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SEPTEMBER 2017 SFBWMAG.COM 7.95 PHILLIP FROST Still on the cutting edge M I A M I S N EWE ST WAT E R F R O N T D I N I N G A N D E V E N T S PA C E B O O K T H I S S PA C E CORPORATE EVENTS SOCIAL CELEBRATIONS AND MORE Book your special e vent at Miami s ne west venue overlooking Biscayne Bay and the Miami skyline. 601 features two le vels of flexible e vent space floor to ceiling windows and an outdoor lounge. DINE WITH US A LA CARTE CHEF TABLE LOUNGE AND BAR Game Day dining is open to all HEAT fans before during and after games. Come early stay late and enjoy fan favorites or dine in style in the Private Dining Room. Sample from the craft beer wall in the Decanter Bar or enjoy mixo logy specialties in the Tumbler Bar. G AT H E R AND CHEER GROUP HOSPITALIT Y AND GAME TICKETS Group dining and meeting space is available in 601 s chic outdoor Cabana or Private Dining Room with a waterfront vie w followed by all the excitement of Miami HEAT basketball. BOOK YOUR 601 EXPERIENCE TODAY. 2 SEPTEMBER 2017 www.sfbwmag.com C O N TA C T A DA M R A M O S S E N I O R M A N A G E R K E Y A C C O U N T S & S P E C I A L E V E N T S A R A M O S H E A T . C O M 6 0 1 B I S C A Y N E B LV D M I A M I F L 3 3 1 3 2 7 8 6 - 7 7 7 - 4 2 8 9 Let Us Take a Look At Your Employee Benefits Needs Arthur Novoseletsky Samantha Graveline Laura Sherwin Antonio Tavares Francisco Menendez 1201 W. Cypress Creek Road 130 Fort Lauderdale FL 33309 954- 776-2222 1-800 648-9303 www.bbftlaud.com Medical Insurance Level Funded Fully Insured Self-Funded Prescription Drug Dental Insurance Vision Insurance Disability Insurance Short Term Disability Long Term Disability Life Insurance Voluntary Programs Assistance with COBRA HR Benefits Compliance Online Enrollment Technology Brown & Brown Benefit Consultants www.sfbwmag.com SEPTEMBER 2017 3 321 WATERS EDGE FT. LAUDERDALE FL 2818 Center Port Circle Pompano Beach FL 33064 P 954.735.8223 18288 Collins Ave Sunny Isles Beach FL 33160 P 305.974.0161 FL State Licensed Designer 000407 4 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 5 Careers that offer opportunity and growth. Whether you re starting a new career or looking to make a change the ability for a company to provide you with the tools and resources necessary to be successful matters. Not all financial services companies are the same. Product offerings producer support ongoing training and marketing vary widely. 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Melissa Aguilar Agency Recruiting Director 954-689-9413 maguilar financialguide.com Allison Morgan Agency Recruiting Director 954-689-9523 amorgan financialguide.com Live Mutual MassMutual South Florida 1000 Corporate Drive Suite 700 Fort Lauderdale FL 33334 www.southflorida.massmutual.com LIFE INSURANCE RETIREMENT 401(K) PLAN SERVICES DISABILITY INCOME INSURANCE LONG TERM CARE INSURANCE ANNUITIES Massachusetts Mutual Life Insurance Company (MassMutual) Springfield MA 01111-0001 and its affiliated US insurance companies. Local sales agencies are not subsidiaries of MassMutual or its affiliated companies. Financial Services Representatives are independent contractors and are not employees of MassMutual its subsidiaries or of General Agents with whom they contract. Insurance products issued by MassMutual (Springfield MA 01111) and its subsidiaries C.M. Life Insurance Co. and MML Bay State Life Insurance Co. (Enfield CT 06082). 1MassMutual is ranked No.77 on the 2017 FORTUNE 500 list. (FORTUNE Magazine June 15 2017). CRN201905-192417 FOOTBALL IN PARADISE 2017 FLORIDA ATLANTIC FOOTBALL HOME SCHEDULE 09.01 NAVY CELEBRATE FAU DAY BETHUNECOOKMAN PARENT & FAMILY WEEKEND YOUTH DAY 09.16 MIDDLE TENNESSEE LOCAL HEROES DAY 09.30 NORTH TEXAS HOMECOMING 10.21 MARSHALL MILITARY APPRECIATION DAY 11.03 11.18 FIU SENIOR DAY SINGLE GAME TICKETS AS LOW AS 12 CALL 1.866.FAU.OWLS OR VISIT FAUSPORTS.COM TO FIND OUT MORE AND TO PURCHASE YOUR TICKETS TODAY. www.sfbwmag.com SEPTEMBER 2017 7 TABLE OF CONTENTS NEWS & FEATURES 14 One liners 32 Feature Catch up on the news you missed from around the region 41 Inside the Gates Golf clubs are changing with new exclusive amenities Artist Romero Britto s new financial partnership 48 Feature A look at South Florida s upscale senior living COLUMNS 26 COVER STORY Phillip Frost is ready for the next big thing 70 Commercial Real Estate 76 Tech Hub The state of the region s industrial supply Denny Sanford plans to die broke Citrix announces new CEO 78 Sales Strategies Five tips for better brainstorming 74 Nonprofit Governance 80 People Passion and Profits 64 CEO Connect SFBW & PARTNERS 58 CEO Connect An evening with banker Keith Costello Leadership techniques amid change Football coach Lane Kiffin talks shop WEALTH 38 Pensam Capital Investment company has multipronged approach THE LAST PAGE 82 History Viewpoint Before it had craft brewers South Florida had Regal Beer View into Gulf Stream Aquarium from Oculus 8 SEPTEMBER 2017 www.sfbwmag.com ConvenienCe ACCess serviCe In today s global business environment service is essential convenience is mandatory security is vital and time is more valuable than ever. Owned and operated by the City of Fort Lauderdale Fort Lauderdale Executive Airport offers a diverse range of aviation services business resources and amenities that include 4 Full Service Fixed-Base Operators A 24-hour FAA Air Traffic Control Tower U.S. Customs & Border Protection Service Aircraft Rescue and Firefighting Station Downtown Helistop with Lobby 24-hour Contract Security A 200-acre Industrial Airpark No Landing Fees www.flyfxe.Com www.sfbwmag.com SEPTEMBER 2017 9 LETTER FROM THE EDITOR r. Phillip Frost is celebrated as one of the most successful entrepreneurs in South Florida but there s a lot more to him than that. As our cover story shows Frost is not only a philanthropist he s a role model leading by example on how giving is done the right way. Yes he can write the big checks but he and his wife Patricia do deep dives in how the money can be best spent. In interacting with local universities they actually meet the scholars and help shape programs. Frost represents a classic American success story. He was born the son of a humble merchant in Philadelphia which helped him understand what it means to be in business. That s how he was able to see an opportunity for a product he invented while he was a dermatologist. Then there s his artistic side. His interest in art is widely known but I didn t know until I interviewed him that he was a French literature major who studied in France. His love of art Editor-in-Chief Kevin Gale didn t come about because he became a wealthy patron. He learned about art visiting the Louvre in Paris while he studied in college. He s given one of his collections to the Smithsonian and the couple s contributions to Florida International University resulted in their name being emblazoned on the university s art museum. The couple s largesse also extends to FIU s music program. The Frosts are also helping STEM (science technology engineering and math) education by giving 100 million to the University of Miami and 45 million to the Phillip and Patricia Frost Museum of Science in downtown Miami. Frost hasn t retired from entrepreneurship either. He deserves recognition as South Florida s version of Warren Buffett with a diverse collection of businesses. It wouldn t be surprising to see some lifechanging treatments emerge from his biotech companies. Renaissance Man 10 SEPTEMBER 2017 www.sfbwmag.com Take it to the next level Own your business space Own your business space with an Owner Occupied Commercial Real Estate Loan 3.99 Rates as low as % Waive 1% origination fee Amortization period of 25 years Prepayment penalty 3-2-1 Call us today at (877) 424-5325 or visit www.mercantilbank.com own for more information. Mercantil empowering your world Offer applies to a 10 year term loan repricing at year 5 to the then 5 year Treasury Rate plus Bank margin. At repricing date Bank margin does not change from margin applied for years one through five. Offer is based on credit parameters and qualification criteria for Mercantil Bank s Owner Occupied loan program where Mercantil Bank holds a first lien position. Offer effective as of 08 01 2017. Offer and Program Terms are subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as a commitment or offer to lend. Loan is secured by the real estate you are financing. Ask us about additional rates and margins that may apply. All loans are subject to credit and property approval. Other restrictions limitations and fees may apply. Property must be located within Mercantil Bank s designated areas in Florida and Texas speak to a loan officer for details. To take advantage of this offer application must be submitted by 12 31 2017. 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CHAIRMAN AND PUBLISHER EDITOR-IN-CHIEF AND SENIOR VICE PRESIDENT OF STRATEGY Gary Press gpress sfbwmag.com Kevin Gale kgale sfbwmag.com ASSOCIATE EDITOR Andrea Richard arichard sfbwmag.com COPY EDITOR Jason Davis CREATIVE DIRECTOR ART DIRECTORS Melanie Smit Alexander Hernandez Frank Papandrea Evelyn Robles Creative Writers CONTRIBUTING WRITERS Christine Alexis Gerry Czarnecki Chris Fleck Stephen Garber Martin Lenkowsky Darcie Lunsford Greta Schulz Downtown Photo Fort Lauderdale Larry Wood Photographers Associate Publisher CLAYTON IDLE cidle sfbwmag.com Managing Director RON MANN rmann SFBWmag.com rlopez sfbwmag.com LORI CASTLE lcastle sfbwmag.com Market Directors RICH LOPEZ DAVID SAFFER CHIEF OPERATING OFFICER CONTROLLER dsaffer sfbwmag.com Sandy Lechner slechner lmgfl.com Josh Wachsman jwachsman lmgfl.com OPERATIONS DIRECTOR Monica St. Omer monica lmgfl.com DIRECTOR OF MARKETING & EVENTS Jennifer Barb jbarb lmgfl.com MARKETING & EVENTS COORDINATOR Estefania Marin emarin lmgfl.com Editorial Advisory Board Bob Birdsong OK Generators President Mark Brown Miami Heat VP of Sales Andy Cagnetta Transworld Business Brokers CEO Matt Dernis Fortune 360 Group Partner William O. Fuller Barlington Group Managing Partner Gerald Greenspoon Greenspoon Marder Co-managing Director Steven Gurowitz Interiors by Steven G. President Michelle Homoky Celebrity Cruises Director of Eastern Sales Rufus James Fort Lauderdale Executive Airport Airport Manager Michael Gorham Brown & Brown of Florida Executive Vice President Patrick Lee Shorecrest Construction CEO Alan Levan BBX Capital Chairman and CEO Rick Mancinelli C3 CEO Neil Merin Merin Hunter Codman Chairman Teddy Morse Ed Morse Automotive Group Chairman & CEO Sam Robbins National Jets President & CEO Pablo Pino TD Bank South Florida Market President Commercial Lending Steven Sadaka Steven Douglas CEO Rachel Sapoznik Sapoznik Insurance CEO Erik Sussman Mass Mutual CEO Jeremy Walls Miami Dolphins CMO SFBW Magazine 3511 W. COMMERCIAL BLVD. SUITE 200 FORT LAUDERDALE FLORIDA 33309 954.377.9470 FAX 954.617.9418 WWW.SFBWMAG.COM Manage Your SFBW Subscription Is SFBW arriving in your office with an outdated subscription label Contact Monica St. Omer at monica LMGFL.com or (954) 377-9473 to give us updated information such as a new executive or someone no longer with your organization. Visit sfbwmag.com to see our digital content and sign up for our weekly newsletter 2016 SFBW magazine is published by Lifestyle Media Group all rights reserved. SFBW is a monthly advertising magazine. All contents are protected by copyright and may not be reproduced without written consent from the publisher. The advertiser is solely responsible for ad content and holds publisher harmless from any error. 12 SEPTEMBER 2017 www.sfbwmag.com WWW.SAPOZNIK.COM www.sfbwmag.com SEPTEMBER 2017 13 ONE LINERS BROWARD Current Capital Group paid 21.25 million for retail center University Marketplace in Pembroke Pines. Bristol Group and Butters Construction and Development announced four new restaurants will open at University Place a Class-A office building in Coral Springs. Florida Atlantic University is opening a student advisory service hub called One Stop Shop on its Davie campus. Analysts at Great Place to Work recognized construction firm Moss & Associates based on anonymous employees surveys. The Traina Companies FATcity a 1.3 million-square-foot mixed-use project with Class-A offices is being planned for 300 N. Andrews Ave. Fort Lauderdale. Marcus & Millichap brokered the sale of the Oasis a 141-unit apartment complex in Oakland Park for 13.5 million. Boulder Coloradobased grocer Lucky s Market is opening its third Broward location at 1030 E. Oakland Park Blvd. Oakland Park. Fort Lauderdale builder Terence Paterson paid 15.9 million for Lighthouse Point Yacht and Racquet Club and plans to redevelop it. Maritime nonprofit organization Seafarers House selected Bob Swindell president and CEO of the Greater Fort Lauderdale Alliance as its 2017 South Florida business leader. V s Barbershop opened its first South Florida location in Fort Lauderdale 2426 N. Federal Highway. Oregon-based life sciences company Signal Bay secured its first Florida license for its cannabis testing division and will open a testing lab in Fort Lauderdale. Pompano Beachbased Redevelopment Management Associates hired Marc Snediker to oversee statewide projects. Virtual business coaching service Have Big Plans has launched and is offering affordable packages for entrepreneurs. Ken Juede is the new director of Mission United the United Way of Broward County s initiative to support transitioning veterans. Avison Young was retained to lease a planned 335 000-square-foot creative office campus The Edison Pembroke Pines. Park Partners Residential hosted a ribbon cutting for its Parc3400 apartment project in Davie. The Related Group s Hyde Resorts and Residences in Hollywood has closed the sales of all of its units. Temple Kol Ami Emanu-el plans to sell 5.4-acres of its 15-acre campus in Plantation to Stiles to build apartments. Solar Power World magazine ranked Moss Solar a division of Moss Construction as a top solar contractor and No. 11 in solar engineering procurement and construction in North America. Shay Carver joined BBX Capital as human resources director for its MOD Pizza franchise. Xtreme Action Park an indoor entertainment center opened its latest attraction Evolution Escape Rooms. www.sfbwmag.com SEPTEMBER 2017 15 Home is where your bed is Nothing beats the feeling of coming home to a bed you love. That s why we build every H stens bed completely by hand using sustainably-sourced natural materials giving you the secret to being truly well rested. Visit your nearest retailer and experience the difference. hastens.com BRICKELL MATTRESS 1030 SW 8 Street Miami FL 33130 Tel. 305-326-4000 Email Sales BrickellMattress.com Designers Welcome ARE YOU HUNGR Y TO G ROW ITSUGAR.COM MODpizza.com HOFFMANS.COM BBX Capital Corporation is pleased to add IT SUGAR to our growing retail portfolio of companies. We are looking for new team members who are passionate about making customers smile. To become a member of our team visit BBXCapital.com careers. NYSE BBX 401 EAST LAS OLAS BOULEVARD SUITE 800 FORT LAUDERDALE 954-940-4000 BBXCAPITAL.COM BBXCAPITAL.COM 954-940-4000 www.sfbwmag.com SEPTEMBER 2017 17 ONE LINERS MIAMI-DADE Grand Station Partners plans to develop a 21-story residential tower attached to the Courthouse Center Garage 40 NW Third St. Miami. Cushman & Wakefield negotiated the 37.25 million sale of a FedEx distribution facility in downtown Miami. Financial-holding company Markel acquired 81 percent of Costa Farms. Crystal Cruise Line CEO Edie Rodriguez was named Ernst & Young s Entrepreneur of the Year at its annual Florida awards ceremony.. The Chronicle of Higher Education recognized Florida International University as one of the best colleges to work for. Arts veteran and entrepreneur Dennis Scholl was named president and CEO of ArtCenter South Florida. Developers 13th Floor Investments and Key International celebrated the topping off of The Harbour a 32-story condominium development in North Miami Beach. Miami International Airport rolled out its U.S. Customs and Border Protection authorized passport control app making MIA the first in the world to enable digital passport clearance. Grove Bank & Trust appointed David Breitwieser as its new managing director and senior portfolio manager and Marta Goldberg as managing director and fiduciary wealth advisory. Kurz Real Estate brokerage and producer of its own live-streamed Kurz Real Estate Show celebrated its first year with a reception at Brickell City Centre s CMX Cinemas. Locally owned Rice Mediterranean Kitchen opened in Coral Gables. Fort Lauderdale-based Tap 42 will open its fifth location at Aventura Mall. Crate a restaurant serving vegetarian and vegan cuisine opened at 901 Brickell Plaza Miami. Miami Mayor Tom s Regalado left and his daughter Raquel right celebrated the 90th birthday of Florida East Coast Realty Chairman and President Tibor Hollo center. The Home Depot Foundation awarded 400 000 to Carrfour Supportive Housing a not-for-profit affordable housing developer that is building a 60-unit residence for previously homeless veterans. Erbi Blanco-True was appointed as chair of the Banking & Financial Services Committee of the Greater Miami Chamber of Commerce. Former Florida Gov. Bob Martinez won the LeRoy Collins Lifetime Achievement Award from Leadership Florida. Glory Farms a 25-acre estate in Homestead is listed for 6 million. Maria Alonso is the new CEO at United Way of Miami-Dade Jackson Health System president and CEO Carlos Migoya is the new board chair. The Boys & Girls Club of Miami-Dade unveiled its renovated teen center and next-door field with former pro baseball player Alex Rodriguez in attendance. www.sfbwmag.com SEPTEMBER 2017 19 Are YOU ready for a second chance See Ryan s and Kayla s national commercial for Debt.com. www.debt.com commercial 20 SEPTEMBER 2017 www.sfbwmag.com Visit Debt.com today or call 800-810-0989 Where success is legendary. Legends Club at Nicklaus Village The Legends Club is an innovative premier hospitality experience at The Honda Classic. This luxurious space offers the best views of the golf action on the 18th hole with premium food and beverages to enjoy throughout the day in comfort and style. If you want to make a lasting impression on current clients or are looking for a special place to host new ones join the club. For details contact Jermaine Davis at 561-799-4618 or Joanie Connors at 561-799-4619. FEBRUARY 19 - 25 2018 PGA NATIONAL RESORT & SPA THEHONDACLASSIC.COM www.sfbwmag.com SEPTEMBER 2017 21 ONE LINERS PALM BEACH NAI represented AutoZone in a 10-year 1.1 million lease in Delray Beach. Starbucks is closing all its Teavana stores including locations in Wellington and Palm Beach Gardens. Kendra Scott a jewelry and home goods provider opened at the Gardens Mall in Palm Beach Gardens. Opustone & Tile Concepts opened a new 25 000-square-foot showroom and slab gallery in West Palm Beach. Miami-based Key International in partnership with Integra Investments acquired a parcel in east Boca Raton for development of a lowrise condominium. Florida Trend magazine recognized the Gunster law firm as one of the state s best companies to work for in 2017. Modernizing Medicine has expanded its operations adding more than 800 new jobs in Boca Raton. A new zoning initiative for Class-A offices has been proposed in downtown West Palm Beach. West Palm Beachbased Alliance Bio- Products was approved to purchase an Indian River biofuel plant. Fairfield Residential sold Delray Verana Apartments for 102.5 million to an affiliate of Bainbridge Cos. of Wellington. NAI Merin Hunter Codman brokered the 12.5 million sale of Village Square Tequesta to Redfearn Capital of Delray Beach. Jupiter-based Vision Database Systems launched PockeTracker a mobile identity tracker for construction managers. Senior Homecare Direct opened a Boca Raton agency. Florida East Coast Industries announced its residential property brand Park-Line debuting in 2018 which will have residences within walking distance of the Brightline train service. Golf industry veteran Eddie Carbone was named tournament director for the Boca Raton Regional Hospital Championship which is on the PGA Tour s Champions circuit. Avison Young closed a 2.6 million off-market sale of a 4 000-square-foot former SunTrust Bank branch in Boca Raton. Cushman & Wakefield negotiated the sale of the West Palm Small Bay Portfolio. Palm Beach International Airport was named the country s ninth best domestic airport by Travel & Leisure magazine. Boca Raton Airport is opening a 4 400-squarefoot U.S. Customs and Border Protection facility for international arrivals. SVN Florida a commercial real estate brokerage leased the last two remaining units at 1002 Jupiter Park Lane. One Clearlake Centre an 18-story Class-A office tower in West Palm Beach was acquired by Velocis and is managed by CREC. The Keyes Company acquired Jupiter-based Bluffs Real Estate and Investment Properties. Even Stride a company associated with Laurene Powell Jobs the widow of Steve Jobs paid 8.24 million for a 7.2-acre parcel next to her Wellington estate. Dominic Delgado joined Cushman & Wakefield as senior director and will lead the firm s retail presence in Palm Beach and Broward counties. Fort Lauderdale-based Moss Construction is focusing on opportunities in Palm Beach County with the new hire of Robin Galanti to lead as director of business development. A study co-authored by faculty members at Florida Atlantic and Florida International universities found overqualified employees experience psychological stress at work. Epoca International a houseware product designer and supplier completed construction of its in-office coffee space at its Boca Raton headquarters. Jay Leno will serve as a celebrity judge at the 12th annual Boca Raton Concours d Elegance Feb. 23-25. www.sfbwmag.com SEPTEMBER 2017 23 SOMEWHERE IN THE WORLD RIGHT NOW THERE S A GENIUS HACKER PLANNING THEIR NEXT CYBERATTACK ARE YOU PROTECTED Connections For Business is the best Managed Services Provider for small and mid-sized South Florida Businesses. Let us protect what matters most your business 2843 Pembroke Road Hollywood Florida 33020 www.connections.com 954-920-9604 24 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 25 Phillip Frost COVER STORY CHARITABLE BILLIONAIRE IS STILL WORKING ON THE NEXT BIG THING Phillip Frost BY KEVIN GALE www.sfbwmag.com SEPTEMBER 2017 The River of Grass Exhibition at The Frost Science Museum When it comes to serial entrepreneur success among South Florida s billionaires Dr. Phillip Frost continues to lead the list. Frost and a partner bought struggling Key Pharmaceuticals in 1972 and sold it to ScheringPlough for 835 million in 1986. He sold Ivax Corp. to Teva Pharmaceuticals in 2006 for 7.4 billion. He is currently chairman and CEO of Opko Health which saw revenue jump from 491.7 million in 2015 to 1.22 billion in 2016. He s also chairman of Ladenburg Thalmann Financial Services which handles 144.3 billion in client assets. Forbes ranks him 522nd among the world s billionaires with a net worth of 3.2 billion. He and his wife Patricia a former high school principal and member of the State University System s Board of Governors have signed the Giving Pledge started by 27 Feathers to the Stars at Frost Science Museum Warren Buffett and Bill and Melinda Gates to give away more than half their wealth. They have given 100 million to science technology engineering and mathematics programs at the University of Miami 33 million for the music program at Florida International University and 45 million for the Phillip and Patricia Frost Museum of Science in downtown Miami. Before he became an entrepreneur Frost graduated from the Albert Einstein College of Medicine in New York and later became a professor of dermatology at the University of Miami and chairman of the dermatology department of Mount Sinai Medical Center in Miami Beach. In a recent interview with SFBW Frost discussed his career and what s ahead. One of your profiles says you were tinkering with a disposable device to make biopsies easier in the 1960s and it turned into a business opportunity. What inspired you to be an entrepreneur and what was that experience like First of all my family was in business. My father had a shoe store that I grew up in. My older brother had a hardware and building supply store that I worked in during the weekends and summer. I became familiar with buying and selling interacting with people and the concept of profit. On the other hand I was interested in many things. I majored in French literature in college [at the University of Pennsylvania] and then later decided to go into business. I was at home with a cold when I was thinking about providing something that would be useful to make a little money. I was thinking about instruments that doctors use. I was an assistant professor of dermatology. It occurred to me that the punch was a traditional instrument unique for dermatology. It was an instrument that had to be cleaned and sterilized at a time when disposables were becoming popular. I thought we would make a disposable punch. A neighbor across the street said I will make you a prototype. We became partners. He was a lot older than I was I bought him out for a small amount of money. Then I got together with other potential partners and eventually got into a position where we could acquire a significant interest in Key Pharmaceuticals a publicly traded company that had been around a dozen years. It had very good technology and was a little ahead of its time. Management didn t understand how to exploit it. When we got into it we realized the technology could be of use. We created the No. 1-selling asthma drug Theo-Dur. Fifteen years later we were approached by Schering-Plough and asked if we were interested in selling it. In those matters the price for the buyer may be significantly more than market value because the buyer will see synergies you can t do yourself. That s the basic theory behind why I would sell anything and the right time. What was your experience like at Teva Pharmaceutical Industries and what s the outlook for the company and the generic pharmaceutical industry in general Teva is a very large company. I was 28 SEPTEMBER 2017 www.sfbwmag.com COVER STORY chairman until two years ago and a director until January of this year. All I know about it is what every other shareholder would know--it s a good solid company in the generics business which is a commodity business. There s an ongoing process of declining prices. Any generic company has to be very very good at what they do--developing manufacturing and selling very efficiently. Ironically most of their success is from a proprietary product [Copaxone] for multiple sclerosis. It s really been a great boon for the company. It provided a lot of cash and still does. Teva has a nice pipeline of new pharmaceuticals including a new drug for migraines headaches. [A June 7 Reuters article says the new drug fremanezumab passed key late stage trials and could come to market in the second half of 2018.] How would you describe Opko Health and its strategy It s a different sort of animal. It s a hybrid with both proprietary pharmaceutical and diagnostics. It s the third-largest clinical laboratory with its BioReference Laboratories which does over 1 billion in business. It was acquired almost two years ago. We have been very busy trying to run it more efficiently and bringing in a lot of new talent. The cash flow from that part of the business is increasing steadily. We think it can support the R&D we are doing on the side of the proprietary drugs. The proprietary pharmaceuticals are selected on the basis of having very big potential and on the other hand our ability to develop them for a reasonable cost. We have three to four products with the potential to be blockbusters. [Opko is already marketing Rayaldee which helps certain kidney disease patients with vitamin D deficiency the company s website says. In the pipeline are Varbui for chemotherapy-induced nausea hGH-CTP a weekly human growth hormone injection and a treatment for hemophiliacs.] BioReference performs hundreds of types of tests on about 40 000 patient samples a day. One part does genomic work. The new 4Kscore test for prostate cancer is being used more and more by urologists and primary care physicians. The 4Kscore is a simple blood test. We can eliminate 50 or 60 percent of the biopsies. It has great great potential for helping men avoid the biopsies and getting better predictive information about what men might expect. It has a huge profit potential. We also have a point-of-care test Claros 1 which is a microfluidic system. You collect a drop of blood snap it into a microcassette and then put it in an analyzer. The blood goes through a maze the size of a human hair. In different stations are different chemicals. In 10 minutes you get a printout of the test with an accuracy similar to a chemistry lab. The first test in clinical trials is for PSA [prostate-specific antigen] and the second is for testosterone. How did you become interested in Ladenburg Thalmann and where do you see opportunities for the company now I got interested just by making a small investment in a tiny broker in Long Island simply as diversification. It eventually became Ladenburg. It was a tiny company with revenue of 25 million. It has more than 100 billion in client assets and continues to grow with 4 000 agents. Its profitability is influenced by interest rates--it benefits from higher interest rates. It does full investment banking raising money for other companies and making markets in securities--the things a normal full-service investment bank would do. It s another diversified interest which is the type of thing I enjoy. The management has great people in it just as we have at Opko. Tell us how you decided to invest in Grove Bank in 2011 To be honest in that business almost more than any other it s a question of the quality of the people involved. The opportunity was brought to my attention by two old friends Michael Weintraub and Charles Stuzin. Because of my confidence in them I agreed to invest alongside them. What are the opportunities ahead for the bank One of the tenets of banking that Charles and Michael live by is being cautious and conservative to protect not only people that bank with them but the investors. The challenge is to grow on an ongoing basis but at the same time not be reckless. What I like about it is it is a well-capitalized bank that won t take undue risk. Because of the high quality of the service they provide they will continue to grow. The Wikipedia page for you indicates an interesting array of other investments including Castle Brands a developer and marketer of premium brand spirits Continucare Corp. a provider of outpatient services ChromaDex a natural products company Drone Aviation Holding Corp. MusclePharm MSLP a nutritional supplements company Sevion Therapeutics a biotech and Cocrystal Pharma. Miami banker Bill Allen was once quoted as saying you could analyze 50 companies while eating a sandwich. What do you look for In almost each of the cases I m invested in it is because of a personal contact with somebody involved in the company. Castle Brands involves a friend going back to my early Key Pharmaceutical days Mark Andrews. I m as loyal to my friends as they are to me. Has luck or being at the right place at the right time impacted your success I definitely think so. I m very lucky. Many of the events that led to some aspect of my personal success were because of chance meetings. That s for example how I got involved with Key. The vice president of marketing went to my high school in Philadelphia and our fathers knew each other. We met by chance at the airport and that led to our takeover of Key. If you could have one do-over in your career what would it be I really don t know that there s any particular item I would do over. There have been ups and downs. One would try to avoid the downs but you can t-- life is like that and business is like that. One of the reasons we all continue if we do continue is because we like the challenges and hurdles because we get so much pleasure out of surmounting them. www.sfbwmag.com SEPTEMBER 2017 29 COVER STORY Your wife Patricia has a lot of accomplishments in the field of education. What are the dynamics of your relationship like We re both enormously satisfied with each other s success and we each contribute to each other s success. Very often she can play an active role in some of the targets of our philanthropy. We think so much alike. She can be on the board. What are the pluses and minuses of having a company based in South Florida and how has that changed over the years I enjoy living here and all my activities are centered around Miami. In terms of the business we are in the drawbacks are for any tech company particularly in biotech is there is not a great abundance of talent. So it s very hard when you keep hiring people. You almost always have to reach out beyond Florida to find talented people. On the other hand people do like living here particularly after they have been living here a while. It s a welcoming environment for business. People are welcoming and friendly How did you get into collecting art and what type of works do you have in your homes My interest in art started when I was in college. I spent a year in France and studied the history of art at the Louvre. I developed a greater appreciation for art. We were always buying art from the time we were married. Even in medical school my room had all sorts of pictures on the walls. We collected American abstract art from the 1930s and 40s. We actually got to know most of the artists. There was a group calling themselves the American Abstract Artists. There were about 100 and we had works from 70 or 80 of them. We wound up giving that collection to the Smithsonian American Art Museum. Patricia was chairman and I was a regent with the Smithsonian. After that we collected works of a different sort--representational scenes of Venice from the 1500s 1600s and 1700s. I have a lot of that in the office and a few Impressionists as well. I read you are an avid gardener. Is that something you still like to do Every day I want to get out in the garden. On the weekend I spend a few hours a day. I have lot of fruit trees a lot of different types of cacti orchids and a big bromeliad collection. You signed the Buffett and Gates pledge to give away half your wealth. How is that going and what s your strategy to maximize the impact of your charitable contributions I think for us it s going well. The important thing is to contribute to what we think is worthwhile mostly educational activities. The main object of our giving campaign has been universities including Florida International University and Oxford. We like to give in such a way where we can have some influence for how the money is used such as the science museum or the art museum at FIU. We actually go over there and meet the scholars and spend some time with the professors. 30 SEPTEMBER 2017 www.sfbwmag.com Entrepreneurs Organization WE WOULD LIKE TO THANK OUR FOR THEIR AMAZING The Entrepreneurs Organization (EO) is a global business network of 11 000 business owners in 150 chapters and 48 countries. Founded in 1987 by a group of young entrepreneurs. EO South Florida chapter is one of the top five chapter in the world with 200 South Florida Members US2 Billion total sales and over 30 000 Employees in South Florida. This October 2017 we will be hosting the east regional US entrepreneur s conference an invitation only event attended by hundreds of leading entrepreneurs. STRATEGIC ALLIANCE PARTNERS FRIENDSHIP SUPPORT Josh Sheradsky Commercial Lending VP 954.233.0554 JSheradsky bbt.com Aaron Reed Shareholder 305.400.7522 areed littler.com Carlos Chinchilla Senior Executive VP 954.609.0816 carlos furmaninsurance.com Joey Givner Founding Partner 305.933.9970 jgivner givnerlawgroup.com Clayton Idle Managing Director 561.601.9177 cidle SFBWMAG.COM Steve Pelkey New Car Sales Manager 954.529.4578 spelkey holmanauto.com Matthew Ragland Partner 815.575.6448 matthew noondalton.com Rachel Barden Profesional Employer Consultant 954.873.4254 rbarden oasisadvantage.com Doug Cohen President 954.683.1443 doug.cohen sandler.com Kevin Preston Commercial Photography 954.357.0553 photos southfloridaphoto.com Heather Keir Vice President & Bank Manager 954.983.7771 hkeir stonegatebank.com Tim Rubin Director of Client Services 954.713.7435 trubin kaufmanrossin.com Mark Abbott Founder & Managing Partner 203.313.7755 mark vthpartners.com Excitement and Learning Event Calendar Sponsorship Opportunities EOSOFLO.com 31 www.sfbwmag.com SEPTEMBER 2017 32 SEPTEMBER 2017 www.sfbwmag.com FEATURE P BY ANDREA RICHARD Commercial ARTIST Romero Britto looked for banking without bureaucracy to grow his business op artist Romero Britto was looking to change banks but instead of going big he went small. That s unusual because nothing about the Brazilian-born Miamiraised artist s success is small. He is known around the world for colorful art that incites smiles. He has built a business empire that appeals to the masses celebrity collectors and corporate partners including The Walt Disney Co. the Coca-Cola Co. and Royal Caribbean Cruises. When it came time to select a bank Britto said he looked beyond national banks because he s an entrepreneur who likes getting things done without red tape. TotalBank President Jay Pelham met Britto through a mutual friend and client Jeff Berkowitz a real estate developer and art collector. Berkowitz has Britto statutes installed at his properties Fifth and Alton the Dadeland station shopping center at his homes and at his office. Anything I needed they figured it out for me Romero says. A smaller organization like myself I make the decisions here and I m not waiting to get an OK from all of the people. When I want to do something I go ahead and do it. www.sfbwmag.com SEPTEMBER 2017 33 FEATURE TotalBank President Jay Pelham visited Britto s studio to help better understand his business Britto s relationship with his bank underscores concern that the number of community banks nationally is dwindling which makes it difficult for some entrepreneurs to find someone who will meet their particular needs. Community banks we live and die by relationships Pelham says. To get a deep understanding of the nuances of Britto s business Pelham visited the artist s Wynwood studio several times. Britto says Pelham s visits were fantastic. That s different because a lot of the time people see numbers and documents but they don t see what s happening in the business. It s a very unusual business that I do basically--the arts are not something that everybody does. Pelham says When you are a community bank you have to be able to come in to make a custom order. Let s talk about what you have and need and want. We have an appreciation for someone who has been in this market for a long time--Britto has been here for ages-- he s been here many years and has endured up and down economic cycles. Likewise TotalBank has done business in South Florida for more than 40 years. Everything moved so fast with TotalBank I think because the decision makers were right in front of me and it was so much easier. I met the president of the bank the key people in the bank. It was fast and easy access Romero says. Britto s 50 000-square-foot Wynwood studio looks like an extravagant funhouse filled with Britto-adorned merchandise luggage dog leashes figurines made for Disney. Framed photographs of star-studded events--Britto with Elton John Michael Jackson the Clinton and Bush families--and thank-you notes from his charitable work line the walls. He s been involved with more than 250 charities. Music plays where he paints. And his team of a dozen or so manages the e-commerce operations from orders and packaging to shipping. With financial services in place that saved time and costs he s focused on growth. He plans to outsource his e-commerce operations. My business is growing all the time. I just signed a 15-year deal with one of my biggest collectors in the world Carlos Slim [Helu] he says. He is Mexico s wealthiest man with a reported net worth of roughly 67.8 billion. He recently signed a deal to partner with model-actress Kathy Ireland he says. He also plans to open more retail stores to sell his line of merchandise as opposed to an art gallery in North America and Asia. I m going to be doing business in India more in 2018 he says. Britto has created an internationally recognizable brand and has no in-house marketing team. To him sales are simple but it s arguable that his charm helps. Basically he says people like what I do and I sell it. 34 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 35 36 SEPTEMBER 2017 www.sfbwmag.com Pensam is upgrading Viera Plantation and rebranding it as Axis at One Pine Pensam develops multipronged business strategy BY KEVIN GALE Starting a real estate business during the meltdown in 2009 might sound counterintuitive but it worked well for Michael Stein and Pensam Capital. He and two partners started with a 1 000-square-foot office in Miami s Brickell area seizing on opportunities in the distressed-debt field. Now the firm has arms in the real estate funding field owns and manages multifamily housing and develops projects. Stein was used to hard knocks as he started out as a broker with Coldwell Banker when it was part of Sears. He pounded away on the telephone calling apartment owners trying to get listings and became one of Coldwell Banker s top commercial housing officers. He later realized there was more money to be made as a principal and joined Miami s Aztec Group where he added roles as a mortgage banker and started putting his own capital in deals. During his 10 years at Aztec he estimates he put together more than 1 billion in deals across a broad array of assets. Stein was able to launch his business because of strong years before the recession doing fee-for-service work and selling properties. I had the good fortune and luxury in 2008 of reinventing myself and really making the transition from sort of a hybrid broker-principal to purely a principal he says. He started Pensam with two partners from Cidel Financial Group Gavin Beekman and Joe Ackerman. They initially focused on clients needing liquidity in the distressed real estate market. Many clients needed one- to two-year bridge loans. The partners injected capital themselves and from friends and families. They made a lot of loans in the 1 million to 5 million range. We felt starting that way we would see a lot of deal flow and opportunities Stein says. They did more than 50 loans over an eight-year span. They also bought distressed notes on two multifamily properties in Sunrise and Orlando which were late-stage foreclosures with summary judgments. They took over the properties which turned into a multifamily real estate business. We were not the bad guys who blew out the sponsor. Our bridge-lending business mentality then and today is never a loanto-own mentality. It s always a means of providing capital to good sponsors that are transitioning a property Stein says. Stein reached out to a longtime associate Harry Bookey founder and chairman of BH Management Services whom he met when he was at Coldwell Banker. He was a small apartment operator from Iowa that was buying deals in Texas and Florida. Throughout the 90s and 2000s I invested with Harry in apartment deals Stein says. Under a strategic partnership Pensam s partners invested in BH. It worked given that BH is one of the nation s top 15 largest multifamily property managers with 70 000 units in 15 states Stein says. That allows Pensam to be an owner operator rather than someone who just makes passive investments in property. Pensam Residential has about 15 000 units at 45 properties in approximately 15 states Stein says. While the initial properties in Sunrise and Orlando were Class C they now own predominantly Class A and B properties. It s one we have done a substantial Capital Ideas 38 SEPTEMBER 2017 www.sfbwmag.com WEALTH amount of repositioning through renovations and rebranding and really updating the physical plant plus the resident profile Stein says. One of Pensam Residential s biggest undertakings is a 30 million project to rebrand The Breakers Resort an apartment complex in Denver that has 1 523 units in six villages that include a 26 000-square-foot recreation center and Lake Windsor. The first step announced in March was a new name Tava Waters. Tava is the Ute Indians name for Pikes Peak and the Waters part of the name reflects lakeside living. Pensam is now upgrading 25 to 35 units a month over an 18-month span with stainless steel appliances quartz countertops faux wood floors Nest thermostats Kevo Bluetooth door locks Google Home devices and water saving faucets toilets and showerheads. That s a prime example of properties where we are going to have renters by choice not renters by need--people who want to have an extraordinary lifestyle with an amenity package they would find at a highend country club Stein says. Pensam engaged G5 a Bend Oregon digital marketing company to lead the refreshing of the brand. Pensam typically takes a hands-on approach to set the vision for properties with in-house design and architecture and marketing strategy. Each property is akin to a boutique hotel with a focus on the residents experience Stein says. Pensam likes to use technology so tenants may use their phones to pay the rent and control lights and thermostats. Pensam has about 40 millennials in its office which mirrors the demographics of many of its residents and helps it keep up with technology Stein says. Pensam s investor base is diversified with ultrahigh net worth individuals and family offices taking a long-term generational approach to wealth investing Stein says. It s not a buy-and-flip strategy. One might argue that at this point in the cycle you might sell everything and retire. But our strategy is to build a company that can withstand the cycle and has longevity into the future so the young people in the Michael Stein organization can build something that s sustainable Stein says. About three years ago Pensam started a new business line involving preferred equity which is between senior debt and common equity in the multifamily property space. It has achieved the status of select preferred equity provider for Freddie Mac and Fannie Mae which is hard to get and invested in 10 000 units. That business line is focused on yield and typically has three- to seven-year time frames. Stein describes the investments as similar to mezzanine loans but structured as preferred equity with a cap on returns. The philosophy is to invest capital with good people with solid business plans where we can see an exit. We can be taken out after they execute their business plan Stein says. In event of default Pensam has an easier transition because it s already part of the ownership group. It can provide notice to the lender that it is taking over management. About two years ago Pensam entered the development field. It has completed two multifamily projects in Lake Jackson Texas and has more in the works. The objective is to use capital in special situations where a developer has put together a compelling development deal but needs capital to get moving. Stein described it as a co-development approach where the developer needs a credit enhancement or capital to get the big construction loan. The demand at this part of the development cycle is huge but Pensam is selective about where and when it invests he says. With interest rates moving up Stein says there is quite a bit of risk in development. One strategy is to look at properties where it already owns the land and can add on to existing properties. Overall though Stein sees rising interest rates as being good for Pensam. For starters that slows down home purchases which helps the rental market. It also takes out marginal investors who just play the spread between cap rates and interest rates. Rising rates also tends to make senior debt ratios go down which creates opportunities for Pensam to provide equity to fill the gap. Borrowers may have floating rates but not Pensam. We are fixed-rate borrowers so our rate is locked in Stein says. Rates will inch up conservatively and modestly. We are not overly concerned with what s going on with rates. Pensam s Three Arms Pensam Funding A private real estate lender that provides financing secured by multihousing office retail hospitality industrial properties senior housing and land. Pensam Residential A fully integrated multihousing owner and operator that manages garden mid-rise and other properties in markets across the United States. Pensam Development An end-to-end construction and development company specializing in rehabilitation and ground-up development projects. www.sfbwmag.com SEPTEMBER 2017 39 S P E C I A L M A R K E T I N G F E AT U R E KELLY SMALLRIDGE - BUSINESS DEVELOPMENT BOARD OF PALM BEACH COUNTY THE HEART OF PROGRESS IN SOUTH FLORIDA Palm Beach County has become famous lately for something other than 60 miles of gorgeous beaches world-class cuisine and shopping and more than 200 cultural organizations. As the site of the new Winter White House the area is being recognized as a new power center. Home to the wealthiest ZIP code in the United States -- Manalapan -- The Palm Beaches are also home to a growing global financial district and a growing number of corporate headquarters from around the world. Wealth managers and financial professionals are attracted by the favorable tax environment which includes zero income tax. Corporate CEOs like the business-friendly atmosphere and the exceptional lifestyle in Palm Beach County. A burgeoning life sciences industry is building up around two major research hubs Max Planck Institute and Scripps which benefit from a wealth of entrepreneurial talent at the area s many universities. Aerospace engineering logistics and distribution companies are finding The Palm Beaches to be an ideal place to expand given the proximity to deep water ports international airports and rail transportation. All of this activity has put Palm Beach County on the map for businesses seeking a home that is welcoming a great place to live and work and rich in the arts culture entertainment and with superb restaurants and shops. What s the secret behind Palm Beach County s success in attracting companies and building the ideal ecosystem for innovation It is a special combination of local beauty and lifestyle with a global attitude. The Business Development Board of Palm Beach County has created unique partnerships among companies educators business incubators research facilities and financiers to build a genuine and lasting ecosystem that is built for business. For example. universities banks and industry groups join forces to create opportunities for innovation and lasting growth. And educators work with the Business Development Board to provide students with curricula events and courses that will develop tomorrow s workforce. At the same time that Palm Beach County is becoming a global innovation hub it is working hard to preserve the local flavor and ease that is so attractive to business. Palm Beach International Airport is major international airport that is expanding while at the same time keeping a luxurious small town feeling that makes business travel pleasant and smooth. Nine walkable arts districts provide public art that is creative and nurtures emerging artists. Quality of life is a priority in this area that is a tourism Mecca and knows how to welcome visitors. The Business Development Board has created go-to websites and networks to guide relocating companies and workers in every aspect of business and family life. An education portal identifies schools that are best suited to each relocating family (pbcedu.org). Special sites and programs help startup companies to establish and flourish (PBCEship.org). The Business Development Board guides each company through the processes of incentives site selection finding available space that is move-in ready and shovel ready introducing executives and HR leaders to the region s assets and so much more. It s the personal touch that shows employers we are ready willing and very able to create the business environment that will ensure success. By being the easiest people to work with and building systems to smooth the way for CEOs HR leaders employees and families Palm Beach County is attracting more and more companies to our pro-business vibrant and beautiful location. 40 SEPTEMBER 2017 www.sfbwmag.com INSIDE THE GATES MULTIGENERATIONAL APPEAL New clubhouses provide broad array of amenities BY MARTIN LENKOWSKY The Country Club at Mirasol www.sfbwmag.com SEPTEMBER 2017 41 INSIDE THE GATES Today s golf club isn t the same as the one appreciated by your cigar smoking grandfather. Woodfield Country Club card room lobby he latest trends in making a clubhouse cool focus on one major theme amenities. In this land of myriad country clubs a lot of competition exists to attract new members as well as keep current members says Brian Idle president of Peacock Lewis an architectural firm that has designed--or redesigned--many South Florida clubhouses. One of the biggest trends today is making the club multigenerational Idle says. The amenity package more resembles a resort rather than a traditional club. Idle says today s clubhouses are even adding aquatic complexes with waterfalls beach entry pools and play areas for the kids. There are poolside bistros with indoor and outdoor bars he says and the traditional fitness centers are now being called lifestyle centers. They now relate more to a changing lifestyle of new and younger members. Golf is not as important as physical wellness centers. Idle says clubhouses are now being built to provide multimodality options because of the big age differences in the membership. In addition to the traditional spa massage he says clubs are adding physical therapy personal trainers group exercise core strength building and even urgent care medical centers. The club has become the one-stop shop where you can get full service he says the more amenities the more age groups and genders. As for the older cigar-puffing gentlemen of yesteryear times are definitely changing in today s clubhouses. It s a much more active membership Idle says. There s a lot of salon services with hair and nail care. Idle says he s designed clubs with cyber cafes. You can get your favorite coffee drink while you relax and overlook the pool or tennis complex he says. It gets you out of the house. Working members have a club outlet as well. With more and fancier amenities being added people don t have to go anywhere else. You can have a staycation he says. He points to a few different clubhouses Peacock Lewis designed. In the Boca area there s Woodfield Country Club he says. Their hook is they re the youngest club in the Boca area. The average age is in the mid-to-late 40s. They have the full package with fine and bistro dining by the pool a big ballroom for banquets. These are all cruise ship amenities. He says the Bear s Club in Jupiter wanted to create a Tuscan enclave and even one of the oldest more exclusive clubs in Florida Indian Creek Country Club in Miami Beach has begun to feel the pressure to add more food and beverages. On the following pages is a look at some of the region s notable clubhouses 42 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 43 INSIDE THE GATES INSIDE THE GATES Boca West Country Club included a boutique in its new 153 000-square-foot clubhouse BOCA RATON FL 153 000 square foot clubhouse completed in March. Built by Hedrick Brothers Construction. Designed by Architectural Design and planning group with interiors by Image Design. Top level features a lobby with two rotundas one leading to two new restaurants Grand Central a retrothemed deli sports bar and grill and Prime Cut a signature restaurant featuring a 1 800 bottle wine cellar. The second rotunda starts off with the club s boutique which looks like an upscale department store then leads to the library and an activities ballroom that seats 500. State-of-the-art ladies and mens locker rooms with golf simulators. The lower level has a modern shopping experience at the club s Golf Shoppe as well as an under-roof golf cart staging area. BOCA WEST COUNTRY CLUB THE BREAKERS (OCEAN COURSE) WEST PALM BEACH A design reminiscent of the Grand Old Florida style of architecture. Flagler Steakhouse a fresh take on the classic American steakhouse is on the second floor. Members and guests are be greeted by a timeless social club vibe with a red white and blue decor. Other menu items include Italian favorites vegetarian and gluten-free options. Indoor and outdoor terrace seating is available providing panoramic views of the golf course. THE COUNTRY CLUB AT MIRASOL PALM BEACH GARDENS The new grand clubhouse debuted in April 2016. It won second place in the Remodel Category of Golf Inc. Magazine s Clubhouse of the Year contest. Mirasol was also awarded the Silver Star Award for Hospitality Design by the American Society of Interior Design for Excellence in design at its April 2017 design competition. The formerly 50 000 square foot clubhouse increased in size by 50 percent. Additions included Solstice an 80-seat fine dining restaurant upstairs bar and lounge used for pre-function cocktails and hors d oeuves an expanded ballroom and first- and second-story dining patios overlooking the golf facilities. The upstairs culinary facility was relocated from the center of the building to facilitate sweeping views of the golf course when entering into the lobby. Architect Peacock Lewis. Interior design Image Design Contractor The Weitz Company. Construction cost 20 million. 44 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 45 INSIDE THE GATES The Country Club at Mirasol won second place in Golf Inc. Magazine s Remodel Category in 2016 ROYAL PALM YACHT AND COUNTRY CLUB (BOCA RATON) Re-modeled clubhouse completed in November 2016. Original clubhouse was torn down and rebuilt. Architect Peacock Lewis. 51 000 square feet. Casual dining room formal dining room and private dining room. A new ballroom that seats up to 400. The new clubhouse is only slightly bigger in square footage but has been designed with a much bigger footprint. A more flexible design to host activities and community events. 3 200 bottles of red wine stored in a climate-controlled wine cellar. A pool deck offering a panoramic view of the marina. Separate facility used as an exercise area. TRUMP NATIONAL DORAL MIAMI Currently under construction with completion slated to be finished in mid October. The old clubhouse currently is being gutted in its entirety. Dining room and bar will be much bigger with the bar doubling in size. Both will feature a contemporary design with the bar being the focal point overlooking the world-famous Blue Monster golf course. A balcony area allows members to enjoy cocktails while overlooking the No. 1 tee box on the Blue Monster course. Re-done and enlarged men s and women s locker rooms. WOODFIELD COUNTRY CLUB BOCA RATON Remodeled in March 2017. Leo A. Daly (architect) Peacock Lewis (Interior Design.) The main clubhouse renovation included expanding the first floor to allow space for a large new card room and expanded ladies locker room. The second floor was also expanded to provide additional pre-function space. The renovation included a reconfiguration of the club s O Bar restaurant as well as a refresh of the Grande Ballroom The Grille and Terrace Restaurant. All lobby spaces and corridors received an interior design overhaul to create one cohesive design look throughout the clubhouse. The lighting paint flooring d cor and furniture was updated throughout. Amenities Four card rooms. Three restaurants (O Bar The Grille & Terrace Restaurant.) Grande Ballroom Golf Pro Shop. Mens and ladies locker rooms. Executive Boardroom. Pre-function and lobby spaces. 46 SEPTEMBER 2017 www.sfbwmag.com For Your Perfect Event Weston Hills Country Club proudly offers our services to make your next event an extraordinary success. Terrific Views Flexible Meeting Space with state of the art technology for your next Client Appreciation Galas Fundraisers Planning Sessions Holiday Events Golf Tournaments myoung westonhillsgolf.com www.westonhillsgolfclub.com www.sfbwmag.com SEPTEMBER 2017 954.384.4670 47 FEATURE A grand piano graces a seating area at the Palace at Coral Gables Lifetime of Luxury South Florida gains upscale choices for senior living BY MARTIN LENKOWSKY Why would someone accustomed to the finer things in life have to live without them in their twilight years With the growth of luxury senior living communities in South Florida there s no reason to sacrifice. Life expectancy and overall health are increasing and luxury senior living communities are adding amenities that reflect that trend. Residents might start the day with a fitness class or a swim in a heated pool have a spa treatment and meet friends for cocktails before enjoying a gourmet dinner. It s equivalent to five-star living. Retired scientist Marcia Bosseler has lived in the Palace at Coral Gables for 2 years and loves the lifestyle. This is not a place where I m going to ask What am I going to do today she says. There s so much to do. There are so many people with interesting stories to tell. She takes advantage of everything available at the Palace which has nine senior living communities in South Florida. I m still productive she says. I feel ageless learning and doing new things. A 98-year-old lady is teaching me to play bridge. Bosseler makes use of the free transportation offered by the facility. It s a trolley that takes us around to our appointments and shopping she says. And there s the gourmet dining. The food is very good. They had a new chef last night who made a back to New York deli theme she adds. Aging does not mean slowing down says Michael Brown Jr. executive director of Atria at Villages of Windsor in Lake Worth. Seniors are living longer and healthier. There s a much more energetic senior population today. They re more and more concerned with healthy living. They still want to enjoy our high-end amenities. I think the seniors in South Florida want to exercise every 48 SEPTEMBER 2017 www.sfbwmag.com FEATURE Main lobby Atria at Villages of Windsor day. They want to challenge themselves mentally and physically. From a business standpoint Brown points to a changing paradigm in the South Florida market. He says the traditional buy-in market is giving way to high-end rental communities allowing parents and their heirs not to give away all their liquidity. We think with today s more modern seniors a straight rental business model works he says. People are planning better for the long-term and looking for larger apartments with high-end amenities. Other luxury senior communities have a different business model with buy-ins that sometimes are partially refunded when a resident leaves or dies. Scott Brill is sales manager at Five Star Premier Residences of Pompano Beach a 10-story high-rise across from the ocean. We have more of an active clientele he says. More of our vibrant residents still drive and enjoy going to the beach. Brill agrees the growing trend in luxury senior living is steering towards rental options. The pendulum has swung back to rentals he says. Adam Rosenblum the Palace Group s vice president of marketing agrees. I see more highend rentals he says. People don t want to tie up their assets. As part of maintaining their residents active lifestyles most luxury senior facilities provide restaurant-style chef-prepared meals. With many of today s seniors becoming more health-conscious the communities are paying particular attention to providing nutritionist-supervised meals. Almost all these facilities provide spacious lushly landscaped walking trails along with modern exercise equipment. Many offer physical therapy and massages as part of their spa services. And for those retirees who want to keep the party going another growing trend is happy hours with wine beer cocktails and hors d oeuvres before a formal dinner. Most luxury senior communities offer both independent and assisted-living arrangements. Increasingly they offer secured enclosed areas for residents suffering from memory issues including dementia and Alzheimer s disease. Trained individuals with experience in working with those conditions typically are available on-site. Another common mainstay is 24-hour concierge service for residents. And because many residents-- including some who might still be working--want to keep their business acumen intact business centers are on-site with computers available. Jean Francis Roy who heads Ocean Land developers is planning a luxury rental community in downtown Fort Lauderdale called Riverwalk Residences of Las Olas. The 42-story 401-unit will include independent living assisted living as well as memory-care apartments. He plans to have doctors offices physical therapy and daycare onsite. He sees it as even more than a rental apartment community. It s like a five-star hotel he says. Keith Myers CEO of MorseLife Health System says Today luxury senior living is about creating an environment that is not only opulent but also meets all your lifestyle needs without ever needing to leave home. On the right are some details about some of the communities in South Florida. ALLEGRO (JUPITER) 1031 Community Drive Jupiter allegroliving.com jupiter-fl.html Monthly rates start at 4 132. Amenities include Chef-prepared meals served restaurant-style in main dining room or delivered to rooms. Weekly housekeeping and linen service. Social recreational and educational activities planned by a full-time lifestyle director. Full-time concierge. Fitness and wellness center with exercise classes. Spa services including salon and barber services. Outdoor heated lap pool and whirlpool. Theater with stadium seating. Resident emergency response system. Lush gardens and walking paths. Putting green. In-house cable channel. ALLEGRO (BOYNTON BEACH) Allegro Jupiter has monthly rates starting at 4 132 11450 Hagen Ranch Road Boynton Beach allegroliving.com boynton-beachfl.html Monthly rates start at 3 850. Amenities include Chef-prepared meals served restaurant-style in main dining room or delivered to rooms. Bistro for wine cocktails tapas and special entertainment. Casual dining caf . Fitness wellness center. Salon and spa with sauna whirlpool and steam room. Theater with stadium seating. Woodworking and crafts. Putting green. Library with fireplace. Full-time concierge. Weekly housekeeping and linen service. Scheduled transportation to www.sfbwmag.com SEPTEMBER 2017 49 medical appointments shopping and activities. Social recreational and educational programs planned by a full-time lifestyle director. Outdoor heated lap pool and whirlpool. ATRIA AT VILLAGES OF WINDSOR 9130 Hypoluxo Road Lake Worth atriaseniorliving.com sites atria-at-villages-of-windsor-lakeworth-fl Units are rental-only monthly rates 3 950- 5 800. No entrance fee. Additional charges for salon and spa services liquor at the bar and guest dining. Community scheduled to open Oct. 13 with completion in December. Amenities include Full-time concierge. Fine dining. Hotel resort style pool. Fitness and yoga facilities. Hollywood-style screening room. Modern technology. Chauffeured car service. Pet-friendly environment. month s rent is required and is nonrefundable. Monthly fees are 3 000- 5 000 (independent) or 4 000- 6 500 (assisted and memory care). Amenities include Restaurant-style dining. Recreational and social activities. Heated outdoor pool. Game rooms. Computer center with high-speed internet access. Fitness center. Library. Beauty salon. Putting green. Transportation. 24-hour staff. Laundry and housekeeping. The Residences of United Homecare has a modernistic design Entertainment. Bridge and mahjong groups. Physical fitness yoga and aerobics. 24-hour emergency response on campus. Utilities including cable and Wi-Fi internet access. FIVE STAR PREMIER RESIDENCES OF POMPANO BEACH 1371 S. Ocean Blvd. Pompano Beach fivestarseniorliving.com communities Rental only. Monthly prices 3 100- 4 200. All residents pay a community fee upon admission equal to one month s rent. Two meals per day Oceanview dining room on the 10th floor. All utilities included (except landline phone and internet access.) Private car service for scheduled appointments. Bus for shopping events etc. Housekeeping and laundry services. Swimming pool and whirlpool. LEVIN TOWER AT MORSELIFE FIVE STAR PREMIER RESIDENCES OF HOLLYWOOD 2840 N. Park Road. Hollywood fivestarseniorliving.com communities Rental community with no upfront endowment fees. A one-time community fee equal to one 4850 Ryna Greenbaum Drive West Palm Beach morselifetower.com New community due for completion this month. Rental only with no buy-ins or entrance fee. Monthly rates 5 400- 7 700. One- and two-bedroom floor plans available. Monthly second-person fee of 900. Amenities include Dining at three restaurants--main dining room bistro and kosher restaurant. Spa. Concierge. Fitness classes. Cultural activities fitness author lectures social groups and more. Valet parking. Weekly housekeeping. Indoor and outdoor pools. RIVERWALK RESIDENCES OF LAS OLAS 333 N. New River Drive East Fort Lauderdale Website under construction Construction is slated to begin in the second quarter of 2018. The project should take 30 months to complete. It will consist of a 42-story building with 401 units including 192 independent-living apartments 152 assisted-living apartments and 57 memory care residences. Monthly fees start at approximately 5 000. No admission fees. Pre-qualifying fee applies. Amenities will include Doctors offices on site. Physical therapy. Adult daycare. Full-floor fitness center. Luxury restaurant overlooking Fort Lauderdale. Swimming pool. Business center. Arts and crafts classes. Exercise groups. Computer classes. Transportation. Riverwalk Residences of Las Olas is expected to start construction in the first quarter of 2018 50 SEPTEMBER 2017 www.sfbwmag.com Whether in your home or in ours e Residences of United HomeCare is committed to bringing you the highest quality of assisted living with comfort and compassionate care. The care where you need it WE INVITE YOU TO JOIN OUR FAMILY AHCA License AL12782 Our Residences (786) 878-5140 Your Residence (Platinum Care Options ) Private Duty License HHA 21213096 (786) 507-9144 www.sfbwmag.com SEPTEMBER 2017 51 FEATURE 375 ROYAL PALM 375 E. Royal Palm Blvd. Boca Raton pennflorida.com The formal name of this 193-unit rental community will be determined before groundbreaking begins in early 2018. Opening projected late 2019. Nonrefundable reservation or community fee likely with additional fees based on level of care needed. Amenities will include Recreation and social areas with a wide array of programs. Health and wellness center with physician offices and physical therapy. Salon and spa with heated swimming pool. Art studio. Clubroom with bar. Caf . Fitness center. Library. Covered pool. Courtyard. Group and private dining areas. Concierge services. Housekeeping services. Transportation services. Art studio. Auditorium. Computer business center. Putting green. Card rooms. Wellness center. Library. Salon and barbershop. 23 acres of landscaped grounds. Private dining. Club room with big-screen TVs card tables and billiards. Walking paths. Locker rooms with showers. Concierge. Weekly housekeeping. Scheduled transportation. 24-hour security. Valet parking. Garage parking. Guest suite for rent. Apartment & appliance maintenance. 24-hour nurses in independent living. The formal dining room at Vi at Aventura VI AT AVENTURA THE RESIDENCES OF UNITED HOMECARE TOBY & LEON COOPERMAN SINAI RESIDENCES 21036 95th Ave. S Boca Raton sinairesidences.com Entrance fees start in the low 400 000s with 90 percent refund regardless of stay. Monthly fees start at 3 270 with all utilities included. Amenities include Social recreational educational and cultural programs. Fine dining room with kosher options. Bistro caf . Separate cocktail lounge and courtyard for alfresco dining. Fitness center. Resort-style covered swimming pool. Full-service day spa. Movie theater. 9355 SW 158th Ave. Miami theresidencesuhc.com Community of 122 studio and one-bedroom units. All-inclusive monthly fee 4 100- 5 600 (private residence) or 2 800 (semi-private or residence). Long-term care insurance accepted. Optional fees for companionship services beauty salon barber shop and transportation more than 10 miles. Assisted living care offered for individuals 65-over. No memory care. Amenities include Lake view. Gourmet dining room. Gym. Designated parking. Complimentary transportation up to 10 miles. Beauty salon. Barber shop. Recreation spaces. Active cultural and social monthly events. 19333 W. Country Club Drive Aventura miami.viliving.com Entrance fees begin at 184 000 depending on floor plan and return options (zero 50 or 90 percent). Monthly fee begins at 4 110. Oneand two-bedroom plans (with and without dens) available. Amenities include Patio or balcony. Large bedrooms with safety features Washer and dryers. Basic utilities. Emergency call system. Digital cable TV. Housekeeping. Regularly scheduled maintenance. Valet parking services. Spa and beauty services. Happy-hour cocktails. Library. Hotel-style rooms available for guests by reservation. Two pets per residence under 30 pounds. Healthy chef-prepared meals. Casual bistro dining and fine dining restaurants with table service. Fully stocked bar and a curated wine list at an additional charge. Custom-tailored menus. Formal and casual indoor and outdoor dining. Private dining room. Carryout & delivery service options. Cultural and community activities. Scheduled transportation to churches and synagogues. Fitness center with instructors and classes. Heated salt-filtered indoor pool and whirlpool. Paved walkways. Landscaped courtyards. Close to Waterways Dog Park. VI AT LAKESIDE VILLAGE 2792 Donnelly Drive Lantana lantana.viliving.com Admission fee starts at 155 900 based on floor plan and repayment options (zero 50 or 90 percent). Additional fees apply for miscellaneous items such as salon services and alcohol. Amenities include Large closets and bedrooms with safety features. Patio or balcony. Washer and dryer. Kitchen. Basic utilities digital cable TV and an emergency call system. Weekly housekeeping. Regularly scheduled maintenance and home repairs. Scheduled transportation for shopping outings and appointments. Salon at Lakeside Village. Happy-hour cocktails. Gourmet meals. Breakfast in the gazebo. Healthy meals that answer nutritional needs. Casual bistro-style and fine dining restaurants with table service. A fully stocked bar and a curated wine list (additional charges apply). Exercise equipment. Fitness instruction and classes including yoga Zumba and tai chi. Gardens & landscaped walkways. 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Become a member and EXPERIENCE BETTER BUSINESS today Visit FTLChamber.com join or call us at 954-462-6000 for more information. FTLCHAMBER.COM JOIN 512 NE 3rd Ave Fort Lauderdale FL 33301 54 SEPTEMBER 2017 www.sfbwmag.com Info FTLChamber.com 954-462-6000 www.sfbwmag.com SEPTEMBER 2017 55 THIERRY ISAMBERT THE ART OF CULINARY Thierry Isambert Culinary and Event Design has been a well known name in the South Florida events and hospitality industry for almost 30 years. The company stands out from the crowd by raising the bar for catered events creating culinary experiences that equal the level of taste and expertise expected of an award-winning restaurant. Their staff of creative event planners and innovative chefs hail from around the world using their international flair and years of combined experience to produce and cater weddings luxurious galas upscale corporate events and a variety of social functions. CULINARY Master Bringing the culinary mastery of gourmet restaurants to the event industry. Thierry Isambert has risen from entrepreneur to celebrity chef-caterer earning the prestigious L ordre du Merit Agricole from the Ministry of France for his culinary excellence business integrity and community involvement in charitable events. In addition to catering and producing an array of events around South Florida Thierry Isambert Culinary and Event Design is exclusive caterer to the New World Center and the Bass Museum of Art. Thierry Isambert is from the Champagne region of France. Deeply influenced by French tradition he also gathers inspiration from extensive travels bringing the exotic tastes and flavors of far flung destinations to menus that are custom designed for each event. You ll be amazed by the culinary diversity coming out of one kitchen. From highly structured creations based on 17th century European recipes to Venezuelan street food authentic Indian cuisine and Interactive Teppanyaki Stations each culinary experience is as flawless as the next. For more information about catering and event production call 305-635-6626 or email info thierryisambert.com. For information about the company go to www.thierryisambert.com 56 SEPTEMBER 2017 www.sfbwmag.com PRESENTED BY FOR MORE INFORMATION VISIT OUR WEBSITE SFBW s Fourth Annual Apogee Awards will recognize distinguished leaders in the region s C-suite from Chairman CEO Vice President COO and President to CFO CIO CMO and HR Leader. An executive in each category will be honored for Miami-Dade Broward and Palm Beach counties. FOR MORE INFORMATION VISIT OUR WEBSITE www.SFBWmag.com signature-events apogee Please visit our website for more information and to purchase tickets. GOLD SPONSORS www.sfbwmag.com SEPTEMBER 2017 57 CEO CONNECT POWERED BY Keith Costello makes a quip during his interview with SFBW Chairman and CEO Gary Press Keith Costello leads a rapidly-growing community bank for social change Keith Costello is the president and CEO of First Green Bank a community bank with 650 million in assets. A 25-year veteran of financial services Costello has been featured in numerous local regional and national media and he often serves as a speaker and panelist for financial events and conferences. He started his career as a financial consultant at Merrill Lynch in 1987 after leaving the U.S. Army as a captain. Until October 2015 Costello served as Division President South East Florida Region with Centennial Bank. He began this role as a condition of the sale of Broward Bank of Commerce which was purchased to Home BancShares (Centennial Bank HOMB Nasdaq) in October 2014 at one of the top valuations since the recession. At the time of the purchase he served as president and CEO and was an organizing director of Broward Bank of Commerce headquartered in Fort Lauderdale. Broward Bank of Commerce was one of the last new banks chartered in the United States opening in January of 2009. Costello has a bachelor s degree from the University of Tampa and an MBA from the University of Miami. He also is a chartered financial analyst. He is on Fort Lauderdale s Economic Development Advisory Board and the chairman of the Greater Fort Lauderdale Chamber of Commerce. SFBW Chairman and CEO Gary Press interviewed Costello at the Pelican Grand Beach Resort in Fort Lauderdale. The following transcript has been edited for clarity and brevity. How did First Green Bank get its name and how does it exemplify its values-based business model First Green Bank started in Central Florida with Ken LaRoe who lives in Mount Dora. Ken was very passionate about the environment and wanted a bank that was environmentally friendly and was concerned about doing something for society. Green Banking 58 SEPTEMBER 2017 www.sfbwmag.com CEO CONNECT We opened our Fort Lauderdale branch last summer on Davie Boulevard. We eventually joined an organization Global Alliance for Banking on Values. It s funny in Mount Dora it s really a rural area so people weren t buying into environmental problems. But when we opened in Orlando and in South Florida we found that people do relate to what s going on in the environment with sea level rise being a big concern. We are big advocates for doing something about sea level rise big advocates for solar energy. First Green has extensive benefits including paying 100 percent of health care insurance premiums 100 percent of life insurance short-term disability and longterm disability premiums. Have you been able to measure how this impacts recruitment and retention We also pay a living wage. In the banking industry you have people working as tellers and back office people so then again it goes along with our social mission that we want to make sure that our employees are well taken care of. And we think it pays off in employee loyalty and in the way our employees treat our customers too because they feel that they are really well taken care of. What s the bank s game plan in the near term and long term Last year in June we were at 415 million in assets. We have grown that to about 650 million so we had almost 60 percent growth in a year which makes us one of the fastest organically growing banks in the state. A lot of that has been driven by the fact that we have this great team. To be able to grow like that has been easy for us. Moving forward it may not be as easy. We are building our South Florida headquarters in Fort Lauderdale. We want to make it a technologydriven and community-oriented office. We want to make it interactive put in a gym a cafe a community center and have activities that will bring people together. Mike Moore and Brett Steele Gary Press Kathleen Cannon Keith Costello and Mike Moore Patricia Kneski Jorge Garcia and Heidi Dennis www.sfbwmag.com SEPTEMBER 2017 59 CEO CONNECT What would you like to see in terms of rollback of federal rules for banking The new administration is much more pro-business than the last administration. Bank stocks were up tremendously just because of the fact that there s a perception that there will be less regulation. Community banks have been the backbone of small business lending for years. There used to be more than 300 banks in Florida. There are now 130-- it s not economically viable with the existing regulations. With the large amount of capital that they are now requiring to start it doesn t make sense economically. It s that one hurdle they need to get over where they allow banks to start with less capital. There s concern over whether South Florida has a condominium glut. First Green recently granted a 12.72 million loan for the Wave on Bayshore--do you still see opportunities in the market I think in Broward County we aren t seeing as much construction as MiamiDade but what we have looked at is quality developers smaller projects where our risk was limited. We aren t doing massive construction projects. What are your thoughts on where we are in the business cycle in general I belong to Vistage a CEO group that is worldwide and a very respected organization. We are CEOs who help other CEOs at becoming better at running their business. It is thought that we will have a downturn in 2019--but it won t affect businesses too severely. Through 2020-29 it s going to be a good 12 years. That s how we are operating our business now. What are your goals as chairman of the Greater Fort Lauderdale Chamber of Commerce I ve been involved in the chamber for 30 years. This year we are focused on regionalism which has become a big issue. So are transportation coastal resiliency sea level rise and communitybased real estate developments. We are Kevin Greenberg and Lisa Montejo Jack Palmeri Lori Castle Maura Rossi Denise Casale and Lindsay Kunca Max Poliav Alma Kadragic David Saffer Bridget Guerrero and Angel Torres 60 SEPTEMBER 2017 www.sfbwmag.com CEO CONNECT This edition of CEO Connect was held in the oceanview ballroom at the Pelican Grand Beach Resort in Fort Lauderdale really concerned now since there are a lot of people in Fort Lauderdale who don t want to see any more development because traffic is terrible. So there s a backlash with citizens. And we all know that one of the reasons we are doing so well right now is because of development. We have to be careful in how we address this. Who has been important as a mentor and why I had a couple. Bill Allen who was a legend in Miami. He died two years ago. And the other person is Leonard Abess Jr. chairman of City National Bank before it was sold. I worked from 1997 to 2005 there and Leonard really took me under his wing and taught me banking. www.sfbwmag.com SEPTEMBER 2017 61 CEO CONNECT About CEO Connect SFBW s CEO Connect series is an exclusive invitationonly monthly event that brings together South Florida s top business leaders to meet and mingle. The presenting sponsor is Celebrity Cruises. Gold sponsors include Greenspoon Marder Shorecrest Construction TD Bank Optime Consulting and Pelican Grand Beach Resort. The evening begins with a cocktail reception for about 100 guests followed by the highlight of the event a live interview conducted by Gary Press SFBW chairman and CEO and a well-known C-level executive providing insight into their personal lives careers and views on issues affecting the business community. Partnering with SFBW on this exclusive event provides an opportunity to network with the area s business elite generate new business opportunities and increase brand awareness. For information about event sponsorship Attorney Dana Somerstein of sponsor Greenspoon Marder greets attendees opportunities email Clayton Idle at cidle sfbwmag.com. When your company needs more Certainty. Influence. Significance. Growth. In Business Development Brand Amplification Market Expansion Talent Strategies www.GROWINGandEXPANDING.com COI access 62 SEPTEMBER 2017 www.sfbwmag.com ...connecting centers of influenceTM birthdays non profit fundraising corporate team building networking special occasions venue buyouts shows Photo taken from inside all new 16 000 sq ft event space performance venue & skating rink introducing a unique venue with something fun for everyone With over 200 000 sq ft of Attractions Entertainment & Meeting Rooms Xtreme Action Park is the Largest Entertainment Venue in Florida. We offer Go Kart Racing Bowling Arcade a Ropes Course Adventure Bazooka Blast Trampoline Park Skating Rink Antique Auto Museum Escape Rooms All American Caf Hershey s Ice Cream Shake Shoppe a full Liquor Sports Bar and more to come Customize your special event in our wide variety of spaces offering unique features such as Trackside Views Skybox Second Level Seating and Custom Themed Decor. Most rooms offer easy plugin A V Features. On-site Catering and a Full Liquor Bar is Available. conveniently located in Fort Lauderdale Florida 954.491.6265 www.sfbwmag.com SEPTEMBER 2017 63 CEO CONNECT POWERED BY SFBW Chairman and CEO Gary Press interviews Florida Atlantic University s football coach Lane Kiffin. Lane Kiffin s humorous banter lights up CEO Connect Lane Kiffin was named Florida Atlantic University s head football coach in December. He joined the Owls after three seasons at the University of Alabama where he served as the Crimson Tide s offensive coordinator and quarterbacks coach. The team won the national championship in 2016 and Kiffin was a finalist for the Frank Broyles Award in 2014 which goes to the country s top assistant coach. Before that Kiffin spent more than three seasons as coach at Southern California where he went 28-15. Previously he was coach at Tennessee (2009) and the NFL s Oakland Raiders (2007-08) where at age 31 he was the youngest head coach in pro football s modern era. Before he became a head coach Kiffin spent six years as an assistant at Southern California including two years as the offensive coordinator. During that stint USC won two national championships and compiled a 65-12 record. He graduated from Fresno State in 1998 after playing quarterback for three seasons and he began his coaching career as a student assistant at Fresno State under Pat Hill in 1997 and 1998 before moving on to Colorado State in 1999 as offensive line assistant. He spent 2000 as defensive quality control assistant with the NFL s Jacksonville Jaguars under Tom Coughlin. Kiffin attended Bloomington (Minn.) Jefferson High where he played football basketball and baseball. He has two daughters Landry and Presley and one son Knox. SFBW Chairman and CEO Gary Press interviewed Kiffin at the Broken Sound Club. The following transcript has been edited for clarity. You are in such a public position where when you get fired its front-page news. What advice can you give to those of us who experience setbacks-- Coach on Fire 64 SEPTEMBER 2017 www.sfbwmag.com CEO CONNECT although usually behind closed doors Um that s a positive way to start. We ll give you better questions as we go along. Yes I have been fired so please don t video this. In those situations you do feel like everyone is looking at you. Especially when I was still in the city where I got fired everyone s looking at me. You get judged. I had to let it go and say OK I know what we did I know what happened and I know where we are going. And you can t worry about what everyone is saying. My advice Just ignore it. Those of us in business know how difficult it is to recruit talent. What has been your strategy to do that at FAU and how happy are you with your first recruiting class I would urge you not to hire on r sum s. We get these people who come in all the time and they ve been to these big places and everything looks good on paper but you can tell they don t have any passion. I ve found that those who have passion and are excited to be a part of the team and you can mold versus the ones who are already stuck in their ways make the best hires. What would you need to accomplish to consider your first season at FAU a success We don t look at things like needing to win this many games to be successful. It really is about just like in your companies continuing to get better. You keep pounding a rock every day. We are trying to make small wins every day. You have to focus on the process not the outcome. The outcome is the scoreboard. The outcome is how many wins at the end of the year. I can t affect that. I can affect the process which how I go about things every single day and that will work on the outcome. Bonnie Kaye Danielle Rosse Mark Murrison Pat Howard and Rick Howard Michael Fisher and Christopher Thomson Keith McCluney Jason Doherty Jamie Doherty and Stephen Hammond flash the FAU Owls sign www.sfbwmag.com SEPTEMBER 2017 65 CEO CONNECT David Hollander and Lisa Vogt What do you think of Alabama coach Nick Saban I spent the last three years with Nick coaching in Alabama and it really was good. I was interviewed by a paper when I was there and I said that being there was like dog years and he didn t like that. What I meant was every year there was like seven years of education with him so it was like having 21 years of education in three years. Because he s the best at what he does. What he does as CEO of the program is that there is nothing that goes on in the program that he doesn t know. Nothing gets done unless it goes through him. He leads by example and everyone sees it. He s the first one in the office he s the last one to leave. What s it like living in Boca Raton compared with Tuscaloosa and some of the other places you ve lived as a coach It s great. Boca is like Los Angeles. People have other things to do and a lot of people don t know who you are which is good. When you are in SEC territory like Knoxville or Tuscaloosa you don t ever go to the gas station or grocery store because it would take two hours because everyone would stop you to take pictures and ask for autographs. Gary Press Lane Kiffin John Crean Bonnie Kaye and Jon Kaye Given your name recognition there will always be jobs out there for you. What was the allure of coming to FAU I just figured out that I can read your note cards so I can figure my answer out before you ask. OK here s the next one. I don t like that one go to the next. The allure really came during the interview process. Being in a lot of interviews over the years you can tell as you go through it which company which university is really dedicated to winning. To see FAU s president John Kelly at my interview which isn t normal--you usually meet the president at the end Marty Cass Marti LaTour Gerry Litrento and Stephen Politziner 66 SEPTEMBER 2017 www.sfbwmag.com CEO CONNECT of the process--not only was he there but he was driving the interview. He had been at Clemson and had seen how championship football changed an entire university. That was very critical to see the leadership here and his dedication to bring a championship program to FAU. What are your tried-and-true tactics to motivate players and how has that changed over the years Everyone is different. I am going to treat you fairly but I m not going to treat you the same. And so we find different ways to motivate our players. That goes back to understanding your employees to what motivates them. What keeps you up at night I sleep well actually. I m in Boca. Sometimes leaders of organizations find themselves in bad situations which seems to have happened during your time at USC. [The football team was penalized in 2010 by the NCAA for breaking recruiting rules. The punishment included a two-year ban on postseason play a reduction in available scholarships and forfeiture of 14 victories.] How did you handle that and what advice would you give to someone in that sort of situation I talk to our players and coaches all the time and say [Expletive] happens. All right. So now what Sure we can focus on all the bad things at your company. We can sit and complain about it all day long but what are we going to do really And I got that from a motivation guy years ago who used to come and help us with our program. As harsh as it sounds one of his buddies got cancer and he went there and said to him So what now what I use that a lot with our players when they go through tough things. So that was our situation we got hit with all these scholarship reductions saying we would never win any games and so what can we do to find our way out of it and figure it out. Too many people waste time complaining. You have to move forward. Do you use any tests or assessments with players We are limited by recruiting rules [in college]. In the NFL you can do more of giving tests to your players. I think that if I wasn t limited by the rules I would use personality profiles. Those will tell you a lot. Not only are you looking for a type of person you need a balance within your unit so you have people who are more soldier types more creative types and you can mix it www.sfbwmag.com SEPTEMBER 2017 67 CEO CONNECT in. Once our players are here we are allowed to use assessments and that helps coaches figure out how the person is motivated and how to deal with the person. This is why this player isn t learning. Or this is why these employees aren t responding. Say you re yelling at the person. Sometimes that doesn t work so you it s better to bring them in one-on-one. You have to have the right dynamics on your staff and bring out each person s strengths. Let s not focus on the negatives but on what they can do and empower them. Where did you grow up Everywhere. I ve moved about 25 times. Aside from Saban who were your key mentors I was at USC for six years as assistant coach with Pete Carroll where we won a couple of national championships and had three Heisman [Trophy] winners. I ve been very fortunate to be with him and coach Saban who are opposites. That shows you it s not how you run your business it s that you have a philosophy on how you run it and you stick with it. How do you put losses behind you or do they tend to gnaw at you First off I go by the 24-hour rule. So whatever happened good or bad when it is 24 hours later you ve got to move on. Because that loss can hurt you and cause more loss. We ve got to get over it. It s actually harder when you have a big win. You think everything is great now so you can coast. I ve screwed that up being younger. Do you have any personal goals I never look at personal goals. I m not saying that s right or wrong. I just enjoy going to work and I enjoy getting our players better. And I enjoy coaching our coaches improving them and seeing where that takes us. About CEO Connect SFBW s CEO Connect series is an exclusive invitationonly monthly event that brings together South Florida s top business leaders to meet and mingle. The presenting sponsor is Celebrity Cruises. Gold sponsors include Greenspoon Marder Shorecrest Construction TD Bank Optime Consulting Broken Sound Club and Kaye Communications. The evening begins with a cocktail reception for about 100 guests followed by the highlight of the event a live interview conducted by Gary Press SFBW chairman and CEO and a well-known C-level executive providing insight into their personal lives careers and views on issues affecting the business community. Partnering with SFBW on this exclusive event provides an opportunity to network with the area s business elite generate new business opportunities and increase brand awareness. For information about event sponsorship opportunities email Clayton Idle at cidle sfbwmag.com. You Dream It....We Make It Happen DJ services party rentals LED dance floors LED furniture LED photobooths We provide services for Weddings Bar Bat Mitzvahs Birthdays Corporate Events Sweet Sixteens Quincea eras Anniversaries Holidays Reunions & much more 5702 NW 119th Terrace Coral Springs FL 33076 Cell 914.629.2877 Of ce 954.594.4725 w w w. J R P r o d u c t i o n s f l .c o m 68 SEPTEMBER 2017 www.sfbwmag.com J ackm a n s O R OBE 29 20 CT FEED NEED B T HE BRU N C H Goodman Jewish Family Services of BROWARD COUNTY 17 SPECIAL QUARTERLY REPORT COMMERCIAL REAL ESTATE POWERED BY Amazon Deals and the State of Industrial Supply BY DARCIE LUNSFORD Amazon s new urban-infill hub and mega-fulfillment center in MiamiDade County reignited bullishness in the second quarter and South Florida s sizzling industrial streak still has plenty of room to run. The e-commerce giant signed a lease on a more than 800 000-square-foot fulfillment center near the Miami-Opa Locka Executive Airport and opened a 50 000-square-foot Prime Now facility in Wynwood. The facility delivers groceries to doorsteps in some Miami-Dade ZIP codes within an hour. The deals have many industrial dealmakers buzzing game on for a new era in the e-commerce industrial boom. Amazon is definitely the 800-pound gorilla of industrial and it is changing the retail-versus-industrial ratio says Michael Silver a vice president at CBRE who was part of the team that put together the joint venture that landed the 92 million lease with Amazon at the Carrie Meek International Business Park. Amazon s warehouse equipped with sophisticated racking and robotic sorting systems also will reach new ceiling heights for a South Florida warehouse--it s more than four stories tall. Silver says he expects more e-commerce facilities to follow as online retailers race to achieve breakneck speeds in the so-called last mile of the distribution chain. While Amazon s activities were big news they were just part of a second- quarter awash with 2.2 million square feet of executed industrial leases in MiamiDade according to CBRE data. Vacancy rates continued their general trek downward to end the quarter at 3.3 percent. Rents rose a modest 3 percent data showed. Broward and Palm Beach counties while more measured also saw industrial fundamentals remain robust. In one notable transaction automotive energy and lubricant products distributor U.S. Venture leased 97 326 square feet at the new Bridge Point I-95 industrial park on West Sunrise Boulevard. Brian Latta vice president of development for Bridge Development Partners the muscle behind the new 306 446-square-foot project says Broward s scarcity of development land causes construction constraints on new inventory particularly for large projects and Amazon-sized occupants. This dynamic drives the baseline land costs for developers and rents for tenants. Broward County rents creeped up 3 percent over a year. Palm Beach County s industrial market saw rents slip 3 percent while vacancy dipped 0.2 basis points year-over-year. That s due in large part to a wave of new for-lease projects paired with users opting to buy rather than lease says veteran industrial broker Robert Smith of CBRE. But with building prices now exceeding previous peak levels he says users are now shifting back to leasing. In the office sector Palm Beach County s second-quarter rent growth outpaced Broward and Miami-Dade rising 13 percent compared to the previous year. Broward s rents grew 9 percent and Miami-Dade rents rose 8 percent. Vacancy fell across the tri-county region. Most new office construction has taken place in Miami-Dade. There s almost a million square feet of it much tucked into massive mixed-use downtown developments. But the dearth of new product in the less-expensive suburban markets has made it harder for largefootprint users to attain new and efficient offices. If you had a 25 000-square-foot user you would only have a handful of options says Caroline Fleischer managing principal of tenant representation firm Cresa South Florida. Companies seeking even larger blocks 100 000 square feet or more are now considering creative options such as retrofitting older facilities designed for different or more-intense uses she says. I don t think we are going lose corporate America coming to South Florida but it does create new challenges she says. Freelance writer Darcie Lunsford is a former real estate editor of the South Florida Business Journal. She is the senior VP for leasing at Butters Group and is avoiding a conflict of interest in her column by not covering her own deals. 70 SEPTEMBER 2017 www.sfbwmag.com CBRE MARKETVIEW SNAPSHOT BROWARD COUNTY OFFICE Q2 2017 Vacancy declines 260 basis points year-over-year VACANCY RATE Commercial NET ABSORPTION (SF) Commercial UNDER CONSTRUCTION (SF) Commercial DIR. ASK RATE (S SF NNN) Commercial 22.3% Cypress Creek 22 895 Cypress Creek 0 Cypress Creek 15.27 Cypress Creek 13.5% Downtown CBD Downtown CBD 136 264 52 121 Plantation 0 Downtown CBD 15.78 Downtown CBD 10.6% Plantation 0 Plantation Plantation 27.52 18.66 Sawgrass 9.8% Sawgrass 24 464 Sawgrass 0 Sawgrass 6.4% Southwest Broward 3 207 Southwest Broward 0 Southwest Broward 20.00 Southwest Broward 10.9% MIAMI OFFICE Q2 2017 Lease rates grew 8% year-over-year VACANCY RATE Airport Doral 33 492 0 21.44 NET ABSORPTION (SF) Airport Doral UNDER CONSTRUCTION (SF) Airport Doral DIR. ASK RATE (S SF NNN) Airport Doral 7.4% Aventura Aventura 62 400 Aventura 246 085 Aventura 28.42 43.08 Biscayne Boulevard 8.3% Biscayne Boulevard 12 339 Biscayne Boulevard 40 000 Biscayne Boulevard 12.8% Brickell (4 699) Brickell 41 923 Brickell Brickell 37.98 44.54 Coral Gables 10.1% Coral Gables 20 034 Coral Gables 30 000 Coral Gables 8.4% Downtown Miami 34 971 Downtown Miami 228 808 Downtown Miami Downtown Miami 38.11 40.28 19.9% (111 161) PALM BEACH COUNTY OFFICE Q2 2017 Lease rates increase 13% year-over-year VACANCY RATE Boca Raton NET ABSORPTION (SF) Boca Raton 318 000 UNDER CONSTRUCTION (SF) Boca Raton DIR. ASK RATE (S SF NNN) Boca Raton 14.5% Boynton Beach Boynton Beach 30 571 30.2% (400) Delray Beach 0 Boynton Beach 20.75 Boynton Beach 0 Delray Beach 15.38 Delray Beach Delray Beach 46.9% North Palm Beach (7 504) North Palm Beach 0 North Palm Beach 17.45 North Palm Beach 8.2% Palm Beach (11 034) Palm Beach Palm Beach 63 500 0 West Palm Beach 21.60 Palm Beach 13.5% West Palm Beach (16 244) West Palm Beach 41.80 West Palm Beach 16.4% 53 602 0 22.11 www.sfbwmag.com SEPTEMBER 2017 71 CBRE MARKETVIEW SNAPSHOT BROWARD COUNTY INDUSTRIAL Q2 2017 Construction activity tops 1 million sq. ft. VACANCY RATE Central Broward NET ABSORPTION (SF) Central Broward UNDER CONSTRUCTION (SF) Central Broward DIR. ASK RATE (S SF NNN) Central Broward 5.1% Coral Springs (4 114) Coral Springs Coral Springs 306 466 Coral Springs 10.43 8.10 Northeast Broward 3.6% Northeast Broward 18 207 Northeast Broward 151 050 Northeast Broward 7.9% Pompano Fort Lauderdale 29 124 Pompano Fort Lauderdale 355 114 Pompano Fort Lauderdale 8.67 Pompano Fort Lauderdale 3.2% Southeast Broward (2 340) Southeast Broward 0 0 7.97 Southeast Broward Southeast Broward Southwest Broward 3.6% Southwest Broward 55 167 Southwest Broward 8.95 Southwest Broward 7.9% MIAMI INDUSTRIAL Q2 2017 Vacancy continues to remain tight VACANCY RATE Airport Doral 119 509 301 175 8.19 NET ABSORPTION (SF) Airport Doral UNDER CONSTRUCTION (SF) Airport Doral DIR. ASK RATE (S SF NNN) Airport Doral 3.3% Central Dade 15 691 Central Dade Central Dade 1 102 313 Central Dade 9.86 7.75 Hialeah 3.5% Hialeah Hialeah 89 684 4.9% (151 523) 224 609 0 Hialeah 8.30 Kendall Tamiami Kendall Tamiami Kendall Tamiami Kendall Tamiami 0.7% Medley 64 270 Medley 25 387 Medley Medley 10.34 695 493 South Dade South Dade 4.2% South Dade (80 920) South Dade 8.50 8.98 4.7% 32 873 0 PALM BEACH COUNTY INDUSTRIAL Q2 2017 Lease rates stabilizing as new supply comes online VACANCY RATE Boca Raton NET ABSORPTION (SF) Boca Raton UNDER CONSTRUCTION (SF) Boca Raton DIR. ASK RATE (S SF NNN) Boca Raton 3.5% Boynton Beach 39 442 Boynton Beach 0 Boynton Beach Boynton Beach 12.92 8.06 Jupiter 1.7% Jupiter (273) Jupiter 0 Jupiter 1.7% Lake Worth (1 204) Lake Worth 0 Lake Worth 9.80 Lake Worth 5.5% Riviera Beach 80 745 Riviera Beach 0 0 8.11 Riviera Beach Riviera Beach West Palm Beach 2.2% West Palm Beach 9 020 West Palm Beach 7.27 West Palm Beach 5.0% 207 908 166 392 8.71 72 SEPTEMBER 2017 www.sfbwmag.com Businesses are meant to grow. Ocean Bank offers loans to make it possible. From diversifying your existing business to expanding the office space or opening a new location Ocean Bank loans will help your business get to the next level. Together let s grow the future of your business. Subject to credit approval. 2017 Ocean Bank. Member FDIC. 305-569-LEND (5363) www.sfbwmag.com SEPTEMBER 2017 73 NONPROFIT GOVERNANCE Desire to Inspire BY GERRY CZARNECKI Denny Sanford is an entrepreneur and generous philanthropist. He has given away more than a billion dollars and he has no plans to stop. Sanford made his fortune as the owner of First Premier Bank and Premier Bankcard but his plan is to die broke as he often says because he continues to give away money to a wide range of causes. In 2014 he founded the Sanford Institute of Philanthropy in La Jolla California through which he has partnered with a Florida organization the National Leadership Institute. to help teach fundraising skills to nonprofit organizations. SFBW recently interviewed Sanford about his charitable work. What types of projects or causes do you focus on I am passionate about finding new ways to impact the world. I only give to new approaches. One might say leading-edge initiatives. I want to give the new thinkers the benefit of making advances based on being creative. When somebody comes to you asking for money what is the biggest mistake that many make Too many fundraisers have a goal for a specific project and if they haven t listened long enough to learn what I am interested in then those people ultimately fail to get my attention. Because I am not going to give to something that is not already one of my passions. In talking to the board directors of a nonprofit organization what advice would you give That is easy. Make certain you have the right leadership and management in charge of the organization. I tell people all the time when I started Premier Bank we were really different in a sea of financial institutions but the thing that made our company so successful was the people running it. They worked together and they achieved greatness. The same thing must be there for any nonprofit to succeed. You consistently tell philanthropists they should desire to inspire before you expire. What drove you to say that and what are you doing to achieve that Well as you know I have given away a lot of money and I want every penny of it to make a difference. I want the people and organizations who get that money to be inspired themselves so that they can change the lives of those who experience their programs. As you know at the Sanford Education Center at National University I have funded three magnificent programs Harmony Inspire and the Sanford Institute of Philanthropy. All three of these programs are near and dear to my heart. They all inspire their targeted population to become better at who they are and what they do. What should people know about those programs They started with an encounter with John Gray the author of Men Are From Mars Women Are From Venus. When I read that book the first thing that came to me was this may be great for adults but just think if we could impact millions of kids to learn these concepts when they are kids. We could potentially bring about change and prevent the erosion of male-female relationships that all too often lead to single-parent families and even more often neglected children without two parents to guide them. I tried to get him to work with us but he was a sociologist not an educator. I finally found some folks who could develop the idea I had for kids. It s called the Harmony program and is now used at the National University in San Diego. We have impacted tens of thousands of kids. Another program Sanford Inspire provides teachers a tool kit to inspire kids by getting them to believe in themselves. Most of us know that it was not the smartest teacher who made a difference in our learning--it was the one who inspired us to learn. That program has expanded nationally and we are teaching tens of thousands of teachers all across the country to become the inspiration for the leaders of tomorrow. Then there is the Sanford Institute of Philanthropy. We are spreading the idea that it is the cause that matters for fundraisers not the financial goal. This program is growing and we have a wonderful affiliate in Florida the National Leadership Institute that is working to provide serious philanthropic fundraising training for all who are willing to learn. Gerry Czarnecki is founder and chairman of the nonprofit National Leadership Institute (nationalleadershipinstitute.org) which helps boards of nonprofit organizations become strategic assets to the leadership team. His extensive background as a C-suite executive and CEO is coupled with current board leadership of corporate and nonprofit organizations. He is also chairman and CEO of the Deltennium Group. Contact him at 561.293.3726 or gmc deltennium.com. 74 SEPTEMBER 2017 www.sfbwmag.com SEPTEMBER 7 00 PM www.gildasclubsouthflorida.org 954-763-6776 www.sfbwmag.com SEPTEMBER 2017 75 TECH HUB New Citrix CEO Arrives at a Crucial Time BY CHRIS FLECK To the public David Henshall may not be a recognized tech name but to Citrix employees partners customers and investors he is admired and well respected. Henshall has been with Citrix since 2003 serving as chief financial officer and chief operations officer. He s helped lead a time of consistent growth and profitability. Citrix Systems headquartered in Fort Lauderdale is a leading enterprise software vendor that IT organizations use to securely deliver apps and data to employees at more than 400 000 organizations including 99 percent of the Fortune 500. Citrix employees welcomed the announcement seeing Henshall as an insider an expert at company operations and a leader who values Citrix culture and investment in innovation. Solution provider partners that resell Citrix had a positive reaction as well based on Henshall s recognized value of the channel ecosystem. A recent article in CRN magazine highlighted numerous positive sentiments from partners. Shareholders and analysts have responded positively to the change as well. Citrix has been on a journey of transformation from traditional premise-based software sales with upfront sales to a cloud model where apps run in the cloud and software is purchased as a subscription. This is positive for long-term financials but can cause a short-term impact to revenue growth. Product and engineering innovation is also essential for transformation to the cloud to gain efficiencies and provide compelling new solutions to customers. The Citrix board of directors felt Henshall was best suited for the role at this critical time. Henshall will have a lot on his plate leading the next Citrix transformation but he is well prepared and ready for the challenge. I joined Citrix more than 14 years ago because I believe in this company its mission and our amazing teams around the world Henshall says. And I ve stayed all these years because I still believe in that mission and the innovation we provide for our customers. I m excited to lead Citrix through this next great chapter as we dare to reimagine the future of work. Chris Fleck is on the board of the South Florida Technology Alliance and vice president of emerging solutions for Citrix Systems (Nasdaq CTXS) a Fort Lauderdale company that provides secure delivery of applications and data. 76 SEPTEMBER 2017 www.sfbwmag.com EXCELLENCE IN HUMAN RESOURCE AWARDS 2018 Presented By CALL FOR NOMINATIONS Celebrating human resourcefulness The Excellence in Human Resource Awards will celebrate the region s outstanding HR professionals who build and nurture the talent within their organizations. SFBW is excited to recognize these individuals who have helped to elevate local companies to the top of their industries. We will be honoring HR professionals in the following industries Accounting Banking & Finance Services Education Health Care Hospitality Insurance Legal Marketing & Public Relations Non-Profit Real Estate & Construction Technology Transportation & Logistics Lifetime Achievement Award For event details and to purchase tickets VISIT OUR WEBSITE www.SFBWmag.com signature-events HR-awards GOLD SPONSOR www.sfbwmag.com SEPTEMBER 2017 77 SALES STRATEGIES Turn Brainstorming on its Head BY GRETA SCHULZ I know many of you have tried brainstorming. The idea is a good one coming up with creative ways of solving an issue or attacking a project. There are so many reasons to do brainstorming activities with your team but brainstorming has been overdone. The term was popularized in 1953 when advertising executive Alex Osborn published a book Applied Imagination in which he used it to describe group thinking as more powerful and efficient than individual problem-solving. He used it to overcome the poor creative output he was receiving from his employees. Should we stop brainstorming No we just need to do it more effectively. Here are some new approaches. Sticky notes are your friend. Allot a few minutes to have all participants write out their working ideas on sticky notes. These don t have to be complete thoughts. Collect all of the notes and arrange them on a board as a progression first this then that. Organizing your ideas as a sequence will help you see new connections. There may be a few strings of ideas that is fine. Put them up and then discuss them. Pass it around. Give everyone in the group a piece of paper and then pose a question or problem. Everyone gets a minute to write down a solution and then they pass it to someone else in the group who gets two minutes to read it and improve on it. Often we can see each other s thoughts more clearly and critically than our own. Quick questions. When someone has an idea have him or her stand before the group and allow other members to ask questions quickly about the idea but not give feedback. Having to answer questions quickly will draw out more organic responses. The result could be a solution to a problem you didn t know you had or a new direction you haven t thought about. Building blocks. In this exercise participants simply write down a few rough ideas for solving a particular problem on a piece of paper. Each piece of paper is then passed on to someone else who reads it silently and adds their own ideas to the page. This process continues until everyone has had a chance to add to each original piece of paper. The notes can then be gathered ready for discussion. Go negative. The No. 1 thing that hangs up brainstorming exercises is repeated unsuccessful attempts to solve a problem. Obviously that s why we usually hold brainstorming sessions but when you feel like you keep hitting a wall try changing your thinking Instead of trying to figure out the best thing to do try to think of the worst. How would you get fewer clients and worse reviews Then turn those ideas around. The advantages of brainstorming are so vast it s worth trying it again in a different way. Put your next idea to the test and let me know how it worked. Greta Schulz is president of Schulz Business a sales consulting and training firm. She is the best-selling author of To Sell is NOT to Sell and works with Fortune 1000 companies and entrepreneurs. For more information or free sales tips go to schulzbusiness.com and sign up for GretaNomics a weekly video tip series or email sales questions to greta schulzbusiness.com. 78 SEPTEMBER 2017 www.sfbwmag.com Provi onships Relati Building CRA is here to help manage your risk. CRA provides individuals businesses municipalities and professional service providers with the highest level of insurance and risk management services. We specifically tailor our innovative and value-driven services to satisfy your needs. We pride ourselves on being trusted professionals who help clients find the best way to manage risk. Complex Personal Insurance Luxury Collections Business Insurance Risk Management Consulting For more information please call us at 561.409.2428 info centuryra.com centuryriskadvisors.com Offices in Boca Raton and Coral Gables Representing All Major Underwriters www.sfbwmag.com SEPTEMBER 2017 79 PEOPLE PASSION AND PROFITS When Shift Happens Strategies for Leading Change BY STEPHEN GARBER The one constant in life is change. And change is accelerating all around us. When is the last time you looked at the Yellow Pages We make free video calls around the world and many of us remember being rushed off the telephone with Hurry it s long distance And that was for a call to New York from Boston. What are Enron Polaroid Pan Am Texaco Blockbuster and Sharper Image doing these days What s a pay phone From websites that remind us shift happens we learn China has the most English speakers in the world. The top 25 percent of the smartest students in India outnumber all the students in the United States. Sixty-five percent of our current grade-schoolers will have jobs that do not currently exist. Half of all American workers have been in their jobs less than five years. Ninety percent of the world s data has been generated in less than the last two years. At work we have mergers acquisitions downsizing rightsizing reorganizations strategic changes and redesigns of the total operating model. These happen all the time. How is a person to cope When shift happens ... 1. Do your job brilliantly. You still have a job to do. It s what matters most always. Don t allow yourself to be distracted by fear or gossip. 2. Think we not me. Be supportive and helpful. A thriving organization is the best way to have job security. Selfish thinking and behavior lead to inefficiencies and contraction not expansion. We earn a living by what we get. We make a life by what we give. 3. Seek to understand. Change has many layers. Don t think you know what it means. No one likely does in the immediate term. Work with your teams and line leaders to determine with whom we can best connect who might have insight or suggestions. Ask our line leaders what they think. 4. Ask how you can help... Your line leader. Those coming in. Those we see struggling. 5. Believe in yourself. Self-confidence brings you confidence from others. Accept that you cannot control what you cannot control. Self-confidence models the attitude that the right things are being done if not always apparent. 6. Know that what we see is temporary. Many iterations will come. No one can imagine all the unintended consequences or the complexity. See 1-5 above. Stephen Garber is director of Third Level Ltd. 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CFO & Strategic Services ple OCTOBER 2015 SFBWMAG.COM 7.95 OCTOB ER 2016 SFBWM AG.COM 7.95 DECEM BER 2016 SFBWM AG.CO M 7.95 gly Mika Mattin future Miami s Selling Jim Dunn How JM Lexus stays on top Yacht brok erage thrus ts ahea d Bob Denison Never Miss An Issue www.sfbwmag.com mailsubscription South Florida Business & Wealth (SFBW) Magazine is updating our circulation list register at www.sfbwmag.com SEPTEMBER 2017 81 HISTORY VIEWPOINT 1976-195-1779 Regal Beer advertisement circa 1960 The Beer That Was Here BY CHRISTINE ALEXIS Miami s thirst for craft beer is being quenched rapidly. Not only Miami but the state of Florida had a net increase of more than 35 breweries in 2016 according to the Brewers Association. The beer industry has changed a lot in Miami over the last five years and I believe it will continue to evolve says Eddie Leon co-owner and CEO of MIA Beer Co. There are a lot of new breweries in Miami and we all hope to leave a rich legacy for future brewers. While some think the craft beer industry is the new kid on the block in South Florida this is not the case. Shortly after Prohibition ended Wagner Brewing Co. opened in the mid-1930s and was referred to as The Pride of Florida. However at the time it was hard to market local beer and eventually Wagner was bought by American Brewing Co. of New Orleans in 1939. It then became American Brewing Co. of Miami and began brewing Regal Beer. Regal Beer quickly turned into a fan favorite. Because of World War II sugar and grain were scarce and transportation for national products was greatly reduced. These limitations put Regal Beer on the forefront as local products were emphasized. Regal Beer successfully positioned itself in the market as an affordable option. However in 1958 American Brewing sold the Miami plant to Anheuser-Busch which planned to stop producing Regal Beer in favor of its flagship Budweiser. But the federal government stepped in because Anheuser-Busch would have a monopoly on beer production and distribution. As a result Anheuser-Busch sold the plant to National Brewing Co. which continued to produce Regal Beer and also created Colt 45 malt liquor. Miamians began to refer to the plant as Regal Brewery although that was not the only beer produced. The plant remained open until 1974 when National Brewing moved production to Baltimore. While Regal Beer is no longer produced in Miami locals still have fond memories of it. I do recall as a child seeing cans of Regal Beer but it wasn t until the early 90s when I experienced my first brewery South Pointe Brewery. Shortly after I began homebrewing Leon says. Still Regal Brewery played a significant role in South Florida and helped create a path for the growing craft beer industry. Information for this feature is courtesy of the HistoryMiami Archives & Research Center which is open to the public and contains more than 1.5 million images of southeast Florida the entire state and the Caribbean from 1883 to the present. For information or to visit HistoryMiami visit historymiami.org. 82 SEPTEMBER 2017 www.sfbwmag.com www.sfbwmag.com SEPTEMBER 2017 83 THE BEST SEAT IN THE HOUSE. edmorse.com 84 SEPTEMBER 2017 www.sfbwmag.com CADILLAC PREMIUM AUDIO SYSTEM