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SPQ LIGHT DETROIT'
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DEVELOPING DETROIT'S NEXT
GENERATION IN REAL ESTATE
FRIEDMAN INSIGHT
Our Take on Detroit's Momentum
HEADLINE Michigan led the nation in high-tech job growth from 2009 to 2010, according to
data from the TechAmerica Foundation which shows that the state enjoyed a net gain of 2,700
technology jobs last year, which amounts to a 2% increase.
Gary Goodman Leads New Mentoring Initiative
-
Gary Goodman is always working
to keep Friedman ahead of the
curve in the commercial real
estate industry. In recent years
it has concerned him that so
few young people are choosing
commercial real estate as a career
and he intends to buck the trend.
Friedman's take - We are thrilled at this news, and believe it shows that we have a real pool of
talent here. We need to make sure that Michigan is positioned to educate, train, and supply
these types of workers in the future, or we risk losing these businesses to other states.
HEADLINE Several major companies, including Quicken Loans, Blue Cross Blue Shield of Michigan
and DTE Energy, have moved or consolidated operations downtown. More artists and young
people are moving to the city's center and live/work incentives in Midtown and Downtown
Detroit have been extremely successful in luring residents.
-
Born and raised in Southfield, Gary
began with Friedman Integrated
Real Estate Solutions eighteen years ago when it consisted of only five
employees. Today, Gary is the Managing Director of Friedman's Brokerage
Division.
Friedman's take - We've seen the changes occurring downtown over the lost weeks and are
blown away by all the young people in the CBD and Campus Martius Park. It is amazing! This
is only the beginning, and as more people start to live and work in the urban core, there will be
more retailers and businesses moving in to serve their needs.
HEADLINE In July, Detroit showed the largest one-year increase in home values of 20 major cities:
a 1% uptick, according to the S&P/Case-Shiller index of property values. That comes after being
down 46% from the city's peak in 2005.
-
Gary and company founder/CEO David Friedman are never satisfied with
the status quo. They are always looking for "what's next", and through their
strategic planning sessions decided it's time to define the "next generation"
of Detroit real estate professionals in order to build on the company's legacy
of success. They developed a new mentoring and training program at
Friedman in order to accomplish this goal. Gary poured through hundreds
of applications in order to hand-pick the right kind of candidate for the
new mentoring program. "We are very selective. Our experience tells us
that individuals who succeed in our business have a certain mix of tenacity,
passion, and a tireless work ethic."
Friedman's take - This is encouraging, but we certainly have a long way to go to get back to pre-
crash values. The flip side of this is that young people who are in the market for their first home are
able to afford nice houses in great areas. Today's ultra-low mortgage rates help as well.
I
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FRIEDMAN
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BUSINESSES TO WATCH
3 Businesses in Detroit Making Headlines
Jason Raznick from the
greater Detroit area is
founder of Benzinga, An
innovative news and
analysis service that
features streaming financial
news, commentary, and
expert analyst ratings.
Torya Blanchard has turned
a small business into a
must try Detroit restaurant,
She opened a midtown
creperie offering 50
varieties of authentic,
handmade crepes,
Fountain Bistro originally
opened in the summer
of 2010 as a light-fare
breakfast and lunch spot,
Now, a year later, it has
evolved into a French-
inspired destination
that all Detroiters should
experience.
Once Goodman selected the right
individuals, he formed them into what
he refers to as Friedman's "Special Ops
Team''. They are a smart, tech savvy,
and aggressive group.
They meet
regularly to strategize on new business
development, and to learn how to serve
their clients using the myriad of tools that
Friedman has to offer. Friedman has
embraced today's technology and marketing resources available such as
mobile applications, iPad presentations, Friedman news blogs, video property
tours, Twitter, Linkedln, Facebook, and more. They have additionally opened
a satellite office in downtown Detroit to allow their young team to immerse
themselves in the recent momentum. According to Friedman, "Gary has re-
charged our company. With his enthusiasm and knowledge, he is helping our
new team members take advantage of the full scope of our marketing tools to
serve our client's needs, with an emphasis on building long term relationships.
He is always pushing the envelope to lead the way in our industry." Goodman
is confident that their initiative will pay off, and looks forward to working with
property owners who are looking to add value to their investments by putting
this dynamic team to work.
When asked about the fact that young people seem to want to leave
Michigan, Goodman has this to say: "I'm optimistic about Michigan's future,
and believe that Michigan is the type of place that has tremendous growth
opportunity. Things are already starting to change - Michigan is now leading
the nation in new tech jobs, and is a hotbed for new venture capital money
and start-ups. We're not going away.
Of course young talent can look
to L.A., New York, or Chicago, but
they'll be a small fish in a big pond.
Here, they have the opportunity to
be an integral part of this exciting
rebirth and revitalization of Detroit.
They can get involved, contribute
and take part in something far
more rewarding than your average
job." Gary recently joined a
committee through Federation to
help recruit and retain young, Jewish
professionals in the area.
FRIEDMAN'S "SPECIAL-OPS" TEAM
1441// 41.
Gary knows that the future of Fried-
man, as well as that of Metro Detroit,
requires time and energy to build a
new generation of talent. He is will-
ing to make that investment, and
hopes other community leaders and
business owners are doing the same.
"It's the only path forward".
Stay Connected With Friedman Mone
WWW_FRIEDMANREALESTATECOM/MOBILE
Interested in joining Friedman's brokerage team? Send resumes to inquire@freg.com