 to help bring new talent into contact with retail real estate industry veterans. About sixty Next Generation local program committees are now in operation around the U.S. About 12,000 people have participated in the 70 local and 10 national events held annually.

“We’re ecstatic with the phenomenal response,” said Andrew Stein, vice president of development at Palatine, Ill.-based Joseph Freed & Associates. “It shows there has been demand for those looking to develop their careers in the business.”

Sources say Next Generation is gaining participants as its visibility rises. “I find that more people are reaching out to us and are more receptive about participating,” said Jason Richter, a leasing manager at New York City-based Thor Equities and a member of the program’s New York planning committee. “For me personally as well, Next Generation has opened many doors.”

Stein and Peter S. Eisenberg, a principal at Chicago-based Lake Shore Development Corp., came up with the idea for Next Generation. They now serve as co-chairmen of the national Next Generation Advisory Group, which develops growth and enhancement strategies for the program. The first Next Generation gathering, held in downtown Chicago in June 2001, drew about 100 participants.

Next Generation activities were first integrated into ICSC Spring Convention in 2003 with a reception and a session. It was so successful that it has become a regular part of the Spring Convention.

The increase in the number of meetings is not the only sign of advancement. The concept has been refined too. Originally aimed at professionals with five years’ experience in retail real estate or less, Next Generation now aims at those seeking help building their careers and forging relationships within the industry, whether their years in the business be many or few.

Thomas J. Phillips, a partner at Brown Rudnick, a Boston-based law firm, has been working in the industry for over a decade. He attends Next Generation meetings regularly and appreciates them. “They’ve resulted in many business opportunities,” Phillips said.

Phillips attributes some new legal business he has won to a referral from a co-committee member. He also says an invitation he received to join ICSC’s Northeast planning committee would not have happened without his involvement in the program. “It has opened many doors, exposed me to many new relationships at many levels and given me credibility,” he said.

Next Generation events can be more than just career enhancers, participants say. They also add measurably to their pocketbooks. Attending Next Gen events has brought in about $350,000 in contracts, says Steve Graham, principal of LFR, a San Francisco-based environmental consulting firm. Graham says he has gained eight clients through the Next Generation events he has attended over the past three years. “I’m a good networker, and Next Generation is a big help with that,” Graham said.

Good planning is behind his success at Next Generation events, says Graham. He finds out in advance who will be in attendance and then sets up meetings with potential clients. “At the more informal receptions, I will just go up to people I have targeted and start talking to them,” he said.

And even though Alison Galgay got the job she longed for through Next Generation, she has no plans to stop attending these events. “I generate client leads all the time through Next Gen,” she said. “It’s a great tool to have in my toolbox.”