By Elizabeth W. Pearce
It’s not easy to find a full-service, commercial brokerage in Southwest Florida that’s not affiliated with a much larger, global entity. By now, most smaller independents have either been absorbed by mega brokerages or squeezed out of the marketplace entirely. But based on the early success of LandQwest Commercial in Fort Myers, reports of the independent broker’s demise have been greatly exaggerated.
In just over a year, LandQwest has accumulated a sales and leasing portfolio of more than one million square feet of commercial space, with just under one million square feet under management. Clients include local, regional and national commercial tenants and owners, as well as investors, developers and builders. What’s more, the company’s commercial presence now extends to Tampa, where it has an office with six local agents.
Founding partner John Mounce attributes the firm’s strong footing to its focus on quality over quantity. “It was never the plan to see how many agents or listings we could accumulate, or to have our sign on every piece of property in town,” says Mounce, a 21-year Fort Myers resident and commercial real estate veteran. “Our program was to establish a platform and bring on a few people who could help the business grow in the right way with the right methodology.”
A Stellar Start
Having spent half of his commercial career as a retail specialist for one of the state’s largest commercial firms, Mounce’s reluctance to start a brokerage was overshadowed by a desire to do things his way. Rather than work out of an executive suite and try to enlist agents, Mounce recruited some of the area’s top broker associates through industry contacts. They include:
•Stephen A. Cunningham, MAI. For the last 30 years, Cunningham has lived in Fort Myers and worked in real estate. His background is uncommonly diverse and features 25 years of experience as a certified real estate appraiser. During that time, he spent considerable time in litigation, testifying as an expert witness in eminent domain hearings and other court proceedings. For the past 15 years, he has served as a Special Magistrate for the Value Adjustments Boards in Lee and Collier counties. Based on his experience, Cunningham understands the perspective of developers, brokers, landlords, tenants and others, and therefore works with a wide range of commercial clients on a statewide basis.
•Todd E. Fishburn. Fishburn has been involved in the Fort Myers commercial market for more than 25 years, specializing in office, industrial and retail leasing and development. His recent development/leasing projects include The Park Shoppes at Andrea Lane (fully leased within 8 months of groundbreaking to tenants such as Bonefish Grill, Sprint, Eva Boutique and others) and Daniels Falls, a 200,000sf office/retail project now under construction on Daniels Parkway.
•Don Gross. A long-time resident of Southwest Florida, Gross began his real estate career working for a national homebuilder. He has also worked in advertising and marketing, enabling him to understand the needs of tenants, as well as retailers. At LandQwest, Gross specializes in retail and land acquisitions for expanding and relocating businesses. He is a member of the International Council of Shopping Centers (ICSC) and Commercial Investment Professionals (CIP).
•John D. Jones. Jones is a Fort Myers native with a long and impressive retail resume. For nearly 30 years, he has worked in nearly every facet of retail, including development and construction of facilities up to 250,000sf. Career highlights include managerial and executive positions for numerous national retailers such as Levitz Furniture, Barnie’s Coffee & Tea, Blockbuster Entertainment and most recently, Cold Stone Creamery. State-licensed as a broker since 1981, Jones is a member of ICSC and other real estate-related organizations.
•Tom Strauss. Beginning in Ohio, Strauss has worked in commercial leasing, development and property management for nearly 20 years, and is a long-time ICSC member. His retail expertise includes tenant representation, site selection, leasing, construction and facility management. He was also director of real estate for a publicly traded retailer. His vast experience makes Strauss a natural to work with LandQwest’s many retail clients.
Gross and Cunningham were the first to sign on. Having worked for other large commercial firms in the area, Cunningham says he wasn’t interested in working for a traditional brokerage house. He saw something unique in LandQwest.
“I think that as a small company, we’re better able to analyze clients’ goals and help them solve problems. It’s not about signs and listings, it’s about meeting clients’ needs,” says Cunningham. “At LandQwest, we seem to attract the type of clientele that appreciates our hands-on approach. I really enjoy helping them decide what’s best for them and their business.”
Other key staff members include Mary Tardiff, who serves as operations and assets manager (see box), and Marketing Coordinator JoAnn Greenlee. Before joining LandQwest, Greenlee worked with Mounce and Fishburn at a large, local brokerage. At LandQwest, she is responsible for all internal and external marketing including maintaining current Web site content, assembling marketing packages and coordinating advertising, among other duties.
Services & Clients
“We don’t want to be considered a boutique,” says Mounce. “But at the same time, we don’t want to be the kind of company where callers end up talking to everyone but the broker they’re trying to reach because that person is too busy.”
As a mid-sized, independent organization, LandQwest targets clients who prize personal service and expert assistance in transacting commercial deals. And while the name may suggest otherwise, LandQwest does much more than broker land. The firm also provides a full range of professional services including:
• Retail, Office, Industrial, Sales & Leasing
• Site Selection
• Tenant Representation
• Preconstruction Consultation, Leasing & Management
• Investment Sales & Acquisition
• Land Acquisition & Disposition
• Market Research
• Space Planning
• Property Management
Major retail clients include Lowe’s, Sweetbay Supermarket, Office Depot, McDonald’s and Darden Restaurants, to name a few. Most are based out of state and seek experienced representation in the local market. Although LandQwest rarely advertises, clients find them, usually by referral. In some cases, repeat customers have prompted LandQwest to expand into other emerging Florida markets, such as Sebring and Lake Placid.
For example, one of the new construction projects that LandQwest represents in Sebring is for the developer of Market Square, which Mounce preleased in 2005. Located at Daniels Parkway and U.S. 41 in Fort Myers, the center boasts heavyweight tenants such as CompUSA, Petco and World Market, among others. In Collier County, a referral from Sweetbay helped LandQwest land the site selection work for McDonald’s.
“(Mounce) is the only broker I’ll recommend to anybody,” says Ryan Waddell, real estate manager for Tampa-based Sweetbay. “Most brokers try to sell you their listed properties instead of listening to what you need. John is exceptional because he tailors the transaction to what works for us, not because he can get a commission on it. That’s very unusual to find.”
Waddell met Mounce in the fall of 2004, just after moving to Florida from New England. “I knew nothing (about Florida real estate),” Waddell admits. “I was new to Florida and needed an education on the market. John showed me the lay of the land. He’s been a tremendous asset to us down there.” Since then, Mounce has brokered four sites for Sweetbay in Lee County and two in Collier County, with more to come.
As a late entry in an established market, Waddell says it’s been a challenge to come up with good sites for new stores. Currently, there are 109 Sweetbay and Kash ‘n Karry locations on Florida’s west coast, from Gainesville to Naples. “We’re at a competitive disadvantage from a real estate standpoint, but (Mounce) has his ear to the ground at all times.”
As is the case with many site selection clients, Sweetbay’s developer often chooses LandQwest to lease the remaining space in its local grocery-anchored strip centers. To ensure a center’s success, Mounce works far in advance. The key, he says, is synergy.
“Before you ever start leasing a retail center, you should have a good idea what types of tenants will be in there, rather than specific tenant names,” says Mounce. “Too often, brokers put up a sign after the center is built, hoping that someone will fill the space. Unfortunately, poor planning usually results in an inappropriate mix of tenants, who may or may not be properly positioned within the center.”
He’s especially wary of those who call to say they have the perfect location for a specific tenant. “That’s rarely the case. It’s our job to figure that out.”
To expedite the process, LandQwest provides its agents with the latest high-tech equipment, software and subscription services. Using a comprehensive commercial database and Regis mapping software, for instance, LandQwest agents can easily access the market data, demographic studies, multi-layered graphics and maps, and other components needed to generate professional marketing materials in-house.
“Not every firm out there has the capacity to do all that, but our clients demand it. They are very sophisticated,” Mounce notes. They tend to be very loyal, as well, even though they’re rarely bound by formal exclusivity agreements.
“I think it’s a disservice to your clients to make your revenues their priority,” says Mounce. “I am totally convinced that if you do what you do, and you do it consistently and honestly, you’re going to do well in this market.”
While Mounce says he’s pleased with LandQwest’s first year in business, he remains focused on the bigger picture. “There is no ego here to be the largest firm in town, but there is a definite desire to be considered the best. And I think we can accomplish that.” -
LandQwest Property Management Services
Most commercial real estate owners realize that professional property management can preserve the value of their investment. However, Mary C. Tardiff believes that superior management can actually enhance property values.
As LandQwest’s director of asset management, Tardiff oversees the company’s property management division, which handles all accounting and bookkeeping duties. In addition to providing comprehensive property management services to LandQwest’s commercial clients, Tardiff and her staff also service third-party commercial accounts.
According to Tardiff, truly effective property managers should do more than basic building maintenance and repair. They should also be committed to reducing owner expenses, maximizing income and encouraging good landlord/tenant relations.
The Jacksonville native is well suited for this complex task, with more than 10 years of experience in property management, lease administration and marketing. A member of the International Council of Shopping Centers (ICSC), Tardiff has worked for some of the nation’s most respected names in commercial real estate.
She began her career as marketing director for Simon Property Group’s Melbourne Square, a 1 million-square-foot retail center in Melbourne, Florida.
From there, she moved to Ohio, where she worked for the Cafaro Company as assistant director of marketing for the 3.1 million-square-foot Eastwood Mall Complex. She was also property manager and lease administrator for Landmark Property Management, which oversaw 1.2 million square feet.
“Mary is quick to respond to problems and is extremely detail-oriented,” said Landmark America President Bob Delisio, who hired Tardiff to manage his and his company’s numerous investment properties. “One Friday, there was a water main break at an office building, and she stayed there all weekend overseeing the repairs so that our tenants could get back into the building on Monday. She’s a very hard worker.”
Although Tardiff has since moved to Fort Myers, through LandQwest she continues to manage retail and office properties for Delisio and other commercial clients.
Currently, LandQwest Commercial’s management portfolio contains approximately one million square feet of retail, office and industrial space throughout Southwest Florida, the Midwest and New England.
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