MNCAR – Monthly Spotlight- Stuart Ackman
1.Why did you join MNCAR and how long have you been a member?
I joined Minnesota Area Association of Realtors which was the predecessor of MNCAR in 1986. In the mid 1990’s there was a realization that there needed to be an organization dedicated specifically to commercial real estate needs allowing for our own governance, education, forms, and dedicated listing platform. When I joined in 1986 the listing book came out weekly in paper. Can you imagine? I am eternally grateful to past presidents and boards who have steered MNCAR into the robust organization it is today. In a world where things constantly change the MNCAR team provides excellent programing, property data through its partnership with Moody’s, and overall governance of 1200 members.
2. Something that took you a long time to learn in the CRE industry?
The balance between allowing enough time for percolation and the need to move things along. Too much of either will let things slip by or cause strife with the client or prospect. Anticipating what can go wrong and prepare yourself and your client for the possibility before it happens.
3. What do you enjoy most about the CRE industry?
The relationships we form, with our clients, colleagues, and fellow members. I don’t know of another industry where brokers (sales people) compete like crazy for clients and listings and in the next moment rely on each other to have good business practices and be reliable sources of information so we may represent our clients who they were just competing for.
4. Any advice you have for someone considering the CRE industry?
It’s an exciting industry, one loaded with challenges, uncertainty, and rewards. Look for opportunities to use your knowledge to own real estate.
5. What’s the next place on your travel bucket list?
My daughter and I have talked about a trip together for many years, the destination started out to be India, and then Japan. We are now considering Amsterdam and either Prague or Istanbul. Which do you think we should pick? Prague or Istanbul.
6. Any other fun information you would like to share?
I traveled widely in my youth, living in Australia for and New Zealand for combined two years. I also traveled through Mexico, Central America, South America, and the Caribbean. Adding on to this was taking the Orient Express from Paris to Istanbul, then traveling overland through Turkey, Iran, Afghanistan, Pakistan, India, and Nepal where I trekked to the top of Kali Pater which is adjacent to the Everest base camp. Excluding Australia and New Zealand the travels were done very inexpensively. Expensive lodging was $3.00 per night, and transportation was done by hitchhiking, bus, open air truck, and train. I got very close to the people, especially staying in tea houses and cheap lodging along the way. These experiences lead me to the understanding of the importance of international cooperation, and life long support for the United Nations. If I could do over my career, I would have been a diplomat.
In 1978 I brought the Good Earth Restaurants to Minnesota. Along with two partners our first location was at the Galleria in a former Happy Chef space. When I sold to my partners we had four locations. My wife owned a women’s fashion forward clothing store named Arafina that was also in the Galleria. This gives me excellent insight into retailing and restauranting.
To submit yourself or another MNCAR member for a monthly spotlight profile, email lindsey@mncar.org