{"id":1735,"date":"2019-04-25T15:32:59","date_gmt":"2019-04-25T15:32:59","guid":{"rendered":"https:\/\/www.lee-associates.com\/wbe-dev\/?p=1735"},"modified":"2023-02-14T14:04:48","modified_gmt":"2023-02-14T14:04:48","slug":"lee-associates-marking-10-years-in-new-jersey-is-primed-for-additional-expansion","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/wbe\/2019\/04\/25\/lee-associates-marking-10-years-in-new-jersey-is-primed-for-additional-expansion\/","title":{"rendered":"Lee & Associates, marking 10 years in New Jersey, is primed for additional expansion"},"content":{"rendered":"
\n
\n\t

Rick Marchisio and Brian Lynch had been friends and industry colleagues for nearly 20 years,
\nand they had often mused about the day they\u2019d join forces to launch their own firm.<\/p>\n

Lee & Associates \u2014 a commercial real estate brokerage with roots on the West Coast \u2014
\nprovided that opportunity in late 2008. The firm was in search of a new office in New Jersey,
\noffering a chance to combine Lynch\u2019s background in property management with Marchisio\u2019s
\nexperience as a longtime branch manager with Grubb & Ellis.<\/p>\n

\u201cWe both worked the same market,\u201d Lynch said. \u201cWe did a lot of transactions together. And the
\nopportunity for me to partner with somebody who really ran a full-service brokerage operation
\nwas very attractive.\u201d<\/p>\n

That partnership came to be in 2009, marking the start of Lee & Associates\u2019 current office in New
\nJersey. A decade later, the office has grown from just four brokers and three employees to a
\nteam of 55, including 34 licensed agents, with a focus on multiple asset classes and a growing
\nnumber of service lines.<\/p>\n

The office, which is based in Elmwood Park, has also built that platform with the help of Lee &
\nAssociates\u2019 distinctive broker-owned model.<\/p>\n

\u201cIt\u2019s a unique structure that allows the brokers to go do their job without a lot of oversight and
\nbureaucracy,\u201d said Lynch, the CEO of Lee & Associates New Jersey. \u201cNobody is really telling them
\nhow to operate and they get to retain large shares of the commissions through splits, they get to
\nbecome partners in the company and get to share in the profits of the company.\u201d<\/p>\n

Admittedly, both Lynch and Marchisio initially balked at the prospect of joining Lee & Associates,
\nyet both had reasons to be intrigued. While it had grown to nearly 40 offices by that time, Lee &
\nAssociates had lacked a presence in New Jersey since its former affiliate, Klatskin Associates, was
\nacquired by JLL in 2007.<\/p>\n

For his part, Marchisio had been leading Grubb & Ellis\u2019 New Jersey office for several years and
\nsaw the firm trying to keep pace with its larger competitors, which meant a move away from the
\nmiddle market.<\/p>\n

\u201cI recognized as a local branch manager that it was a tall order,\u201d said Marchisio, who would
\nbecome president of Lee & Associates New Jersey. \u201cI wanted to stay in the middle market and
\nLee was a great opportunity to do that.\u201d<\/p>\n

Lynch\u2019s company at the time, Commercial Realty Associates, had been operating since 1995 with
\na focus on landlord representation, property management and other services. His son and
\ndaughter, Jason Lynch and Jessica Vasil, had become key figures in the Union-based business
\nwhen the opportunity with Lee & Associates came about in late 2008.<\/p>\n

Marchisio was \u201cnot ready for a startup\u201d after so many years in the industry, but he and Lynch
\nsaw the potential to leverage the existing, established business at Commercial Realty Associates
\nin order to introduce the Lee & Associates brand to New Jersey.<\/p>\n

Lee\u2019s business structure also proved to be a deciding factor. The 100 percent broker-owned firm
\noperates more as a co-op as opposed to a top-down corporation or even a franchise, Lynch said,
\nnoting that the corporate entity \u201cexists only to serve the local offices.\u201d
\nThat means its brokers are not paying a percentage of their commissions to the corporate
\noffice.<\/p>\n

\u201cIt\u2019s not a profit center for anybody,\u201d he said. That made it an attractive proposition for the three
\nfounding principals \u2014 which included Marchisio and Brian and Jason Lynch \u2014 with Vasil joining
\nas an executive president.<\/p>\n

\u201cOnce I looked at it and understood it, I realized nobody in corporate is going to tell us how to
\nrun our business,\u201d Lynch added. \u201cIt\u2019s a collaborative, entrepreneurial-type structure.\u201d
\nOf course, the team was contending with the immediate aftermath of the real estate downturn
\nwhen it launched the office in 2009. But that proved to be an opportunity, as banks were
\nforeclosing on properties and in need of property management services.<\/p>\n

\u201cIt was challenging,\u201d Lynch said, but the firm began to work with lenders and would go on to
\nhandle nearly 100 receivership assignments during the downturn.<\/p>\n

\u201cThat was very instrumental in our success and riding out those initial years,\u201d he said. \u201cIt was
\nalso very helpful that we were now able to feed some of these opportunities to our brokers that
\njoined us, so we were able to give them an opportunity when the market was dead and we said,
\n\"Now we have distressed assets for you to dispose of or to lease up. \u201d<\/p>\n

Read more...<\/a><\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

Rick Marchisio and Brian Lynch had been friends and industry colleagues for nearly 20 years, and they had often mused about the day they\u2019d join forces to launch their own firm. Lee & Associates \u2014 a commercial real estate brokerage with roots on the West Coast \u2014 provided that opportunity in late 2008. The firm was in search of a new office in New Jersey, offering a chance to combine Lynch\u2019s background in property management…<\/p>\n","protected":false},"author":74,"featured_media":1737,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"\nLee & Associates, marking 10 years in New Jersey, is primed for additional expansion - WBE Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/wbe\/2019\/04\/25\/lee-associates-marking-10-years-in-new-jersey-is-primed-for-additional-expansion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee & Associates, marking 10 years in New Jersey, is primed for additional expansion\" \/>\n<meta property=\"og:description\" content=\"Rick Marchisio and Brian Lynch had been friends and industry colleagues for nearly 20 years, and they had often mused about the day they\u2019d join forces to launch their own firm. Lee & Associates \u2014 a commercial real estate brokerage with roots on the West Coast \u2014 provided that opportunity in late 2008. 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