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NOVEMBER 2015 SFBWMAG.COM 7.95 Yamal Yidios Passion and Vision at Ytech International Where can we help you next Over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation tenant representation property management and construction management services. We bring you real estate solutions around the block or around the world. Fountain Square Boca Raton FL A 241 000 square-foot Class-A office property consisting of three buildings surrounding a cafe courtyard and a grand fountain. Minutes to I-95. Jupiter Med & Tech Park Jupiter FL This 186 000 square-foot med tech facility is located on a beautiful 16-acre corporate campus setting in the heart of the Jupiter Medical Center. City Centre Palm Beach Gardens FL A 93 700 square-foot office mixeduse plaza in Palm Beach Gardens offering retail and office tenants excellent choices at great rates. Golden Bear Plaza Palm Beach Gardens FL A 243 000 SF Class-A office complex with beautiful Intracoastal and ocean views with lush landscaping. Located just north of PGA Boulevard on US 1. Centrepark Office Buildings West Palm Beach FL A 479 000 square-foot collection of Class-A office buildings with access to everything... I-95 PBIA downtown and more. If you need it we ve got it Northpoint Corp Center West Palm Beach FL This Class-A office building offers lake views with easy access to I-95 and local amenities. Building signage with I-95 visibility is now available West Palm Beach 561 471 8000 Boca Raton 561 394 5200 NOVEMBER 2015 3 TABLE OF CONTENTS 10 SPACES Brickell Heights may be the sportiest building on the block 48 HOSPITALITY 54 CHARITIES Meet three chefs who have a taste for business success 20 PROFILE Meet the millennials selling luxury real estate to millennials Katz Barron law presents All-Star Awards for Switchboard Miami 14 The successful millennial Yamal Yidios COVER STORY 24 ENTREPRENEURSHIP 26 PROFILE Bill Feinberg leads Habitat for Humanity in Broward county A trio of entrepreneurial lawyers go into business for themselves 56 LEADERSHIP Easter Seals event to feature The Fred Factor author Mark Sanborn 88 SALES STRATEGIES 90 BEHIND THE MIC AND PROFITS 59 APOGEE AWARDS 82 COMMERCIAL REAL ESTATE Why hiring millennials in sales is a good move for your business SFBW s awards present 24 of the region s top C-suite leaders 28 SFBW AGENDA 30 HOT SPOT Miami s first mixed housing project brings affordability to Brickell Panelists at SFBW event tell what to expect next in real estate The market is hitting levels not seen since before the recession 92 PEOPLE PASSION Your secret sauce has one massively important ingredient trust Flagler Village is the type of place millennials like to live work and play 84 DIRECTOR S VIEWPOINT 86 TECH HUB 34 CEO CONNECT 40 FEATURE Betsy Atkins explains why boards need to pay attention to cybersecurity 94 THE FAMILY OFFICE 96 COMPETITIVE EDGE The Everglades More than an attraction Andy Cagnetta has a successful business and a rock n roll heart How millennials are different in their outlooks toward wealth Chris Fleck discusses how millennials are impacting technology Millennials embrace mindfulness and meditation for self-awareness Entrepreneur overcomes obstacles to succeed with fitness supplements 98 HISTORY VIEWPOINT 4 NOVEMBER 2015 No time for technology problems One simple solution. Our primary focus is utilizing technology to increase overall productivity and decrease capital expenditure. Quantified IT s success originates from listening to our clients analyzing their needs and producing long term solutions. These success principles combined with immediate response have afforded Quantified IT a 99 percent client retention rate. CIO Consulting. Private Cloud. Managed Services. Vendor Management. 1-800-365-0953 LETTER FROM THE EDITOR The Millennial Issue Powering your bottom line right solution. right service. At Any time. 1-800-385-3187 Editor-in-Chief Kevin Gale Welcome to the first themed issue of SFBW which focuses on the millennial generation. What is a millennial The age bracket is somewhat loosely defined. One definition is they came to work in the new millennium which means they were likely born after 1980. Millennials are already the largest group in the workforce according to Pew Research and are expected to be more than half the workforce by 2020. Moreover they are a demographic segment that is highly coveted by marketers. If your business doesn t embrace millennials it will be difficult to succeed in the future. This issue has features on successful millennials starting with Yamal Yidios who is on our cover. Yidios has been focused and driven to succeed since an early age. Like many millennials he has a sense of purpose about his work and has a mission that transcends just making money. We also have insight from a duo of millennial real estate agents and a trio of lawyers who branched out on their own. Many of our columnists also have weighed in about millennials ranging from why they should be a part of your workforce to intergenerational wealth dynamics. Understanding millennials seems to be a challenge for many of my baby boomer peers. Author Nigel Dessau who wrote Become a 21st Century Executive says boomers should know that millennials don t focus on the lower level of Maslow s hierarchy of needs largely because their boomer parents have fulfilled them. The main concerns of these millennials are love belonging esteem and self-actualization. They are driven by passion and purpose Dessau says. Here are his top five tips to boomers about millennials 1. Don t confuse what motivates you with what will motivate them. Millennials are more driven by purpose so find out what drives them. 2. Don t assume that if you can t see them they are not working. Millennials use technology to do work and often have different hours than you. Send them clear objectives and judge them based on results. 3. Allow for their me time. Seven out of 10 millennials want to make sure they have personal time while at work. Just because they re on Facebook doesn t mean they re not working. If they re getting the job done that s all that matters. 4. Make them a part of your world. They want to understand why before they will commit to doing. Take the time to mentor and explain. If possible connect your strategy and approach to their purpose. Remember every interaction is a teaching moment take it. 5. Provide feedback when they need it not when you want to give it. Millennials are used to continuous feedback which could mean daily. When talking commend what they do well and what you want to see more of. When they miss the mark explain what they could have done better. I hope you enjoy this special issue. Please feel free to email your thoughts to kgale or call 954.377.9566. Kevin Gale 6 NOVEMBER 2015 A Global Force in the Information Technology Arena We are a global company with 100 Years of combined experience placing IT professionals ALL while experiencing 28 quarters of consecutive growth. Our services of staff augmentation contract to hire direct hire and retained search will help you attain your business goals. Ask us about our Resource Concierge Program 6001 Broken Sound Pky. Suite 506 Boca Raton FL 33487 561-912-9363 main office info Meet Some of Our clients Blue Cross Blue Shield WebMD Guardian Citigroup TD Ameritrade Morgan Stanley Avon Weight Watchers Gary Press gpress EDITOR-IN-CHIEF AND SENIOR VICE PRESIDENT OF STRATEGY Kevin Gale kgale ASSOCIATE EDITOR Richard Shellene rshellene CONTRIBUTING EDITOR Leslie Kraft Burke COPY EDITOR Sherri Balefsky CHAIRMAN AND PUBLISHER Creative CREATIVE DIRECTOR ART DIRECTORS Melanie Smit Alexander Hernandez Frank Papandrea Alisha Riddle Writers CONTRIBUTING WRITERS Betsy Atkins Beverly Barna Erik Bojnansky Angela Caraway-Carlton Chris Fleck Jim Fried Steve Garber Linda Janasz Darcie Lunsford Joseph A. Mann Jr. Julie Neitzel Becky Randel Greta Schultz Elyssa Schwartz Photographers Downtown Photo Fort Lauderdale History Miami Archives Larry Wood Managing Director CLAYTON IDLE cidle Vice President of Business Development JILL HOROWITZ jhorowitz credmond gscott Market Directors JAMES CONSTANTINE IAN PRICE jconstantine iprice LORI CASTLE CHRISTINE REDMOND GAIL SCOTT lcastle DIRECTOR OF OPERATIONS & EVENTS MARKETING MANAGER Danielle Tarrant dtarrant Adina Arhire aarhire Editorial Advisory Board Marc Brotman Brotman Nusbaum Ibrahim Founder and Partner Bob Birdsong OK Generators President Rick Case Rick Case Automotive Group Owner Monroe Gang Atlantic Partners CEO Gerald Greenspoon Greenspoon Marder Co-managing Director Michael Kaufman Kaufman Lynn Construction Founder President and CEO Michael Keeby Brown & Brown of Florida Executive Vice President Jeremy Larkin NAI Miami President Alan Levan BBX Capital Chairman and CEO Gerry Litrento Bank United Senior Executive Vice President Steven Mariano SunCoast Holdings Chairman and CEO Neil Merin Merin Hunter Codman Chairman Ed Pozzuoli Tripp Scott President Chris Roberts Lexus of Kendall President Ron Shuffield EWM President Terry Stiles Stiles Corp. Chairman and CEO Thomas te Riele TD Bank South Florida Market President Mark Trowbridge Coral Gables Chamber of Commerce President and CEO Yamal Yidios Ytech International Jordan Zimmerman Zimmerman Partners Advertising Chairman and CEO SFBW Magazine 3511 W. COMMERCIAL BLVD. SUITE 200 FORT LAUDERDALE FLORIDA 33309 954.377.9470 FAX 954.617.9418 WWW.SFBWMAG.COM 2015 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. You earned it we protect it For more than 75 years Brown & Brown has met the needs of the mass a uent community. Signi cant personal assets and wealth require a higher level of attention o en with unique coverage requirements not available on standard insurance policies. Our personal approach helps to identify client s long-term goals and create a customized risk management program which adjusts along with the client s nancial pro le. e Marine Division of Brown & Brown has been serving a broad base of elite yacht clients since 1931. Our team is highly experienced and dedicated to providing a superior level of service to each and every client. Our goal is to earn your trust and we are con dent you will nd Brown & Brown Marine is the right choice for your yacht insurance needs. Contact us today and put your mind at ease knowing that your priority is also ours. Fort Lauderdale s Private Client Group Fort Lauderdale Division - 1201 West Cypress Creek Road Suite 130 Ft. Lauderdale FL 33309 Home Auto Ph. 1-800-330-3241 Fx. (954) 771-9192 privateclientgroup bb Marine Yacht Ph. (954) 331-1405 Fx. (954) 776-4446 raizprua bb Auto Aircra Bonds Condominium Collectables Commercial Flood Health Bene ts Homeowners Liability Marinas Umbrella Workers Comp Yachts NOVEMBER 2015 9 SPACES BRICKELL HEIGHTS MAY BE THE SPORTIEST BUILDING ON THE BLOCK BY LESLIE KRAFT BURKE Fit for Life You may have wondered about the two-tower project now going vertical at 850 South Miami Avenue in Miami s Brickell neighborhood. When completed (slated for fall 2016) Brickell Heights will arguably be the fittest building on the block. Designed by Arquitectonica the two towers of 47 and 49 floors respectively will comprise 690 residences a 50 000-square-foot Equinox fitness club and a 3 500-square-foot SoulCycle indoor cycling studio. In all Brickell Heights will have 106 697 square feet of commercial space. The 1.38-acre site has widespread appeal to millennials not only for its amenities (including five rooftop pools a tanning deck multiple club rooms a media center and a business center) and live work play location but for being relatively affordable with starting prices in the mid 400 000s. (Some units go for more than 1 million.) The towers offer one- and two-bedroom units. The design of Brickell Heights is sleek and modern. Colorful murals by Argentinean artist Fabi n Burgos will surround the parking podium and be visible within the entire central Brickell area. The architectural design of Brickell Heights is a celebration of Miami s unique contemporary tropical style says Bernardo Fort-Brescia of Arquitectonica. Its light-filled residences with dramatic glass terraces speak to the irresistible allure of the city and the people who live here. The project will also feature community herb gardens by Dylan Terry and interior designs by David Rockwell the designer of the sets for the 2009 and 2010 Academy Awards. Rockwell hopes to infuse Brickell Heights with a new twist on the glamour art and culture of midcentury design. It will be a unique fusion of fantasy and dream Rockwell says a cinematic take on the kind of urban glamour that is only possible in Miami. Brickell Heights creation is an integral part of Miami s relatively new prominence as one of the world s most desirable places to live says Jorge P rez chairman and CEO of The Related Group which broke ground on the development in July 2014. The transformation of cities and neighborhoods on a global scale takes more than a vision P rez says. It takes innovation creativity and proven expertise to deliver on the promise. We envision Brickell as Miami s most dynamic neighborhood yet and with the design of Brickell Heights we have captured that spirit and taken it to new levels of excellence. The business center at Brickell Heights top the twin-tower project s South Miami Avenue location left will be near Brickell City Centre a corner unit above has an open floor plan. AUTONATION AD NOVEMBER 2015 13 COVER STORY COVER STORY Yamal Yidios fulfills his childhood ambition by building a major real estate company in Miami BY KEVIN GALE The Relentless Millennial COVER STORY Looking for a high achiever in the millennial generation Meet Yamal Yidios. Since founding Ytech International 10 years ago he has invested in developed and redeveloped over 7 000 housing units in the southeastern United States an effort involving 1 billion in capital. Over time Ytech has evolved into a fully integrated real estate and investment company with 150 staff members and a 300 million portfolio of assets. Ytech s roots and headquarters are in Miami but it owns a diverse real estate portfolio of over 3 000 apartments including 1 800 in South Florida and 1 300 in Houston. The company also has an ownership interest with a joint venture partner in 2.24 acres at 201 SE Second Avenue in downtown Miami with entitlements for 2.15 million square feet of mixed-used development with up to 1 120 residential units. The land was purchased for 21 million from Florida Power & Light in January. Ytech describes its approach as disciplined and valueoriented with a focus on risk and cash flow rather than real estate appreciation. Yidios was the top Miami-Dade real estate honoree in SFBW s 2015 Up & Comers. He was interviewed by SFBW Editor-in-Chief Kevin Gale at the company s penthouse headquarters in downtown Miami. The following transcript has been edited for brevity and clarity. Tell us about your background. I was born and raised in Cartagena Colombia where I attended an American English-speaking school. I attended the first two years of my undergraduate studies under a full academic scholarship at Stetson University in Florida where I also had the opportunity to play NCAA tennis. I later transferred to the University of Florida where I graduated with honors with a bachelor s degree in civil engineering and continued on to get my master s degree in engineering and real estate development. What attracted you to the field of engineering My father instilled a strong work ethic in me from an early age (he was also a real estate developer) and made it a point to take me to his construction projects every afternoon after school and on weekends. So I was exposed to this industry from early on and developed a passion for real estate development. I had a big advantage in that I knew what I wanted to do from early on in life I was able to relentlessly invest all my time and energy into the vision that I had for myself and for my company. What did you do to receive the UF Engineer Scholar of the Year recognition I believe my advantage proved to be the fact that by the time I graduated I already had four years of experience working on large-scale development projects with multinational engineering firms such as KimleyHorn and Associates. I struggled to balance a full-time work schedule with a full-time class schedule. It was a 24 7 commitment as most days involved having to get up at 5 a.m. to make the long drive to the engineering firm followed by a full day of classes. I averaged three hours of sleep for four years. Why did you decide to start your career in Miami Miami was a no-brainer given that the city is so vibrant and culturally diverse. It is also experiencing tremendous growth in the real estate sector. I have always been attracted to Miami s entrepreneurial spirit and its tropical landscape which is why I knew it was the perfect fit for me. How did you manage to do your first deal a fourunit apartment complex in Miami Beach All of my college savings went into the purchase of 16 NOVEMBER 2015 this project. From the day that I closed on this building until the day the last condo unit sold I did not take a single day off. I poured my heart and soul into making sure that this project would be a success. What have been the keys to success for growing Ytech The key to our success involves focusing on value and executing with skill and urgency. We have a long-term risk-conscious approach to investment and we are disciplined in everything we do but above all we promote teamwork loyalty and morale. We definitely have a long-term institutional approach. We are certainly trying to take advantage of the cash flows of the properties improve them over time and to be able to extract intrinsic value and control the value-creation process through redevelopment stabilization and repositioning. We have sold some smaller-scale projects. After 2012 we decided to focus on the institutional-grade properties 100 to 500 units per project and also portfolios. I believe we are at the midpoint of the economic cycle. We are focused on protecting our downside by investing in income-producing properties in geographically privileged areas where there is a very strong rental demand driven by economic and demographic fundamentals. For example we just acquired a large assemblage of rental apartments in Miami Beach. It is exceptionally rare to be able to acquire 180 apartments and almost 5 acres of land four blocks from the ocean and with over 1 000 linear feet frontage on the Tatum Waterway especially in such a fragmented submarket like Miami Beach. In near term we would like to redevelop the 22 buildings in order to be able to increase rents and maximize NOI (net operating income) which translates into a higher value for the property while we explore the possibilities of ground-up development in that area. NOVEMBER 2015 17 Two notable Ytech International properties Grand Beach Apartments Location 7745-7790 Tatum Waterway Drive and 700 & 715 78th Street Miami Beach four blocks from the Atlantic Ocean and North Shore Open Space Park. Description 180 garden-style apartments in 22 buildings with 170 384 square feet of net rentable space on 4 acres along the saltwater Tatum Waterway. Why Ytech Invested The submarket has a high demand for quality multifamily housing and the surrounding area has a strong job market. The neighborhood is unique in that its pristine parks and beaches cater to families while its vibrant atmosphere and distinct architecture also attract young professionals says CEO Yamal Yidios. The rental market in Miami Beach is very fragmented with most properties being significantly smaller. Thus this portfolio is truly a rare find given its size and proximity to the ocean. What sort of philosophies do you have to attract and retain talent We have succeeded as a team because we are disciplined work well together execute consistently have a passion to succeed and most importantly share a common goal and vision. How did you come to know John Breistol the president of the company and Carlos Serrano vice president and construction officer John Breistol is a well-known industry leader with over 25 years of experience in construction and development. I have always been impressed by his successful track record of leading organizations and delivering profitable and quality projects such as 600 Brickell at Brickell World Plaza Fontainebleau II Hotel and Condominium in Miami Beach and Sunrise Harbor in Fort Lauderdale. I met Carlos Serrano over 10 years ago and have always admired his strong work ethic and high level of technical expertise. I immediately seized on the opportunity to have him join our team. Are there challenges being a younger person and having people with so many years of experience working with you I believe that the only way to compensate for being a young leader is to have strength of character as well as integrity with regards to the company s vision. Does being a millennial give you a competitive advantage in some aspects of this business Technology plays a key part in how we run our business. Through financial modeling and in-depth market analysis we are able to grow our business organically by making value-oriented risk-conscious investments. As a result technology enables us to become more sophisticated investors. How does it feel to be so successful at such an early age I would not be where I am today without the hard work and dedication of my staff. I am so grateful to have such talented individuals on my team and it truly has been a team effort. It has been an exceptional 10 years for me personally and it s been an honor to work with all of Ytech s team members. The company is well-positioned for growth and we will continue to build upon a rapidly growing and fully integrated real estate investment and development platform. Who has been important as mentors or people of inspiration I enjoy reading historical biographies especially those of entrepreneurs such as John D. Rockefeller or Andrew Carnegie people who started from scratch and went on to build great companies. I have always been an admirer of an individual s resolve and resilience in the face of challenges and in the pursuit of opportunities. Tell us about your activities in professional and civic organizations. I consider myself to be an active member of our community and am involved in a variety of professional and charitable organizations. I am a member of the Urban Land Institute (ULI) the Greater Miami and Miami Beach chambers of commerce the Latin Builders Association the University of Florida Alumni Association and the American Society of Civil Engineers to name a few. Tell us about your charitable activities. I have implemented several charitable initiatives at Ytech among them is a program I initiated in 2013 whereby three underserved deserving families at each of our South Florida and Houston multifamily properties are given free rent for a period of one year. In addition my passion for the arts led me to become a board member for the Coral Gables Museum. As a director I promote the civic arts of architecture and urban and environmental design which involves fostering an appreciation for the history and cultural landscape of Coral Gables. Crystal Lake Apartments Address 2601 NW 207 Street Miami Gardens (between Sun Life Stadium and Calder Casino) Description 491 units in 24 buildings on 23 acres with lake frontage and 389 445 square feet of net rentable area Why Ytech Invested Location near the county line that s close to major employment centers. The submarket also has strong economic fundamentals and a historical occupancy of over 97 percent. However at the time of purchase for 14.35 million in November 2012 over 480 of Crystal Lake s units were unlivable. The company spent more than 20 million on renovations and redevelopment. In October 2014 Ytech was able to refinance the property with a commercial mortgaged backed security (CMBS) loan after stabilizing occupancy. 18 NOVEMBER 2015 explosive creativity for your business. 561 . 59.GREEN Branding Graphic Design NOVEMBER SEO Website & Web App Development 2015 19 PROFILE RAISED ON REAL ESTATE Jill Hertzberg s children provide insight on selling to millennials BY ERIK BOJNANSKY PHOTOS BY LARRY WOOD Danny and Hillary Hertzberg speak millennial because well they are millennials. And they re using their knowledge of real estate social media and technology to sell high-end residential real estate to young wealthy adults who are migrating to South Florida from all over the world. We have a lot of young buyers from South America and Central America explains Hillary 28 adding that they also see buyers from California New York and New Jersey. The wealthy millennials the Hertzbergs work with aren t just heirs to fortunes. They re also business owners inventors techies bankers and hedge fund managers. They love the lifestyle the energy and the fact that South Florida is an international scene adds Danny 33. Minimal taxes are another draw to the region. The fact that we don t have a high state income tax is huge for the market Danny says. So huge that many affluent buyers young and old become part-time Florida residents in an effort to avoid that extra bill. But millennials are a finicky bunch the siblings say. They aren t merely content with fantastic homes like baby boomers. Nor are they obsessed with location like buyers from Generation X. Millennials the Hertzbergs say want the whole package. And it s not a package they search for in Millennials selling to millennials Danny and Hillary Hertzberg 20 NOVEMBER 2015 PROFILE After every transaction we ask our clients what charity they want to give to. Danny Hertzberg We have a lot of young buyers from South America and Central America. Hillary Hertzberg newspaper ads or commercials. They find it through technology and social media. The Hertzbergs understand the millennial perspective thoroughly. We really know how to get through to them in the most efficient way Danny says. We speak the same language. It helps that they are also fluent in real estate. Their mother is Jill Hertzberg who in the early 1990s teamed up with fellow real estate broker Jill Eber to sell homes to the affluent in Miami Beach. Proclaiming themselves The Jills Hertzberg and Eber amassed a reputation for selling mansions and penthouses to powerful executives and movie stars. Within the last two years alone The Jills along with their team of 20 Coldwell Banker brokers have closed more than 1 billion in sales. Both Danny and Hillary happen to be a part of that billion-dollar selling machine. A graduate of Tulane University Danny has a law degree and an MBA from the University of Miami. He previously worked for homebuilding giant Lennar before coming to work full time for The Jills in 2009. Among the first things he did was to bring The Jills into the 21st century. They weren t doing anything in social media he remembers. I stared working on that aspect. Hillary arrived at the office a couple of years later. Armed with a psychology degree from Washington University in St. Louis Hillary worked in sales at fashion house Theory and in digital marketing at MediaVest before becoming an associate for The Jills four years ago. Together the siblings formed their own team Second Generation Selling and set about tapping into the growing luxury millennial market. Last year Second Generation Selling s sales volume was 83.4 million. Selling to the next generation means showcasing properties with detailed video presentations via Instagram Facebook WhatsApp and other social media applications the Hertzbergs say. And the homes Forget about historic mansions built at the turn of the last century. Rich millennials want brand-new sleek modern LEED-certified homes with open floor plans Hillary says. Unlike previous generations of homebuyers millennials have no delusions about staying in a purchased home for 10 or 20 years Danny adds. They re very comfortable with moving again he says. At the same time millennials are as interested in the perks of the neighborhood as they are in what the home they buy has to offer. We re more focused on advertising lifestyle Danny says. And after all the social media and texting once the deal is ready to be closed it isn t a paper contract that s presented. Instead millennials prefer to consummate their real estate transactions using a digital platform called Dotloop where fingerprints are used instead of signatures. It s better than ink Hillary says. The Hertzbergs aren t content just to sell homes to jet-setting millennials. Two years ago they started the Second Generation Giving Foundation. After every transaction we ask our clients what charity they want to give to says Danny. So far they have donated over 15 000 to more than a dozen nonprofits including the Humane Society of Greater Miami Habitat for Humanity the University of Miami Miller School of Medicine and Legal Services of Greater Miami. The donation is made in the client s name but it comes out of the Hertzbergs commission. It s paying it forward Danny says. 22 NOVEMBER 2015 ENTREPRENEURSHIP Tomer L. Alcalay David O. Norsoph and Eric S. Orner fulfilled an entrepreneurial dream by opening Norsoph Alcalay & Orner LLP (NAO Law) in May VENTURING FORTH Three friends give insight in what it s like to launch a business and how to prepare The concept for SFBW s millennial issue grew out of a discussion with David O. Norsoph Tomer L. Alcalay and Eric S. Orner who launched Norsoph Alcalay & Orner LLP (NAO Law) in May of last year. The firm offers services in the areas of real estate business law family law personal injury Internet defamation and wills trusts and estates. The firm also provides real estate title insurance and closing services. The three founders determination to be entrepreneurs mirrors the attitudes of many millennials in that they want to have work life balance perform meaningful work embrace the digital era and give back to the community. SFBW invited them to share their experiences in their own words and give insight into why they decided to launch the firm their strategy and what obstacles they had to overcome. 24 NOVEMBER 2015 Alcalay American Dream Realized I was born into a family of Israeli immigrant entrepreneurs. From a young age I was exposed to the business world and serial entrepreneurism as my father and uncles opened acquired managed and sold several companies. Having started with very limited resources it took hard work and perseverance for my family to pursue the American dream. After completing law school at the George Washington University Law School in Washington D.C. during the Great Recession I was lucky to start my career as a corporate associate in the New York City office of Ropes & Gray LLP a major international law firm. I later moved closer to my family and spent two years as a real estate associate in the Miami office of Akerman LLP one of the largest firms in Florida. Six months before leaving I started discussing the idea of starting my own firm with my friends Eric and David. It was a daunting thought to leave the comfort of a stable well-paying salary but the time was now before getting married and having kids which would make the stakes of taking big risks unacceptable. When I gave notice though apprehension turned into excitement. My two partners and I faced many difficult decisions while starting this new venture. We spent countless hours choosing the size location and acceptable cost of our office. Ultimately we decided on a larger space near the Broward County Courthouse to be centrally located and have room for growth. Building a law firm required us to wear many more hats than just being attorneys. Each of us has had to work on marketing business development networking accounting IT billing and collections. We have focused our efforts on improving our skills in the areas we know best and enjoy the most and on building a strong network of trusted colleagues to which we can refer our clients for matters in other areas of law. Orner A Family Tradition My grandfather was a very successful entrepreneur and role model. He always told me to be your own boss and create your own opportunities. My father started his own law practice upon graduating from law school quickly building a successful firm. These two major influences instilled in me as a child led me to become a lawyer and entrepreneur. After graduating law school I went to work at my father s firm where he began mentoring and training me to become his successor. However I became frustrated when I met staunch resistance when I attempted to implement digital-era ideas and processes. After leaving my father s firm I worked for one of Florida s largest plaintiff s foreclosure law firms always thinking back to my grandfather s advice. Having diverse experiences (my partners and I each practiced in different areas of law) was a strong advantage that enabled us to bring in and service a variety of clients. We knew we had the recipe for the perfect team. Plus what s better than working with your best friends We spoke daily planning and strategizing how we were going to build our firm. We stuck to a strict schedule of meetings to construct our ideal business plan. By the time we opened up our doors we were able to hit the ground running as we already invested significant effort in our preparation stages. Norsoph Father s Experience Was Influential I have always been oriented to being a businessman and entrepreneur. I watched my father practice as a radiologist before venturing on his own and creating multiple businesses. I saw how being his own boss allowed him increased flexibility in his life and more time to spend with his family. After graduating with a law degree and an MBA I sought experience at a large law firm and accepted an offer from Akerman LLP in Fort Lauderdale. After four years I spoke with Eric and Tomer about opening our own law firm. We purchased the book How to Start and Build a Law Practice by Jay Foonberg. For months we would discuss chapters of the book and plan how we wanted to conduct our business. We were not able to take any clients with us from our prior law firms so we had to rely on friends and family to help us get off the ground. We learned that no matter how much planning you put into opening and operating a business there are certain variables you cannot fully account for including operating and marketing costs. Fortunately advancements in technology and social media have made it easier for us to market our business and reach potential clients. We operate our business as we see fit focusing on the areas of law we love and serving the clients we want to help. We were also able to open a real estate title insurance business. While not knowing your salary each month would intimidate many people it is what motivates us to put our all into our business. We enjoy having the flexibility to attend more networking and charity events than we could before. It is important for us to not only perform billable work but to have an impact on our community and give back. There are advantages and disadvantages to owning your own business but we as millennials desire certain things in life and becoming your own boss allows you to enjoy many of them. NOVEMBER 2015 Key Takeaways can be highly motivating Get experience in the field before venturing on your own Research information on how to start a business in your field Develop a detailed business plan and strategy Secure the financial resources to take a cut in pay while you launch the business Be prepared to do a variety of tasks such as marketing and business development Realize that unanticipated expenses will pop up Good entrepreneurial role models 25 PROFILE PROFILE Community Ally Bill Feinberg combines what s good for business with building brotherhood BY BEVERLY BARNA It s fitting that Bill Feinberg the new chairman of Habitat for Humanity of Broward was back in Philadelphia when SFBW called. Feinberg has long channeled the spirit of brotherly love by giving back to the community as leader of Allied Kitchen & Bath in Fort Lauderdale. Feinberg grew up in Philadelphia and moved to South Florida in 1975 he was soon joined by his brother and longtime business partner Joe and their two other brothers. All four brothers once worked for the same home remodeling business and it wasn t long before Feinberg saw the opportunity to start a business of his own. He and Joe who worked together in Philadelphia in everything from window washing to painting launched Allied Kitchen & Bath in 1984. It was time to move on Feinberg says about those early years. I formed Allied and my brothers came with me and we ve been growing ever since slow and steady. He adds that he s very cautious taking a slow-pace approach in order to deliver the best service possible revenue is expected to rise about 15 percent this year to about 10 million. Feinberg also built his 15 000-square-foot showroom at 616 W. Oakland Park Boulevard from the ground up in 2008. After emerging anew from the shadow of the recession Allied is now in the process of building a new showroom dedicated to everything for the outside including gourmet kitchens. Feinberg projects the job which will produce a block-long designer showroom in the heart of the evolving Oakland Park Culinary Arts District will be completed by the end of the year. The spirit of brotherly love and a commitment to quality and concierge-style customer service are also central to Feinberg s mission to make Broward County a better place. For more than 15 years he s been helping Habitat for Humanity donating salvageable kitchen and bath fixtures and appliances from homes under renovation to be sold at Habitat s ReStore. Sales from ReStore go toward building homes for low-income families that can t qualify for conventional financing but are willing to work hard to improve their families lives. For us it was a win-win situation Feinberg says. It s a great way to recycle what we had that was good. After the first couple of years we had enough to build a house. Now Allied sometimes sends a truckload of supplies in one week. Feinberg who has been on the board of Habitat five years says Becoming board chair is truly an honor for me. As a company and individually I have made a commitment to pay it forward and give back as much as possible to our community. Along with his family and staff Feinberg has hosted more than 100 charitable events in recent years. Beyond his contributions to fulfilling home improvement dreams for his clients and homeownership dreams for those served by Habitat for Humanity what s left for him to repair and rebuild We ve got to teach others how to be great partners for our community as well Feinberg says. I think we all need to do more when it comes to local charitable organizations and we need more successful companies to get involved and give back to our community. 26 NOVEMBER 2015 SFBW AGENDA Neil Carson of Kaufman Lynn Steve Patterson of Related Development LLC and Mike Kaufman of Kaufman Lynn Real estate on a roll Panelists tell what to expect as the boom continues If you are looking for the next emerging neighborhood in Miami check out the areas of Lemon City (Little Haiti) and Little River says Peter Zalewski of Emerging neighborhoods were one of the topics discussed at the Oct. 1 Real Estate Developer Power Lunch which was held at Morton s The Steakhouse in Boca Raton. The panel discussion was presented by SFBW and Green Integrated Marketing Services a 29-year-old division of WPP Worldwide that is based in Boca Raton and provides advertising branding digital and marketing services. Joining Zalewski on the panel were Steve Patterson president and CEO of Related Development LLC who is responsible for multifamily rental development and Arnaud Karsenti the managing principal of 13th Floor Investments which invests in value-added and opportunistic residential and commercial real estate transactions. Zalewski who is a real estate broker the owner of and a columnist for The Real Deal says rising property and leasing costs in the Wynwood area fuel interest in Lemon City and Little River an area west of Biscayne Boulevard from roughly 54th Street to just north of 79th Street. Cheap places for studios and galleries allowed artists to set up shop in Wynwood but with rising prices Zalewski says The artist who brought the lifeblood to this area are getting kicked out. The area near 79th Street could also be hot with a stop for the new Tri-Rail Coastal Link which would run along the Florida East Coast Railway tracks. Some investors are already anticipating an upturn in the area. A Chinese group with Canadian investors is redeveloping the former Immigration and Naturalization Service Building at 79th and Biscayne into a hotel Zalewski says. Patterson questioned some of the prices being paid for land in Wynwood saying they only make sense if you get national brands which would be out of character for the neighborhood or you can build a 25-story building which isn t the city s current vision. Patterson is instead focusing on smaller tertiary submarkets in South Florida. Doing so can be a bit scary because it s easier to overbuild because of their size he says. Patterson s Related division Steve Gravett of Kennedy Homes Richard Zipes of Omni Steve Gravett of Kennedy Homes Richard Zipes of Omni Real Estate Development and Gene Berns of Kennedy Real Estate Development and Gene Berns of Kennedy Homes Homes Panelists and sponsors Peter Zalewski Kevin Gale Panelists and sponsors Peter Zalewski Kevin Gale Arnaud Karsenti Phyllis Green and Steve Patterson Arnaud Karsenti Phyllis Green and Steve Patterson 28 NOVEMBER 2015 Stefanie Mogull and Arnaud Karsenti of 13th Floor Investments recently sold The Manor at Flagler Village on the edge of downtown Fort Lauderdale for 149 million which he termed a major success. Related and two partners recently obtained a 136.9 million construction loan for CityPlace Doral a mixed-use project that will have 304 apartments in its first phase. Patterson also mentioned Marina Village in Boynton Beach and the 70 percent occupied 268-unit The Manor on Federal Highway in LauderdaleBy-The-Sea the latter of which was being offered to institutional investors. A key part for many projects is walkability to neighborhood amenities which is favored by millennials and institutional investors Patterson says. There are a lot of investors pouring money into real estate these days. Karsenti says the interest is being fueled by an enormous global money supply. In a low-interest rate world cash flow yields of 5 percent on real estate investments are pretty attractive when coupled with potential price appreciation he says. He doesn t expect interest rates to rise anytime soon. Real estate has become one of the most interesting places to park capital Karsenti says. High-quality cash-flowing real estate is the best place and a region like South Florida puts you ahead of the curve. Patterson is optimistic about continued rental demand saying onethird of people ages 18-34 still live at home. That s pent up demand he says. Those are my customers and they are still living at home. The age group is typically single and starting families later in life Patterson says. The single most common denominator they have is they want to live urban. BUSINESS HAPPENS Very little gets done in business without connections to the right people. Helping business make connections is what we do at the Greater Miami Chamber of Commerce. For more than 100 years this Chamber has been the leader in South Florida when it comes to advancing issues growing jobs closing deals and building a better community. Focused on business excellence leadership industry and community growth international business and public policy the Greater Miami Chamber has the reach and connectivity to make a difference. WHERE GOOD Panelists Arnaud Karsenti Peter Zalewski and Steve Patterson 305-350-7700 NOVEMBER 2015 29 T H E K I D BY BECKY RANDEL FLAGLER VILLAGE HAS QUICKLY EMERGED AS FORT LAUDERDALE S HIPPEST DESTINATION When a new neighborhood starts gaining attention it s often due to a combination of purposeful planning and fortuity. In the case of Flagler Village in downtown Fort Lauderdale the rise to cool has been a mixture of the city s dream for a live-work-play environment the local arts community taking a first step and the Great Recession (which led to great opportunity). Flagler Village roughly defined as the blocks just west of Federal Highway from NE Fourth Street to Sunrise Boulevard began its transformation from seedy to hipster around 2008. When FATVillage (Flagler Arts Technology) a multi-block hub for artists of all kinds created its monthly Artwalk foot traffic to the region quickly increased. Soon after The Bubble (now known as Jump the Shark) launched a popular performance space and art gallery and an edgy nightlife scene soon followed. Additional cafes bars and shops hoping to tap into this new audience were able to take advantage of lowered rents when the recession hit and the development of Flagler Village began to blossom. Now with a growing residential population thanks to a few large apartment buildings (conveniently adjacent to downtown) everything from pizza joints to beer gardens have been popping up. Our goal as a community is to make Flagler Village the best place to live work and play says Camille Hansen president of the Flagler Village Civic Association. She calls the area a diversified community and says the audience is becoming very young and vibrant. Recent openings include the 5 500-square-foot Mellow Mushroom an Atlanta-based pizza chain with an artistic 1970s feel. The restaurant already a hit since it opened in May delivers stonebaked pizza calzones gluten-free items and 48 beer taps at the oo I N N E W T O W N A repurposed Airstream serves as the outdoor bar at Rhythm & Vine 30 NOVEMBER 2015 HOT SPOTS NOVEMBER 2015 31 outside bar. May also saw the grand opening of Colada a Cuban coffeehouse from the owners of the 30-yearold Miramar Bakery. The shop offers coffee and food in addition to a bottomless Sunday brunch craft beer and an already-popular happy hour with specialty drinks and 4 empanadas. Arturo Pena of The Related Group one of the first developers in the area says At Related we love becoming part of a neighborhood and helping make it better. When we had this opportunity to develop The Manor at Flagler Village an entire city block of mixed-use space with frontage along Federal Highway a Fresh Market across the street and the Wave trolley to take folks to Las Olas we jumped on it. Having a slice of pizza at the Mellow Mushroom with my family last weekend really made me proud of helping create the great vibe in the Flagler Village neighborhood. In July The Related Group sold the 382-unit The Manor for 148.88 million to an affiliate of the Teachers Insurance & Annuity Association. These days Artwalk is more popular than ever while new outings like the thrice-yearly Night Owl Market a festival fusing art community and sustainability as well as the twice-monthly food truck gathering Food in Motion in Peter Feldman Park continue to fuel the creative backbone of this community. IT S A DIFFERENT CROWD THAN YOU D SEE ON LAS OLAS. IT S WHERE THE COOL KIDS COME AND PLAY. Probably the best example of the current vibe in Flagler Village though comes in the form of the new bar beer garden art gallery event space Rhythm & Vine. Started as a pop-up in late 2014 by David Cardaci and Derek Young (who originally partnered on a location of The Whole Enchilada) Rhythm & Vine hosts a nightly rotation of food trucks and concerts. After a quick and organic growth the partners set permanent roots in April of this year. I would say within a month of diving into the project we knew we were onto something bigger and better says Young. The space which includes an outside garden and inside bar featuring murals from celebrated local artist Purvis Young and world-renowned street artist Gregory Siff is geared toward people who are comfortable in their own skin Young explains. He says many of their customers relax in the garden by day and stay to party into the night. 32 NOVEMBER 2015 Far left Model Leann Crupi with dog Lincoln at the dog park at The Edge at Flagler Village Apartments Left Row of taps at the Mellow Mushroom Below The beer garden at Rhythm & Vine The men were influenced by their experiences in New York and L.A. and tried to import some of the creative side the more hip stuff that we felt Fort Lauderdale was lacking. As to why they chose this location Cardaci says This is where there s a lot of young professionals and a lot of businesses to serve those young professionals. Both men love the pedestrian atmosphere. About 50 percent of our customers come on foot or bike Cardaci says. I think that s a reflection of the concept that Flagler Village is about and developing into. They say their customers are a mixture of yachties (people who work and live on yachts) young professionals and in-the-know visitors. It s a different crowd than you d see on Las Olas. It s where the cool kids come and play Cardaci says. Young echoes this sentiment Las Olas is an invaluable part of this community... but we are different. We are not trying to imitate the Las Olas feel we want to complement it with a more urban and communal feel. The future of Flagler Village will certainly see more growth but it will be in keeping with the established cool factor that is a must in this neighborhood. A deli from the owners of Foxy Brown called Top Hat is set to open in August while Source Salon (an Aveda Lifestyle Salon) and The Brass Tap Beer Bar a craft beer bar with locations throughout Florida have signed leases as well. Additionally more than 2 164 new residential units are approved or planned for the area. But the most exciting news for Flagler Village is the recently approved loop on the Wave electric streetcar project. This will appeal both to residents developers and new businesses alike. The existing businesses couldn t be more excited. My hope is that creative competition develops within Flagler Village because that s what makes places like L.A. and New York so cool says Young. The more competition the better as long as we keep consistent with the concept of keeping that area creative and cool instead of cookie-cutter. NOVEMBER 2015 33 CEO CONNECT Andy s World 34 NOVEMBER 2015 Transworld CEO Andrew Cagnetta has a rock n roll heart and the state s top business brokerage NOVEMBER 2015 35 CEO CONNECT FEATURE FEATURE CEO CONNECT For two decades Andrew Cagnetta has been the CEO of Transworld Business Advisors the state s biggest company when it comes to successfully putting together buyers and sellers of businesses. Transworld also has a franchise consulting side that gives entrepreneurs access to more than 200 prescreened franchises. Its franchise development service assists people in growing their businesses through franchising. Transworld itself has also turned into a franchise business allying with United Franchise Group. Cagnetta is a leader in his profession as past chairman of the International Business Brokers Association and president of the South Florida chapter of the Florida Business Brokers Association. He is also on the board of the Broward Workshop and the Executives Association of South Florida. He was inducted into the Junior Achievement of South Florida Business Hall of Fame. Cagnetta is on the board of United Way of Broward County is a past chairman of Legal Aid Service of Broward County and is a past chairman of LifeNet4Families where he is known for his Andy s Family Pasta Dinner fundraiser. Cagnetta was interviewed before a live audience at Stache 1920s Drinking Den by Gary Press chairman and CEO of SFBW and Lifestyle Media Group. The CEO Connect series which is an invitation-only event developed by SFBW is sponsored by TD Bank. The following is an edited transcript of the conversation. Before we get real serious let s talk about heavy metal. Is it true that you play a mean Judas Priest and have 26 guitars I do have a lot of guitars. I m not sure about playing a mean Judas Priest but I can play Judas Priest. I understand your family manufactured guitars for 90 years Did that help give you entrepreneurial lessons and insight I think it did. They were a very successful company for many years that grew to a 20 000-square-foot facility on Long Island. We were just run over by Randy Friedlander of The Friedlander Group at Morgan Stanley Mark Boersma of Morgan Stanley and Gerald Czarnecki of the National Leadership Institute Matt Katz of Katz Barron Matt Shore of Steven Douglas Associates and Tim Rubio of Daszkal Bolton Lisa Anderson of CEO Connect presenting sponsor TD Bank gives opening remarks 36 NOVEMBER 2015 CEO CONNECT CEO CONNECT the Japanese manufacturing surge in the late 1970s. It taught me that you have to watch your back and always watch for market forces. I talk about the Uber-ization of industries. You ve see Uber run over the taxi industry. They made a better widget and have better customer service. We are all in danger of that if we don t keep on top of customer service. Just how long was your hair when you worked in marketing and promotions for Kramer Guitars after college It was past my shoulders it was longer than my nose It was the 1990s. Eddie Van Halen was huge and we were selling 1 million a month in guitars. We used to have drug testing at Kramer if you passed them they would give you some. You seem to have had leadership qualities from a young age I see you were president of your college fraternity Phi Sigma Kappa at Lehigh University. Did you always want to be a leader Everybody does something dumb once. Being president of your fraternity is probably the dumbest thing you could do because you are in charge of 25 drunken idiots. I remember my principal called me into his office in high school. I asked Why am I here He said You are one of the leaders in this high school. I got a strong leadership ethic from my grandfather. How did you end up moving here Allison my wife grew up in Hollywood. She went to the University of Hartford and got her undergraduate degree and master s. We had moved back to New Jersey where I grew up and it snowed 22 times one winter. Allison slid her car into a Pepsi truck and said I want to move home. Allison s dad wanted us to move here and raise a family. I said Make me a deal I can t refuse. He asked What do you want to do I said I want to own another business. Put it in writing. He actually put it in a letter. We moved down in a Honda Accord The CEO Connect was held at Stache 1920s Drinking Den on Broward Boulevard in downtown Fort Lauderdale Mary Robinson of Keller Williams and SFBW Chairman and CEO Gary Press NOVEMBER 2015 37 CEO CONNECT and lived in Allison s high school bedroom for a year and a half. I love my father-in-law. He blindly stroked the check for me to buy Transworld and he was absolutely nuts to do it. Your website says you were looking to buy a business and then met Don and Bonnie Parrish who owned Transworld. What made you go to work for them initially instead of buying a business I went to a lot of business brokers looking to buy a business. I felt like I was in a used car sales lot before I went to Transworld. They were very professional and friendly and they asked me to join the business as a salesperson. I had a good first year. I sold a metal recycling business in Miami and made enough to put a down payment on a townhouse. Peter Berg and Andy Cagnetta of Transworld Business Advisors You have sold a lot of businesses. What are the top qualities of the small business owners who showed the most success They are smart enough to not go in there and change things right away. Sometimes if you follow the system of the old person you are better off. Sometimes you have to sit back and see what works and what doesn t. The second thing is work ethic. At the end of the day you have to work hard. My famous line to Allison is I m not going to be home from Monday through Thursday. I m going to be at a networking event. Lastly you do need some money and resources. People are always looking for money to start a business. They all underestimate how much they need. Audience I was surprised by your answer when you said interference was the biggest challenge. I always felt valuation was the biggest challenge in talking with an owner to sell to me. They have delusions of grandeur. Out of all the times where we have a business owner and seller sign a deal 45 percent of those deals die. Everything else just gets in the way. It could be insurance. Bankers have to fit things in their underwriting. Buyers and sellers don t tell you things like I had a bankruptcy or One of my service reps ran over a little old lady last week is that an issue or Our biggest customer quit last week. How much of your business is that Oh 80 percent. That can be an issue. We look under the kimono and it can be ugly. Audience What s the major number that determines what a business should be worth All you need to know is businesses are worth two times earnings it includes all the owners salary and benefits. When you get to 1 million you get to a price of four to six times earning. Assets are important but they are not really important. What s important is What is the buyer going to make with your business How alive is the American Dream for entrepreneurs and what can be done to make it better I think it s more alive than it s ever been. The Internet is a great place. You see people starting businesses like Facebook and Amazon. People who before didn t have the means or education to start a business are really successful people. You watch these millennials coming out and also the kids that went and fought wars for us in Iraq and Afghanistan. I think the greatest generation is still coming. Who do you like for president I think we absolutely have the capacity to elect Donald Trump. We are the reality TV world. Frankly I think it s scary. I think it s a popularity contest at this point. I m a middle-of-the-road guy. I lean toward the fiscal conservative but I m socially liberal. I think marijuana should be legalized. I don t know what party that is but I want to vote for them. What are the biggest obstacles to someone successfully selling their business Third-party interference. It could be landlords attorneys accountants or people at a cocktail party. Also someone who thinks his or her business is worth too much. Melanie Geddes of LifeNet4Familes and Michelle Esposito of On the Ball Marketing 38 NOVEMBER 2015 At Greenspoon Marder it s all about YOU. We are committed to providing sophisticated and distinctive client service through our cross-disciplinary Client Team approach. Our goal is to understand the challenges that YOU face and build collaborative relationships and craft creative solutions designed and executed with long-term strategic goals in mind. Since our inception in 1981 Greenspoon Marder is a full-service business law firm with the experience needed to understand your challenges and develop the strategies that YOU need. We serve Fortune 500 middle market public and private companies start-ups emerging businesses and entrepreneurs across Florida and the United States. 888.491.1120 Aventura Boca Raton Fort Lauderdale Miami Naples Orlando Port St. Lucie Tampa West Palm Beach FEATURE Jay Cohen with a jar of his ProtiZyme protein powder No Pain Before Financial Gain Entrepreneur overcomes obstacles to succeed with fitness supplements BY KEVIN GALE 40 NOVEMBER 2015 Cohen told his wife she was going to hate him and he developed a mini-lab in his home. NOVEMBER 2015 41 FEATURE FEATURE The machine on the left rapidly spins the lids onto jars of nutritional supplements Jay Cohen is putting up some whopping numbers for growth at his nutritional supplements company IQ Formulations. From 2010 to 2013 the company grew 5 486 percent which put it at No. 50 on Inc. magazine s fastest-growing list. It ranked No. 572 this year and is on pace to double sales to 20 million with profit margins above 20 percent. IQ Formulations recently moved into a new 40 000-square-foot plant in Sunrise that has the capacity to handle up to 120 million in sales. Cohen has 40 employees and is looking to hire dozens more by the end of next year. It hasn t all been smooth sailing though. Cohen has had to overcome several obstacles in his career along the way including the recession and a product recall. Cohen grew up in South Florida and attended high school in Miami Shores before going to the University of Miami and the University of Florida. As a competitive weightlifter he was always looking for an edge and got into nutritional supplements. His father who was a doctor became interested and developed a company called Metabolic Nutrition. In 2007 Cohen bought the business from his father. Even as the economy tanked he managed to hit the company s highest level of profits. But in 2009 two of his top distributors failed and left him 500 000 in debt. I had my best year and worst year in one month he says. Cohen became discouraged about the industry which he says was all about selling cheaper and cheaper products with a focus on the bottom line rather than what was good for customers. It got to a point where I couldn t do it anymore. I burned out and I walked away from it. The turnaround came when one of his former vendors told him to Believe in what you believe in and do it he says. Cohen told his wife she was going to hate him and he developed a mini-lab in his home. After a lot of time testing formula after formula his parents gave him a loan to start IQ Formulations with a 1 000-square-foot space. He decided to avoid competing on price as some companies were taking inappropriate steps like spiking Jars of green apple-flavored E.S.P. (Energy Stimulant Pre-workout) reach the end of the product line 42 NOVEMBER 2015 NOVEMBER 2015 43 Cohen has consolidated his warehouse space at his Sunrise manufacturing plant amino acid which meant their products didn t have a long-lasting effect. It s kind of like comparing filet mignon and bacon Cohen says. He then went to his first trade show and Europa Sports Products a distributor in Charlotte North Carolina picked up his product. In 2010 Cohen did 124 000 in sales with packaging that had more of a pharmaceutical aesthetic which he thought would appeal to women. In 2013 IQ Formulations dealt with a major issue when the FDA informed him that his Hydravax product tested positive for an unlisted diuretic. Cohen says he was shocked but realized the company made a mistake by relying too much on due diligence from secondary suppliers. He took it as a learning experience and subsequently built a six-member quality control department spent 50 000 on lot expiration monitoring and decided to only source products in the United States. Every ingredient is now tested to make sure it matches previous batches. Cohen says he is also building an internal analytical laboratory. In our industry it s the balance of bringing efficacious products but also making sure consumer safety is at the forefront he says. Cohen has kept his distribution simple sticking with just Europa which helps control communication to the end user he says. IQ Formulations products are sold at retailers such as The Vitamin Shoppe but they are also sold on Cohen has taken an informational approach to marketing products with a science center and an ask the scientist feature on his website. The advice and products offered zero in on the needs of customers with different categories athletics competition injury training building mass weekend warriors and weight loss. The company has also published 100 articles since January and has produced 83 instructional videos for its YouTube channel. What we are into is the consumer annuity Cohen says. We want them to love our products and come back for years. 44 NOVEMBER 2015 NOVEMBER 2015 45 ADVERTORIAL Erik C. Sussman CFP CLU ChFC President and David B. Schulman CLU ChFC General Agent Three years ago when I decided to retire in January 2016 my wife Carrie gave me a marvelous gift a countdown clock which she set at 900 days. Every evening at 5 00 p.m. it loses a day. That clock was and still is a powerful motivator. It hangs conspicuously across from my desk serving as a visual cue of how long I have to do everything I want to do at MassMutual South Florida. My wife and I knew in our hearts that the only way I could truly move on would be if I left the business our employees and our clients in good hands. After all MassMutual South Florida is our second family. When I was asked to take over the agency I was only 26 years old. I often joke that not only was I offered the worst performing agency in the company but I was the third choice for the job and had to take a pay cut for the honor of the position. I frequently tell that story because with the trends all pointing to instant gratification ours was a story of old fashion growth and enduring success. It took us a decade to go from the worst performing agency in the MassMutual system to earn a spot in the top 10. Five years after that we cracked the top five. Now we have well over 36 000 clients and nearly 12 billion TIME TO PASS THE BATON of life insurance coverage in force . In 2014 our firm paid out over 42 million in life insurance benefits and over 3.6 million in disability income insurance benefits to clients. When I took over the agency we had 10 employees. Now we have 160 and we re still growing. Since receiving Carrie s gift preparing for the transition of the business became my singular mission. As a lifelong runner I used the relay race analogy. If you ve never done a relay race you might not be aware that there are right and wrong ways to pass a baton. The right way enhances performance while the wrong way slows the team down. A properly executed baton pass in a relay race involves both the passer and the receiver running at full speed. In fact the world record for an individual running the 400-meter race is 43.18 seconds while the world record for the 4x100 meter relay race is 37.18 seconds. That is 15% faster That s because in a relay race the 4-person team must master the baton hand-off. That s what we ve attempted to do in our agency. Run at full speed and pass the baton to my successor Erik Sussman who is also sprinting as fast as he can. 46 NOVEMBER 2015 Individual commitment to a group effort that is what makes a team work a company work a society work a civilization work . - Vince Lombardi. I hired Erik in July 2012 with the intention of having him succeed me upon my retirement. He came highly recommended and he had an impressive track record of increasing the growth and development of companies and financial associates he coached and mentored. I took an instant liking to him and my fondness and respect for him has grown even more over time. Erik shares in the values of the firm ... giving back acting with absolute integrity and caring about the people you work with and the clients you serve. Initially I gave Erik responsibility for critical functions at our firm ... training and recruiting and he exceeded my expectations. Over time I have increased his responsibility and in every aspect he continues to not only take it in stride but to improve our collective performance. With less than a hundred days on my countdown clock running full steam with my baton in hand I have utter and complete confidence. The promises I made to employees clients and the community will be fulfilled and the firm will not miss a beat in its mission to help clients secure their financial futures and protect the ones they love. An insured owner or payer of Massachusetts Mutual Life Insurance Company. Amount of individual life insurance in force as of 12 31 2014 related to products issued by Massachusetts Mutual Life Insurance Company and its subsidiaries C.M.. Life Insurance Company and MM Bay State Life Insurance Company. Amount of individual life insurance claims paid from 1 1 2014 to 12 31 2014 related to products issued by Massachusetts Mutual Life Insurance Company. Amount of disability income insurance claims paid from 11 1 2014 to 12 31 2014 related to products issued by Massachusetts Mutual Life Insurance Company. ALL FOR THIS MOMENT. ALL THOSE LONG HOURS. ALL THAT EFFORT AND ENERGY. Please join MassMutual South Florida in celebrating the accomplishments of David B. Schulman as he retires after 35 years of extraordinary service and leadership. Thank you for being a great example for all of us. Your hard work and dedication are simply inspiring You are starting a new journey and chapter of your life. May your days be filled with joy and happiness spending time with your amazing family and your continued involvement in the local community. We wish you a happy and healthy next stage in your life. Erik Sussman President MassMutual South Florida 1000 Corporate Drive Suite 700 Ft. Lauderdale FL 33334 954-938-8800 eriksussman LIFE INSURANCE RETIREMENT 401(K) PLAN SERVICES DISABILITY INCOME INSURANCE LONG TERM CARE INSURANCE ANNUITIES MassMutual Financial Group refers to Massachusetts Mutual Life Insurance Co. (MassMutual) its affiliated companies and sales representatives. Local sales agencies are not subsidiaries of MassMutual or its affiliated companies. Agency officers are not officers of MassMutual. 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). CRN201704-172490 NOVEMBER 2015 47 48 NOVEMBER 2015 50 NOVEMBER 2015 NOVEMBER 2015 51 52 NOVEMBER 2015 EASTWARD HO SUBURBAN TO URBAN LIVING We invite you to join us at a fun and informational panel discussion with five Fort Lauderdale Beach area developers to discuss why buyers are trading a single-family home lifestyle for luxury condos near the beach. Its an opportunity to hear from the experts and get your questions answered about a trend thats impacting the regions top industry. Thursday November 12 5 30 P.M. Weston Hills Country Club 2600 Country Club Way Weston FL 33332 RSVP to http by November 10 SPACE IS LIMITED This invitation is for you and a guest and is not transferrable. Jean Francois Roy Founder and President Ocean Land Investments Inc. Peggy Fucci Paramount President and CEO OneWorld Properties Amy Ballon Sabbia Beach Hemisphere Sales Group Andreas Ioannou The Ocean Resort CEO Orchestra Hotel & Events Andy Mitchell Auberge Fairwinds CHARITIES Switchboard Katz Barron Squitero Faust to Honor Nonprofit All-Stars BY BEVERLY BARNA It s been four years since Switchboard of Miami Inc. first launched the All-Star Nonprofit Awards to honor the hard work dedication and achievement of Miami-Dade County s nonprofit organizations their executive teams and other philanthropic leaders in the community. This year s awards luncheon slated for Thursday Nov. 19 at Jungle Island boasts first-time title sponsor and local full-service law firm Katz Barron Squitero Faust and features three new awards Outstanding Nonprofit Leader of the Year All-Star Lifetime Achievement All-Star and Young Leader of the Year All-Star. While the luncheon is sure to be an upbeat affair Switchboard CEO Catherine Penrod points out the seriousness behind the business of social responsibility. We save lives she says. There s a suicide every 13 minutes in this country. If we re not answering the phone somebody is going to lose their life. It s a pretty formidable business. Penrod got the idea for the awards from colleague Sheila Smith who heads up 2-1-1 Broward and conducts a similar soiree. I told her I wanted to steal her idea and she said fine Penrod says with a hint of a smile. Erica English partner with Katz Barron Squitero Faust says when she was introduced to Switchboard she was blown away by what they do and jumped at the chance to sign on as title sponsor for the event. How does she balance working full time as a partner in a law firm family life and her commitment to the awards Suffice to say she says I start at 5 30 in the morning and I go like hell until 11 at night. I enjoy my work day I get to the gym I enjoy my kids have some time with friends and a little bit of me time. On Nov. 19 English will spend some of that precious time celebrating stellar nonprofit contributions with Penrod and the winners of these prestigious awards. Categories in the fourth-annual Katz Barron Squitero Faust All-Star Nonprofit Awards include Most Valuable Nonprofit All-Star A nonprofit organization that demonstrates outstanding performance has a positive impact on the community and provides paramount service to clients. Leadership All-Star A nonprofit organization whose strategic vision passion perseverance and collaboration style has led to extraordinary organizational or community needs. Volunteerism All-Star A nonprofit organization that demonstrates the ability to encourage and incorporate volunteerism with its organization and community. Collaboration All-Star A nonprofit organization that demonstrates the ability to create lasting partnerships (with other nonprofits government organizations corporations etc.) to further the mission of its organization and strengthen the community. Innovation All-Star A nonprofit organization that demonstrates creative and nontraditional approaches to solving community and organizational challenges. Rookie of the Year All-Star A nonprofit organization with a promising future that is less than 5 years old and has a budget under 750 000. Outstanding Nonprofit Leader of the Year AllStar A nonprofit leader (CEO president or executive director) who demonstrates the qualities of an exemplary leader such as having a clear and proven vision a creative and driven executor of goals staff morale building and relationship-building skills. Lifetime Achievement All-Star An individual who has made exceptional contributions of at least 20 years to the nonprofit sector. Young Leader of the Year All-Star An individual in the community under the age of 40 who has shown a commitment to the nonprofit sector. Miami s All-Star Switchboard has created a Vote for Your Miami All-Star Facebook page through which organizations can submit their logos in a bid to gather most likes to be named Miami s All-Star. Katz Barron s Erica English Switchboard Miami Director Alexander A. Ramos and Switchboard Miami CEO Catherine Penrod 54 NOVEMBER 2015 Katz Barron Squitero Faust All-Star Nonprofit Awards Time Thursday Nov. 19 11 a.m. to 2 p.m. Location Jungle Island ballroom 1111 Parrot Island Trail Miami Tickets 50 for nonprofits 75 for general admission Additional Sponsors The Miami Marlins Florida Power & Light Interamerica Data FL Mercedes-Benz SFBW and Kip Hunter Marketing. More information NOVEMBER 2015 55 LEADERSHIP The Fred Factor Author and speaker Mark Sanborn gives insights on leadership collaboration and customer service BY KEVIN GALE Famous starlets may have been discovered at Schwab s Pharmacy in Hollywood but postal carrier Fred Shea was discovered when he knocked on the door of a new resident. Unlike every other postal carrier he introduced himself. He talked about how he could be of service and that was kind of the beginning point of the story says author and speaker Mark Sanborn. The story has resulted in two best-sellers The Fred Factor and Fred 2.0 which talk about how a can-do attitude can transform daily routine into the sublime. The beauty of Fred is he is not Bill Gates or Larry Ellison two of the richest guys on the planet Sanborn says. Fred had a very ordinary or even boring job but he made it artistry. He focused not on the job he had but how he did the job proving it s not the job but how you do the job that matters most. Sanborn will give insights during the Get Down to Business Lunch on Jan. 21 at the Kravis Center in West Palm Beach. SFBW which is a media sponsor talked with Sanborn via phone from his office in suburban Denver. Here are highlights of the conversation. Tell us about Fred and how it led to the books. He inspired me so I often told the story in my work as a speaker. One of the nice things about being a speaker is you get to test your material. So many people remembered and appreciated Fred. One woman who heard me speak about him sent him home-baked cookies via my address. I first met Fred in 1988 and the book came out in 2004. It s approaching 1 million in U.S. sales and another 1 million internationally. What can the audience expect to hear during your talk The big message is that no one can prevent you from being extraordinary. That s the underlying theme of my last five books. 56 NOVEMBER 2015 Mark Sanborn Everyone makes a difference. Neutrality is a myth. Neutrality is always interpreted as indifferent that s never considered a positive thing. What would be the biggest takeaway you would want to leave There are four principles based on the Fred Factor Everyone makes a difference. It s all built on relationships which differentiate everything. You can add value to anything you do and it doesn t have to cost a nickel. A lot of value creating is done with replacing money with imagination or capital with creativity. You can reinvent yourself everyday. Everyday we get to do and try something different but a lot of people don t. Reinvention is what keeps you excited engaged and innovative. How did you update Fred in the 2.0 version It s a whole new book. It builds on the principles but goes deeper and wider. People who read The Fred Factor wanted to know what happened to Fred so I went deeper into who he is and how he became that way. Is part of the resonance of Fred that he s in a historical field that is facing challenges these days With the bad press the U.S. Postal Service gets people are amazed when they hear a story of fantastic success. They wouldn t have that reaction to someone who works at Zappos. You may work for an organization that doesn t choose to be extraordinary but you can choose to be extraordinary and that s what Fred did. You often become extraordinary not because of but in spite of who you work for. What are some of the biggest trends people in business should focus on these days I think customer expectations are increasing rapidly because there are those organizations that have accustomed us to what really good service is like. We don t look at service delivery as a static but a dynamic. I think we live in a world where it s easy to copy successful organizations but the question is how to differentiate yourself. The biggest change in leadership isn t leadership it s followers. I increasingly believe people don t want to be viewed as followers they want to be viewed as contributors and collaborators. Followers suggests the same corollary that service and servants connote. The president of Sanborn & Associates is an internationally known leadership development speaker and best-selling author. Local Talk Get Down To Business Lunch presented by The Breakers Palm Beach on behalf of Easter Seals Florida Jan. 21 from 11 a.m. to 2 p.m. at Kravis Center West Palm Beach. Event and registration KWvmFq. For more information on tickets the event or sponsorships contact Heather Weisbrod at hweisbrod 561.471.1688. Books TeamBuilt Making Teamwork Work Upgrade Proven Strategies for Dramatically Increasing Personal and Professional Success The Fred Factor How Passion in Your Work and Life Can Turn the Ordinary into the Extraordinary Fred 2.0 You Don t Need a Title to be a Leader and The Encore Effect How to Achieve Remarkable Performance in Anything You Do. Clients More than 2 200 including John Deere ESPN Capital One Costco Enterprise Rent-A-Car FedEx Harley-Davidson Hewlett-Packard Key Bank KPMG Morton s of Chicago and Motorola Website The Story behind Get Down to Business SFBW asked Sue Ventura president and CEO of Easter Seals Florida to talk about how Get Down to Business started and its impact. Who helped come up with the idea for the event About nine years ago an Easter Seals Florida staff member Sue Ventura along with community leader Neil Merin [of NAI Merin Hunter Codman] created the event as a way to connect Palm Beach County professionals with leadership inspiration. Neil recruited community icons Paul Leone [of The Breakers Palm Beach] and Bill Perry [of Gunster] to support the event and they have been doing so since its conception. Jack Scarola of Searcy Denney Scarola Barnhart & Shipley P.A. will be our chairman for the event this year. Tell us about the importance of the event as a fundraiser Get Down to Business connects those in our community with a quality engaging business program while financially supporting the many children and families who depend on Easter Seals for services. This event is critical for us to support the needs of Palm Beach County as we offer services for children with disabilities and special needs. The Igoe-Amar Child Development Center serves children 5 weeks to 5 years old offering specialized education and early intervention services to ensure every child has an opportunity to be successful. Get Down to Business is a primary resource to engage our community while supporting a great cause. How does the fundraiser help Easter Seals interact with the business community While many businesses invest in leadership training and development for employees this event inspires action in leadership. This year s speaker Mark Sanborn is sure to impress. M E M O R I A L H E A LTH C A R E S YS TE M MR. President and Chief Executive Officer Memorial Healthcare System Frank V. Sacco S ALU T E S In his 40 years at Memorial and nearly three decades at the helm Frank V. Sacco has created a legacy of inspiration innovation excellence and outstanding patient care. With gratitude and pride we salute his exceptional leadership and generous service to our community. Memorial Regional Hospital Memorial Regional Hospital South Joe DiMaggio Children s Hospital Memorial Hospital West Memorial Hospital Miramar Memorial Hospital Pembroke LEADERSHIP COMMITMENT INTEGRITY INSPIRING CARING HUMANITARIAN INNOVATION VISIONARY PASSIONATE 58 NOVEMBER 2015 2015 APOGEE AWARDS APOGEE AWARDS Celebrating the Pinnacle Welcome to the second Apogee Awards a tribute to the success of 24 C-level executives throughout South Florida. Success in business these days is all about teamwork which is why SFBW includes the entire C-suite team in the Apogee Awards including chairman chief executive officer and president but also embracing chief operating officers chief financial officers chief information officers chief marketing officers and top HR SFBW Editor Kevin Gale executives. The awards reflect talent throughout South Florida with one honoree per category from each of our three counties. One of the things I like about the Apogee Awards is that it gives widespread public recognition to positions that often play key behind-the-scenes roles in the success of a business. Chief operating officers and chief information officers for example can be incredible drivers in the success of a business but often are not highly visible public faces. I am personally thrilled with the quality of this year s honorees. We spent considerable effort seeking nominations conducting outreach to the business community and doing research via LinkedIn and the websites of key businesses and professional organizations. The honoree profiles in this section show we have an abundance of world-class talent that has been recognized by national associations and the media. As I write this column we are just days away from the awards program taking place on Oct. 21 at NSU Art Museum Fort Lauderdale. I m looking forward to a great networking opportunity and a lively festive event that s the way we roll at SFBW. Look for photos from the event at and in our December issue. All of this would not be possible without our sponsors. Special thanks goes to presenting sponsor Mitch Kramer and his Octagon Family of Recruiting Companies (including its divisions Octagon Technology Staffing and Octagon Professional Recruiting). We would also like to thank our other sponsors Quantified IT Tripp Scott Attorneys at Law BankUnited Comcast Business and NSU Art Museum Fort Lauderdale. Sincerely Kevin Gale Editor-in-Chief South Florida Business & Wealth Top Business Event As CEO of the Octagon Family of Recruiting Companies I am honored to be the presenting sponsor of the second-annual Apogee Awards brought to you in partnership with Lifestyle Media Group and South Florida Business & Wealth. An Octagon has eight sides and the Apogee Awards is honoring eight outstanding individuals from each of the tri-counties. What makes this event so special Most of the events CEO of Octagon Mitch Kramer that I have attended over the years have recognized just one category of honoree. When SFBW s Chairman and CEO Gary Press and I sat down to discuss what corporate America is really about today we felt that an event recognizing all the C-suite executives would be a powerful statement of how closely each department works together. It is critical for finance information technology human resources operations and marketing along with the offices of the president CEO COO and chairman to work hand-in-hand to ensure their companies function effectively with the highest level of success. The match between Lifestyle Media Group and the Octagon Family of Recruiting Companies (including its divisions Octagon Professional Recruiting and Octagon Technology Staffing) couldn t be a more perfect fit. SFBW is an entrepreneurial magazine targeting the South Florida business community with a circulation unmatched by its competitors. Octagon is an entrepreneurial explosively growing professional recruiting firm with offices in Fort Lauderdale Miami-Dade and Boca Raton. SFBW shares cuttingedge information on all types of interesting people and companies in the community. Octagon connects the top talent in the marketplace with those same companies specializing in the areas of accounting finance technology human resources and general search. On behalf of the entire Octagon family I am both proud and humbled to have sponsored this year s event and to have had the opportunity to meet such a remarkable group of honorees. I would like to personally congratulate each and every honoree for being selected as a recipient of this prestigious award. 2015 marks the second of many years of partnership with SFBW and I want to thank the SFBW team for making this a wonderful experience for us Warm regards Mitch Kramer CEO Kevin Gale 60 NOVEMBER 2015 On behalf of the entire team at OctagOn I would like to personally congratulate each and every honoree this evening at the second Annual Apogee Awards event. Your accomplishments at your companies and your commitment to the community are what set you apart. Enjoy this wonderful evening. It is all about honoring each of you and we are proud to be able to be a part of this unique and special event FA M I LY O F R E C R U I T I N G C O M PA N I E S MIAMI-DADE Ft. LAuDErDALE BOcA rAtOn APOGEE AWARDS THE HONOREES CHIEF EXECUTIVE OFFICER Memorial Healthcare System Since July 1987 Frank V. Sacco has enacted dynamic change as president and CEO of the South Broward Hospital District known to the public as Memorial Healthcare System. It is one of the largest public health care systems in the U.S. with six hospitals a nursing home a home health agency primary and urgent care centers 11 000 employees and 1 700 physicians. Sacco began his career at Memorial in 1974 and became COO in 1985. He chaired the Governor s Medicaid Reform Task Force in 1996 and served on the Governor s Task Force on Health Care Reform and at the 1992 Florida Health Care Summit. He also served on Governor Jeb Bush s transition policy team in 1998 and 2002. In 2006 Sacco was honored with the Silver Medallion Award from the National Conference for Community and Justice. He has also been inducted into the Miami-Dade College Alumni Hall of Fame. FRANK V. SACCO BROWARD TERE BLANCA Blanca Commercial Real Estate MIAMI-DADE Kaufman Lynn Construction Michael Kaufman is president and CEO of Kaufman Lynn Construction a commercial construction management and general contracting fi rm he founded in 1989. Since that time the company has grown into one of South Florida s largest construction fi rms. It was selected as one of South Florida s Top Workplaces for 2015 by the Sun-Sentinel. Kaufman serves on the dean s advisory board for the Charles E. Schmidt College of Medicine at Florida Atlantic University and on the boards of the FAU Foundation and the Greater Boca Raton Chamber of Commerce. He is also a member of the United Way Tocqueville Society. He supports the Florence Fuller Child Development Center and the George Snow Scholarship Fund. He graduated from the University of Florida with a B.S. in building construction. MICHAEL KAUFMAN PALM BEACH Tere Blanca is the founder president and CEO of Blanca Commercial Real Estate the leading Miami-based commercial property real estate advisory services and brokerage fi rm. Blanca has more than 25 years of experience in the South Florida real estate sector. Prior to launching her own fi rm she served as senior managing director for Cushman & Wakefield of Florida and as senior vice president at Codina Realty Services. Blanca is chairwoman of City Year Miami a director of BankUnited and a past chairwoman of The Beacon Council. She was named on Real Estate Forum s 2013 Women of Influence Legends list and 2010 s Women of Influence list as one of 2013 s Top 25 Women in Real Estate by Commercial Property Executive as one of 2010 s Top Dealmakers of the Year by Daily Business Review and as one of 2007 s Ultimate CEOs by South Florida Business Journal. 62 NOVEMBER 2015 Blanca Commercial Real Estate is a team of experienced professionals with a shared commitment to achieve positive results. passion . experience . results Licensed Real Estate Broker NOVEMBER 2015 63 Tripp Scott Attorneys at Law is honored to sponsor the 2015 Apogee Awards & congratulates each of the Honorees for their accomplishments 64 TRIPP SCOTT ATTORNEYS NOVEMBER 2015 AT LAW WWW.TRIPPSCOTT.COM 954.525.7500 Quantified IT is proud to congratulate the outstanding honorees of the 2015 Apogee Awards NOVEMBER 2015 65 APOGEE AWARDS THE HONOREES PRESIDENT J. DAVID ARMSTRONG JR. Broward College J. David Armstrong Jr. brings more than 25 years of experience as a state and national leader in higher education and economic development to his presidency at Broward College. He leads one of the largest and most diverse colleges in America enrolling nearly 70 000 students from more than 150 different nations of origin. Under his leadership the college has transitioned from being a traditional community college to offering baccalaureate programs in targeted workforce areas. The college has been ranked among the top 10 community colleges in the nation after having been named among the top 10 percent of community colleges for the past two years by the Washington D.C.-based Aspen Institute. Previously Armstrong was the chancellor of the Florida Community College System and chairman of Leadership Florida and the Greater Fort Lauderdale Alliance. BROWARD MICHAEL D. KATZ Katz Barron Michael D. Katz is a founding member of Katz Barron a full-service law fi rm with offices in Miami and Fort Lauderdale. Katz began his practice in 1970 in Miami and Boca Raton. He was general counsel to Leonard L. Farber Company a major developer of regional shopping centers. Katz currently represents major commercial retail and multifamily developers lending institutions and general contractors. His areas of practice include commercial litigation real estate acquisition financing development leasing and litigation involving real estate construction and business organization. He has experience in generational wealth transfer administration of estates and trusts and business succession planning. He is counsel to the Ocean Reef Club and the Fisher Island Club. Katz is AV-rated by MartindaleHubbell has been included in Florida s Super Lawyers annual list since 2006 and has been listed as a Best Lawyer in America since 2009. MIAMI-DADE RICHARD HAYDUK Boca Raton Resort & Club Richard Hayduk is more than a steward of the iconic Boca Raton Resort & Club a Waldorf Astoria Resort he is ensuring the resort reflects the energy and vibrancy of Boca Raton. He has overseen the completion of a 30 million renovation and the addition of a FlowRider and surf lessons to help broaden the resort s family appeal. Hayduk has more than 25 years of experience in international luxury resort hotel and country club management. He was previously regional managing director for LXR Luxury Resorts in the Sanibel area vice president for the Cliffs communities in Travelers Rest South Carolina and general manager of Grand Caribbean Resorts Ltd. in Great Exuma Bahamas. He also spent 16 years at The Breakers Palm Beach and has international experience at Hotel d Angleterre in Copenhagen Denmark and Grand Hotel Continental in Munich Germany. PALM BEACH 66 NOVEMBER 2015 B E CO M E A M E M B E R O F F LO R I DA S P R E M I E R R E S O RT C LU B . A modernized Mediterranean Resort Village spanning over 300 acres Boca Raton Resort & Club and Boca Beach Club have every imaginable amenity including a recent 40 million renovation to the historic Cloister guest rooms. Summer stories begin here with the addition of Flow House Boca featuring the FLOWRIDER wave simulator and the award-winning Waldorf Astoria Spa. In your Premier playground there s plenty of time for after-hours and weekend socializing or deal-making on the golf courses or tennis courts. Whether it s business or pleasure you ll only find it all at these two world class resorts. TO S CH E D U L E YO U R P R I VATE TO U R P L E A S E CO NTAC T P R E M I E R CLU B M E M B E R S H I P SA L E S AT 5 61 - 4 47- 3 1 0 0 . 5 0 1 E A S T C A M I N O R E A L B O C A R ATO N F LO R I DA 3 3 4 3 2 T E L 5 61 . 4 47. 3 0 0 0 B O C A R E S O RT. CO M APOGEE AWARDS THE HONOREES CHAIRMAN MIKE JACKSON AutoNation Mike Jackson is one of the most influential and effective leaders in the automotive industry. As chairman CEO and president of AutoNation (NYSE AN) Jackson has modernized the automotive retail business with contemporary operational practices and customer service. In 2014 AutoNation sold more than 500 000 vehicles yielding more than 19 billion in revenue. It currently has more than 25 000 associates and 293 new vehicle franchises. AutoNation has been named America s Most Admired Automotive Retailer by Fortune five times. In 2009 Automotive News named Jackson on its list of the 50 Visionary Dealers of all time while in 2011 Fortune named him on its list of Top 50 Global Business Leaders. Previously Jackson served as president and CEO of MercedesBenz USA overseeing the German automaker s U.S. sales operation and 311 franchised dealerships. He is a special contributor to the CNBC Fox and Bloomberg business news networks. BROWARD ANTONIO L. ARGIZ Morrison Brown Argiz & Farra LLC (MBAF) MIAMI-DADE GEORGE LEMIEUX Gunster George LeMieux has a long history of public service as Florida s 34th senator in the 111th United States Congress. He served on the committees of Commerce Science and Transportation Armed Services and the Special Committee on Aging. He helped passed legislations on health care fraud export promotion rating agency reform and small business promotion. As Florida s deputy attorney general LeMieux oversaw more than 400 attorneys and appeared before the Supreme Court. He was chief of staff to Florida s governor overseeing all state agencies and operations. In addition to being chairman of one of the state s most prominent law fi rms LeMieux focuses on resolving business and governmental disputes and advising CEOs and C-level executives on business law and politics from both a state and national perspective. PALM BEACH Since 1997 chairman and CEO Antonio L. Argiz of Morrison Brown Argiz & Farra LLC (MBAF) has led the growth of his fi rm to become one of the top 40 accounting fi rms in the nation and the largest in Florida. MBAF is a 19-time honoree on INSIDE Public Accounting s annual list of the nation s 50 best-managed accounting fi rms. Argiz has in-depth knowledge and experience in practices involving audits business planning economic damages fraud examinations valuations and litigation. He is a nationally recognized practitioner in litigation consulting services. He has served on the American Institute of CPAs (AICPA) Nominations Committee and on the governing body of the AICPA. In 1986 Argiz was appointed to Florida s Board of Accountancy and was then elected to chair the board and its probable cause panel. 68 NOVEMBER 2015 THANKS FOR HELPING AUTONATION TACKLE CANCER. The AutoNation Cure Bowl is more than a game. It s hope for those who fight to survive. And it s a rally cry to the world to raise awareness and help bring an end to this deadly disease. AutoNation is proud to join the fight and extends a special Thank You to all of our partners including Ally and AutoTrader. We appreciate your partnership and support of the OFFICIAL TAILGATE PARTY & CONCERT to be held prior to the game. Together we ll DRIVE PINK and put breast cancer awareness front and center... and take a giant step towards finding a cure. Thanks again and see you in Orlando on December 19th. WE CAN TACKLE THIS. DRIVEPINK Official Tailgate Party & Concert sponsored by 12.19.15 RESERVE YOUR TICKETS TODAY ANCUREBOWL Gates open at 2 30 PM NOVEMBER 2015 69 APOGEE AWARDS THE HONOREES CHIEF OPERATING OFFICER JESSICA PAVLIK Berger Singerman Jessica Pavlik has over 15 years of experience in the management of law fi rms. As a results-oriented problem solver she plays an integral role on Berger Singerman s senior management and strategic planning team. She is ultimately responsible for all of the financial stability and productivity of the law fi rm. The number of lawyers at Berger Singerman has more than doubled in Pavlik s tenure and she has been a big resource in the fi nancial and operational planning of lawyer talent acquisition. Due to Pavlik s skills and the innovative management style of the fi rm s co-CEOs Berger Singerman s net profit has increased annually. Pavlik received her bachelor s in accounting from Florida State University. She is very involved in the community with her participation on charity boards such as A Child Is Missing and in local fundraising events for the Muscular Dystrophy Association and the Leukemia & Lymphoma Society. BROWARD XAVIER GONZALEZ eMerge Americas As COO and executive director of eMerge Americas a multiday conference in Miami Beach that looks at how technology and innovation are disrupting industries Xavier Gonzalez has put the exclamation point on the emerging technology scene in South Florida. In its second year eMerge Americas attracted 10 000 attendees from 50 countries 500 companies and 125 startups it had 200 speakers including top international names in business. The conference plays a key role in further establishing Miami as the innovation hub of the Americas engaging local educational institutions international entrepreneurs and sources of capital to help fuel ventures. Gonzalez was previously vice president of corporate communications and director of corporate communications at Miami s Terremark which was purchased for 2 billion by Verizon Communications in 2011. He was also director of marketing and communications for The Beacon Council. MIAMI-DADE MARK SMITH 3Cinteractive Mark Smith is COO of 3Cinteractive which he co-founded in 2007 and has since grown to over 150 employees. In 2013 Forbes profi led 3C with the headline America s Most Promising Company. 3C empowers many of the world s leading brands and retailers with mobile marketing services that increase customer loyalty brand awareness and results. Services include SMS and MMS messaging mobile coupons mobile wallet and mobile Web location-based services. Smith had 16 years of sales leadership positions at MCI before joining the startup Internet Billing Company one of the fi rst Internetbased payment processors. As executive vice president of sales and operations he was instrumental in growing the company to more than 400 employees who processed over a halfbillion dollars in payments each year. Smith is co-chair of the South Florida Technology Alliance s talent committee which focuses on workforce and economic development. PALM BEACH 70 NOVEMBER 2015 Congratulations to our Chief Operating Officer Jessica Pavlik Your well deserved Apogee Award is a reflection of your dedication and the success that you have helped build and sustain for our firm. The entire Berger Singerman team is proud of you BOCA RATON FORT LAUDERDALE MIAMI TALLAHASSEE IT S ABOUT LEADER SHIP eMERGE AMERICAS congratulates Xavier Gonzalez our COO & Executive Director for being recognized in the SFBW Apogee Awards. Xavier s leadership dedication and community engagement make him a vital part of the eMERGE AMERICAS team and the community as a whole. eMERGE2016 PRE-REGISTER TODAY NOVEMBER 2015 71 APOGEE AWARDS THE HONOREES CHIEF MARKETING OFFICER BRIAN WALLACE Magic Leap Inc. Brian Wallace brings years of experience at leading technology companies as chief marketing officer of Magic Leap Inc. which has been backed with a 542 million investment from Google and has a highly anticipated Cinematic Reality human computing interface. Wallace was previously vice president of global digital marketing and media at BlackBerry when it was ranked by Forbes as the world s fastestgrowing company. In 2011 he became vice president of strategic marketing at Samsung and the company s overall Android market share increased by 300 percent. In 2013 Google named Wallace vice president of brand and product marketing at its newly acquired Motorola Mobility division. In 2012 Wallace was named to Business Insider s list of 17 People Who Redefi ned Advertising and to iMedia 25 s Internet Marketing Leaders and Innovators list. He was also named to the Advertising Age Marketer A-List in 2011. BROWARD MAYLYNN VARGAS- ERIC LEBERSFELD Capitol Lighting MENOUD Roig Lawyers Maylynn Vargas-Menoud has more than 16 years of experience in the South Florida legal market focusing her efforts in marketing public relations practice and business development and legal recruiting. Throughout her professional career she has worked for a multitude of national and regional law fi rms including Greenspoon Marder Law Greenberg Traurig Hunton & Williams Stearns Weaver Miller and GrayRobinson. As the practice development and marketing director for Roig Lawyers Vargas-Menoud has led the development of the fi rm s rebranding initiative including its website redesign and internal and external communications for brand positioning consistency. Her primary focus has been in promoting and executing practice groups marketing and media plans which drive and support the fi rm s overall growth and long-term vision. She has built a strong and dynamic infrastructure to accomplish many of the fi rm s objectives. Eric Lebersfeld is on the leadership team at Capitol Lighting a 91-yearold lighting and home furnishings retail chain founded by his greatgrandparents. During Lebersfeld s 28-year tenure at Capitol he has held numerous positions from cashier to manager to buyer to vice president of marketing to now president and chief marketing officer. Lebersfeld has been instrumental in building an omni-channel retail business with 300 brands and more than 1 million products. The company interacts with 12 000 designers who are served by 170 lighting professionals. Capitol has illuminated more than a million homes and offices and thousands of iconic commercial businesses. It is opening new showrooms in Fort Lauderdale and Miami. Along with serving on the board of Habitat for Humanity Lebersfeld is co-chairman for the business and professionals division of the Jewish Federation of South Palm Beach County. MIAMI-DADE PALM BEACH 72 NOVEMBER 2015 RANKED BEST BANKS IN AMERICA BY FORBES AS ONE OF THE Better relationships. Better tools. Better banking. Visit one of our branches and find out what better banking can do for you. CALL US TODAY 1-877-779-BANK (2265) Bethesda Health s Board of Trustees Congratulates Chief Financial O cer Vice President of Finance Joanne Aquilina Thank you for your dedicated service and leadership Roig Lawyers proudly salutes our very own Maylynn Vargas-Menoud for being selected as South Florida Business & Wealth Magazine s 2015 Miami-Dade Chief Marketing Officer of the Year. As Practice Development and Marketing Director of Roig Lawyers Maylynn is being recognized for her demonstrated leadership in marketing strategies legal recruiting business development and client service that continuously delivers breakthrough and game-changing outcomes. Congratulations on this well-deserved honor different is bringing more to the table 1-855-ROIGLAW NOVEMBER 2015 73 APOGEE AWARDS THE HONOREES CHIEF FINANCIAL OFFICER STEVE WILDER City Furniture Steve Wilder has played a key role in the growth of City Furniture for the last 34 years. He started his career as a CPA and his financial acumen has helped City Furniture become a top-30 retailer on Furniture Today s list. Wilder says he was fortunate to join his favorite client Waterbed City the predecessor to City Furniture in 1981. Waterbed City led by Keith Koenig and his late brother Kevin represented the true essence of entrepreneurial spirit which Wilder says allowed him and many others to have the opportunity to learn grow and have a rewarding career. In 1994 the company rebranded to City Furniture achieving 800 percent growth from 1994 to 2006. This helped the company withstand the Great Recession which saw numerous furniture retailers go out of business. BROWARD DANIEL KUSHNER City National Bank Daniel Kushner has been executive vice president and chief financial officer of City National Bank for eight years. In 2008 he was instrumental in the largest bank transaction of the year the sale of City National Bank to Caja Madrid the fourth-largest bank in Spain. Recently he played a key role in the marketing and sale of the bank to Banco de Cr dito e Inversiones (Bci) of Chile. Kushner implemented a change management division at the bank that has been successful at evaluating improving and controlling changes in systems technology and processes. He oversees the bank s portfolio of more than 1.5 billion. He is also chairman of the Asset Liability Committee and a member of numerous other committees. Kushner assumed the CFO position after nearly 30 years as a CPA with Gerson Preston Robinson & Company P.A. He became a Chartered Global Management Accountant in 2010. MIAMI-DADE Bethesda Health Inc. Joanne I. Aquilina is a CPA and vice president of finance chief financial officer of Bethesda Health Inc. which operates two not-for-profit hospitals in Boynton Beach. Aquilina is responsible for the financial operations of the system and is a member of its executive council. She started with the company in 1996 working her way from assistant controller to controller to assistant vice president of finance to her current position. Aquilina has over 10 years of public accounting experience working for a regional-certified public accounting fi rm with an office in Boca Raton. She is a fellow and Certified Healthcare Financial Professional for the Healthcare Financial Management Association (HFMA). Aquilina served for eight years on the board of HFMA s Florida chapter and was chapter president from 20112012. HFMA awarded its highest chapter honor the Robert M. Shelton Award to the Florida chapter in 2013 to recognize five continuous years of excellence in chapter leadership. JOANNE I. AQUILINA PALM BEACH 74 NOVEMBER 2015 NOVEMBER 2015 75 APOGEE AWARDS THE HONOREES CHIEF INFORMATION OFFICER Nova Southeastern University Tom West is Nova Southeastern University s (NSU) chief information officer and vice president for information technologies. He arrived at NSU in March 2011 to advance strategic goals with increased investments in academia technologies. West was previously chief technology officer of Health Choice Network in Miami and chief information officer at Kaplan Higher Education where he built an IT support team of more than 450 employees in less than five years. He also served as senior vice president of global information technology and engineering for Pfizer pharmaceutical as vice president of global information technology for Citigroup Latin America and as senior director of IT for General Electric corporate in Asia Pacific and Latin America. In 2014 West was named one of America s Top 100 Global CIOs by IDG Enterprise. He is on the board of Florida LambdaRail a research and education network. TOM WEST BROWARD Miami Dolphins and Sun Life Stadium Tery Howard is in her 17th season as senior vice president and chief technology officer for the Miami Dolphins and Sun Life Stadium. She directs technology initiatives and the strategic direction of business operations to drive consumer and fan engagement. The Miami Dolphins was recognized by InfoWorld as a top 100 company in using technology to enhance business by PC Magazine as a top 10 company using technology in intelligent ways to improve business and by Computerworld as a leader in best practices in mobile and wireless. In 2011 SportsBusiness Journal named Howard an industry game changer. She is a recipient of the Glass Ceiling Award from the Florida Diversity Council. Howard is an advisor to eMerge Americas and on the dean s advisory council at St. Thomas University. She spent 16 years with Carnival Cruise Lines managing shipboard technologies. TERY HOWARD MIAMI-DADE LAKSHMAN CHARANJIVA NextEra Energy Lakshman Charanjiva is vice president and chief information officer for NextEra Energy Inc. (NYSE NEE) the parent of Florida Power & Light. He joined NextEra in December 2008 and is on its operating committee. A chartered accountant with an MBA from Tulane University Charanjiva was previously vice president and global chief information officer for the AES Corporation. He served as co-chair for the Edison Electric Institute s CIO committee and on the advisory boards of the Palm Beach County School District the Tulane Energy Institute Cisco and SAP. Charanjiva received a Top 10 Breakaway Leaders Award at the Global CIO Summit in 2011 and was one of ExecRank s 150 Most Distinguished CIOs in 2012. He was also named to Computerworld s Premier 100 IT Leaders list in 2013. In 2012 and 2013 NextEra was named to Computerworld s list of 100 Best Places to Work in IT. PALM BEACH 76 NOVEMBER 2015 W E C O N G R AT U L AT E T E RY H O WA R D S V P C H I E F T E C H N O L O G Y OFFICER FOR THE SFBW APOGEE AWA R D S H O N O R E E FOR CIO MIAMI DADE COUNTY NOVEMBER 2015 77 APOGEE AWARDS THE HONOREES SENIOR HUMAN RESOURCES EXECUTIVE TRACY WIGGAN Federated National For over 20 years Tracy Wiggan has focused her career in the fi nancial services industry. She joined Federated National (formerly 21st Century Holding Co.) in 2005 and was promoted to director of human resources in 2008 where she continues to oversee the growth and development of the company with responsibilities for compliance training and development payroll compensation and benefits. She recently took over the operations of facilities management in addition to her HR responsibilities. Federated National which began in 1992 offers homeowners insurance condo insurance flood insurance umbrella liability insurance and general liability insurance. It has a financial stability rating of A (exceptional) from Demotech. Wiggan believes in education and volunteers her time at a local high school where she speaks to junior and senior classes about the expectations of entering the workforce. BROWARD Baptist Health South Florida Adriene McCoy has more than 20 years of experience in health care human resources management. She leads Baptist Health South Florida s HR function which includes talent management talent acquisition benefits compensation leadership development employee learning HR operations and employee communications. McCoy s background includes leadership roles in both for-profit and nonprofit health care environments including large hospital systems and acute and long-term care facilities. Since joining Baptist Health eight years ago her mission has been to transform the HR team to make it more responsive to the needs of employees and the business. During her tenure Baptist Health has increased its employee population by almost 5 000. McCoy is on the advisory board for FIU s Center for Leadership and on the board of Big Brothers Big Sisters of Greater Miami. She is the 2015 winner of the Greater Miami Chamber of Commerce Executive Leadership Excellence Award. ADRIENE MCCOY MIAMI-DADE SBA Communications Jo Carol Rutherford has been the senior vice president and chief human resources officer of SBA Communications (NASDAQ SBAC) since January 2014. She joined the company in July 2001 as vice president of human resources and has been instrumental in overseeing critical functions that drive culture organizational growth and change management to support SBA s corporate strategy on a global basis. Prior to joining SBA Rutherford spent nine years with Invacare Corporation an ISO-certified manufacturer of home health care products. From 1998 until 2001 she was corporate director of human resources for Dixon Ticonderoga where she managed all human resource functions including collective bargaining plant consolidations and organization restructuring. Rutherford has a Bachelor of Arts in organizational psychology and an MBA and is a certified Senior Professional in Human Resources. JO CAROL RUTHERFORD PALM BEACH 78 NOVEMBER 2015 COLLECT SMARTER. Ditch the blanket approach. Each of your clients is different. Customize your collection approach to each client and watch recovery rates soar. With our automated system you will save money without losing your hard-earned client relationships. For an in-depth is accounts receivable analys . ase contact Scott Krasick ple scott.krasick k COLLECT SMARTER. (305) 582-8258 Find more info at Collect Smater 1 4 page Scott Krasick.indd 1 7 28 14 6 54 AM True Leadership Congratulations to Adriene McCoy Baptist Health South Florida s corporate vice president and chief human resources officer for being honored with a 2015 Apogee Award from South Florida Business & Wealth. Recognized as the Top HR Executive in Miami-Dade County Ms. McCoy has a record of outstanding business achievement and community service. We at Baptist Health commend her executive leadership and are proud to call her one of our own. A not-for-profit organization supported by philanthropy and committed to our faith-based charitable mission of medical excellence NOVEMBER 2015 79 SAVE THE DATE BELLISSIMA OPENING GALA Presenting Sponsor This elegant evening will celebrate the opening of the exhibition Bellissima Italy and High Fashion 1945-1968 and the 30th anniversary of NSU Art Museum Fort Lauderdale s building. Proceeds from the event will benefit the museum s education and exhibition programs. Visit gala for more information. The exhibition Bellissima Italy and High Fashion 1945-1968 is conceived by the MAXXI National Museum of the XXI Century Arts. Curated by Maria Luisa Frisa Anna Mattirolo and Stefano Tonchi. On view at NSU Art Museum Fort Lauderdale February 7 - June 5 2016. Lifestyle_Mag_ad_1007.indd 1 10 13 15 3 26 PM TOM WeST Vice President for Information Technologies and Chief Information Officer The board of trustees NSU President and CEO George L. Hanbury Ph.D. faculty and staff members students and alumni of Nova Southeastern University proudly congratulate Tom West M.B.A. NSU s Vice President for Information Technologies and Chief Information Officer for being selected as the Apogee Awards CIO of Broward County. You are an individual of merit because of your hard work and dedication to our community. 800-541-6682 CONGRATULATIONS TO 10-016-15NOM 80 NOVEMBER 2015 SBA Communications Corporation congratulates Jo Carol Rutherford Executive Vice President and Chief Human Resources Officer and all of the other honorees in the 2015 APOGEE AWARDS in our business it is all about the signal. 800.487.SITE NOVEMBER 2015 81 COMMERCIAL REAL ESTATE Peaking Volume Commercial real estate sales volume reaches previous peak levels and prices for trophy towers top last boom Do you remember 2005 Those were the boom days of commercial real estate when trophy office towers shopping centers and big-box distribution facilities were selling faster than the Momma s Pancake Breakfast special at Cracker Barrel on Sunday. Well investors are once again gorging in South Florida. West Palm Beach s Phillips Point and Brickell Avenue s Espirito Santo Plaza and 800 Brickell buildings are among the top-tier assets that have traded this year setting new heights for what investors are willing to pay for a South Florida skyscraper. At 245.5 million or 554 per square foot the May sale of the 443 498-square-foot Phillips Point on Flagler Drive in West Palm Beach arguably sets the new record for the highest price ever paid for a major multi-tenant office property in South Florida. Right on its heels is the September sale of the 260 000-square-foot Espirito Santo Plaza for 142 million or 546 per square foot. And the buying binge and soaring prices are not limited to swanky office high-rises. Across all commercial sectors investors rang up 4.84 billion in acquisitions in the second quarter of the year according to data from New York-based real estate research firm Real Capital Analytics. That is the highest dollar volume since the third quarter of 2005 when 5.35 billion in commercial real estate traded hands. Real estate fundamentals are very strong right now driving rents occupancy and values up says Christian Lee vice chairman of CBRE in Miami. With healthy values many owners have elected to become sellers and there is more than enough debt and equity-seeking South Florida investments to scoop up what comes to the market. South Florida pricing may still have more room to run. In the second quarter the commercial real estate price index which measures pricing strength across the office industrial retail and hotel sectors remained 4.1 percent below its thirdquarter 2007 peak in South Florida according Jim Costello senior VP of Real Capital Analytics. Comparatively he says the national commercial real estate price index is up 6 percent from its previous peak in the fourth quarter of 2007. Another way to look at it is that it just took longer for the recovery to take hold in South Florida and investors were more cautious going back into South Florida because of the breadth of the downturn Costello says. Douglas Mandel senior VP of investment sales firm Marcus & Millichap says many owners who bought assets during the last commercial bull market are now seeing their 7- and 10-year loans mature during this market rebound and believe it is the right time to sell. He says this bevy of willing sellers paired with the influx of investors is driving up deal volume and pricing. It is a good exit time Mandel says. I don t know if we are at the top of the market but it is leveling out. 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. 82 NOVEMBER 2015 TOP 2015 INDUSTRIAL SALES Ranked by price per square foot (buildings larger than 50 000 square feet) Source CBRE Morton Burnstein & Co. TOP 2015 OFFICE SALES Ranked by price per square foot Source CBRE 495.10 per sq. ft. 378.16 per sq. ft. 213.89 per sq. ft. HSBC Building Miami Beach 36 947 square feet 21 million Phillips Point 568 per sq. ft. 554 per sq. ft. 546 per sq. ft. 534 per sq. ft. 485 per sq. ft. Miami 54 333 square feet 26.9 million IVAX Miami 68 754 square feet 26 million 7800 NW 29th Street West Palm Beach 443 498 square feet 245.5 million Espirito Santo Plaza Miami 260 000 square feet 142 million 800 Brickell Miami 209 122 square feet 111.6 million Brickell Office Plaza Miami 180 000 square feet 38.5 million Bridge Point Marina Mile Port 95 Commerce Park 118 per sq. ft. 113.87 per sq. ft. per sq. ft. Fort Lauderdale 189 620 square feet 22.4 million Fort Lauderdale 277 000 square feet 31.5 million Pembroke Commerce Ctr. 113.47 Miami 288 457 square feet 140 million Key Biscayne Office Centre 457 per sq. ft. Key Biscayne 45 390 square feet 20.8 million Meridian Center Hollywood 266 676 square feet 30.3 million Miami Industrial 111.93 per sq. ft. Trade Center Miami 154 560 square feet 17.3 million Southern Mills Business Park 111.08 per sq. ft. Royal Palm Beach 86 400 square feet 9.6 million Dole Fresh Flowers 105.19 per sq. ft. HQ portfolio Pompano Beach and Miami 674 994 square feet Centergate at Gratigny 418 per sq. ft. Miami Beach 55 000 square feet 23 million Financial Center 335 per sq. ft. at the Gardens Palm Beach Gardens 188 378 Square feet 63.1 million Weston 313 per sq. ft. Corporate Ctr. Weston 149 500 square feet 46.8 million Continental Plaza 305 per sq. ft. Coconut Grove 137 535 square feet 42 million 97.89 per sq. ft. Hialeah 978 164 square feet 95.8 million Help Protect Florida s Children by Purchasing the Lauren s Kids Love and Healing License Plate designed by the internationally acclaimed artist Romero Britto. The Lauren s Kids foundation works each and every day to prevent childhood sexual abuse through education and awareness and to help survivors heal with guidance and support. Learn more at WWW.LAURENSKIDS.ORG NOVEMBER 2015 83 DIRECTOR S VIEWPOINT Cybersecurity and the Board Why board members need to tune in to risks and procedures BY BETSY ATKINS In the past 12 months we have seen one massive corporate security breach after another. Major retailers (Target Home Depot Neiman Marcus Sony) e-commerce sites (eBay) and financial institutions (JPMorgan) have all been victims. Taken individually digital security breaches serve as a warning for executives and security professionals to remain vigilant. However when every major breach shares the same telltale strategy it is a sign that there is something more fundamentally broken in enterprise security that must be addressed. There are several important similarities in these attacks all suggesting that your company s data security protections need stronger oversight. Security looks for the first step but misses the life cycle of an attack. Traditional online security structures attempt to detect and block malicious payloads (either a piece of malware or vulnerability exploit). In a modern attack the initial compromise is just a means to a much larger end. The vast majority of security technologies are not designed to see the so-called long con of an attack. Even though the security industry continues to develop more and more advanced methods of detecting individual pieces of malware there is still little ability to see the larger attack that follows the initial malware attack. There are infinite opportunities for security systems to fail. As computing and business have evolved the attackable areas of enterprises have become nearly impossible to secure. Employees use mobile devices that are routinely outside corporate firewalls. Corporate applications and data are increasingly both inside and outside the perimeter. 84 NOVEMBER 2015 DIRECTOR S VIEWPOINT Online security has become incredibly complicated and corporate directors may not even know the fundamental distinctions between the various types of online intrusions. Boards need to understand that they are supposed to be offering oversight on these risks as part of their fiduciary duties. They must ensure that there are internal controls in place to protect their corporation s cyberassets. The stakes are high a study found that up to 21 trillion in global assets could be at risk from cybercrime. A solid board structure is needed for monitoring and managing cyberrisk in the company. To begin I recommend a series of committee briefings so that cybersecurity is demystified and better understood. However given the complexity and dangers involved I think the time has come for boards to create dedicated cybersecurity technology committees. It is crucial that boards require management to present their policies on cybersecurity and request that management write up their security practices and standards and their protocol for responding to a security breach. Boards should be able to identify the manager responsible by title and in what time frame he or she is to respond to an intrusion. In the event of a cyberbreach the board should then schedule an update from the security committee on any forensic review. The company may need to disclose any data breach in SEC filings if the breach was material. Your board might be surprised to find out that a court considers failure to disclose a cyberattack as a material omission according to some interpretations of new SEC guidance on disclosure. SHAPING YOUR CYBERBOARD Board action items for cybersecurity w Management needs to encourage the board to fully embrace cybersecurity as a governance oversight responsibility. The board needs information and training on cybersecurity issues so they are not seen as too complex or technical outstripping the board s ability to exercise oversight. w The board should consider whether a change needs to be made in the way cybersecurity oversight is currently handled at the board level. Is there a need for a new security compliance committee w The board may require new candidates with computer security backgrounds in the director nomination process. w Given the risk exposure involved the board should work with the general counsel to determine the extent to which existing directors and officers insurance coverage provides protection. w For the board to exercise effective oversight directors will need an understanding of what matters are properly reserved to the CIO what matters require board awareness and what matters require board committee oversight action and or approval. Boards must get out in front of cybersecurity and create clear policies to proactively address this very real risk. Betsy Atkins is the founder of venture capital firm Baja LLC and former CEO and chairman of Clear Standards Inc. Her current board memberships include Polycom Inc. HD Supply Darden Restaurants and Schneider Electric SA. Contact her at betsyatkins. Time to trade the corner office for your own little corner of the world A Transworld business advisor can get you there. Every day Transworld Business Advisors connects quality top-paying acquirers with business owners ready to sell and move on to the next stage in their careers. As the world leader in business sales franchising and mergers and acquisitions Transworld has access to a huge database of individual domestic and immigrating buyers and strategic corporations looking for the right business opportunity. And Transworld has the expertise to ensure any business sale goes smoothly. So whether you re ready to sell your business or buy an existing business or franchise contact a Transworld Business Advisor for a free consultation today. Andrew Cagnetta OWNER CEO 800.205.7605 t NOVEMBER 2015 85 TECH HUB Millennials Impact Business Technology BY CHRIS FLECK The millennial generation which I ll define as those ages 18 to 34 is having an increased impact on business technology. Born into the age of the PC and early Internet this demographic is more proficient and demanding of apps devices and IT services than earlier generations. In the past progressive IT organizations would consider this group as a category to accommodate making the company appealing to college recruits and new hires. More recently however this generation is now mainstream and has more influence in driving IT strategy. Its members now include partners at large firms doctors that never used paper charts and executives making purchasing decisions. The IT strategies to consider that not only accommodate but prioritize for millennials include so that all the required apps and data are available but business security is not compromised from the potential for data loss. User Experience Take what you re given and live with it is no longer an acceptable IT mandate to employees. Millennials have a low tolerance for a bad user experience. If IT only provides apps and services that meet the security requirements but ignores the user experience chances are employees will find a way around IT. Also know as shadow IT this happens when IT does not provide safe apps and services with a good user experience. A classic example is employees using personal Dropbox accounts for saving and sharing company documents. Alternatively a service like ShareFile can provide employees the function and user experience they want yet allow IT to keep the control they need to protect the company s intellectual property. BYOD The Bring You Own Device strategy was originally championed by Citrix and is now a consideration of every IT organization. Don t think a millennial knowledge worker will be satisfied Workplace of the Future A drab with a clunky locked-down laptop or a office with a sea of cubicles is not a smartphone on which they cannot install compelling environment for millennials their own apps. nor anyone else. Progressive organizations This does not mean anything goes with are building new digital workplaces no control. It is possible for IT to provide that have lots of collaboration spaces virtual desktops such as XenDesktop for and architectural personality. They are safe access to information from personal also using beacons and IoT (Internet of PCs Macs and tablets. For smartphones Things) to make the office smart and mobile application management (MAM) more productive. When combined with software such as XenMobile can The workplace of the future includes space for collaboration work-from-anywhere capabilities and manage the apps and data on personal smartphones if a device is lost or an employee leaves only the company unassigned offices and cubicles many organizations are saving millions in real estate costs by increasing occupancy and density per square foot. data is wiped and not the personal photos etc. Conventionally shrinking space can be a turnoff but a new cool office can Work from Anywhere Millennials want the option to work from make it fun to come to work and help recruit and maintain the best talent. anywhere whether that is the coffee shop home or on a trip. This does not necessarily mean a dedicated remote workforce but it does mean Chris Fleck is on the board of the South Florida Technology Alliance providing flexible work schedules including working outside the office. and is vice president of emerging solutions for Citrix Systems This could mean once a week or on occasion like when kids are sick or (NASDAQ CTXS) a Fort Lauderdale company that provides secure there are contractors at home. Again the right IT tools need to be provided remote access to data and applications. 86 NOVEMBER 2015 GENEROUS AMAZING GIFT BASKETS Send your friends family and clients the best of Florida s sweet side with one of our gift baskets. Loaded with our signature treats it is a gift they will never forget. Celebrate with Hoffman s Hollywood 954-962-5972 Fort Lauderdale 954-368-4320 Plantation 954-616-5775 Boca Raton 561-750-0021 Lake Worth 561-766-2517 Greenacres 561-967-2213 Palm Beach Gardens 561-626-2009 COMING SOON Weston & FLL Airport locations HOFFMANS.COM Newly remodeled. Now serving pareve chocolates. SALES STRATEGIES Why Hiring Millennials in Sales can be the Right Move BY GRETA SCHULZ I can t find any good salespeople out there. I even tried to hire some young college kids and that was a mistake says Matt who is a sales director. I hired a few of them and they just aren t engaged. They just seem bored. Well they probably are bored. Today this age bracket looks at things completely different from some of us more experienced in business. According to a study from the University of North Carolina s Kenan-Flagler Business School and the Young Entrepreneur Council millennials are highly ambitious with a majority of them placing an importance on jobs with chances for career progression and personal growth as well as freedom and flexibility. Millennials prioritize value and meaning in their work over money if their jobs are aligned with their passion they will go the extra mile. We need to take another look at whom we hire how we hire and how we train. Our interactions with millennials need to be interactive and fluid. This generation has had more freedom which they crave. If you try to put them into your corporate box you will probably fail. THE ENTREPRENEURIAL SPIRIT Business leaders want creative thinking drive and some level of risk-taking. Unfortunately they often are unwilling to make internal changes to create that type of environment which is especially important to attract and retain millennials. I have been trying to get organizations to hire salespeople that can be intrepreneurs employees with a true creative entrepreneurial spirit. To obtain this it is important to give these hires an environment in which they can thrive. Characteristics that are most often associated with entrepreneurs are motivated creative initiative and risktaking. They tend not to fit inside the rules and often bend them to make things happen. Do we want these characteristics in our sales organization You bet. CREATE THE RIGHT ENVIRONMENT So what do we do Here are some changes you ll need to make in order to find millennials and create an environment in which they can succeed w Look on social media for candidates LinkedIn Facebook Twitter Instagram and Glassdoor. w Create a casual open environment that encourages communication and out-of-the-box ideas. Be open to changing the rules if there is a different way of doing something. w Let them communicate with technology even if you wouldn t. Their first choice may be to put something in electronic form and not in person let it happen. w Use flex-schedules. Don t hold them to a 9-to-5 schedule or require them to check into the office. Give them a goal and very long leash to get there. Make sure you are creating this environment. Today this generation checks you out in lots of different ways such as via critiques on Glassdoor. Millennials are much more productive than they are given credit for. They know how to use technology efficiently. They are committed when their contributions and ideas are encouraged and recognized. They are also superior at communicating your brand. These make them natural recruiters for top talent. There are lots of good reasons to hire them. Greta Schulz is president of Schulz Business a sales consulting and training firm. She is a best-selling author of To Sell is NOT to Sell and works with Fortune 1 000 companies and entrepreneurs. For more information or free sales tips go to and sign up for GretaNomics a weekly video tip series or email sales questions to greta 88 NOVEMBER 2015 OMG... STOP WASTING TIME... Loan Login Investment Login Bank Login Credit Card Login View all your accounts in one place with Free Financial Tools One Secure Log-in Manage Budgets Monitor Cash Flow Try today for FREE and be entered into our sweepstakes presented by Sweepstakes ends December 22 2015. See official rules for details. NOVEMBER 2015 89 BEHIND THE MIC Time for Mixed Housing Concept provides affordability in urban settings helps cut traffic BY JIM FRIED Last month on our show Pinnacle Housing Group s partner Michael Wohl talked about the evolution of affordable housing and how Pinnacle is building Miami s first mixed housing project Brickell View Terrace. It is called mixed because it brings different renters at different income levels together in a single project. The 23-story development consists of 100 affordable housing units 76 market rate units and about 7 300 square feet of ground-floor retail. The pricing options amenities and location next to the Brickell Metrorail station should make the property attractive to millennials Michael says. Brickell View Terrace The amenities include a barbecue area with outdoor gaming tables a linear park a fitness center a computer room a community room a gazebo and car charging stations. Michael also makes sure he places beautiful art in public places to enhance the living environment of his projects. Michael says significantly increasing project costs and land costs make it more difficult to build housing that s affordable for Miami s residents. He pointed to the run-up in land prices in some of Miami s best neighborhoods. This increase is pricing out local workers and as a result more workers live in the suburbs. This puts them on our roads for longer commutes which increases traffic and has other negative impacts for community. Michael believes that his mixed-income housing projects will help Miami not only put a dent in its traffic problem but also help us get to know one another a little better. He thinks that will make Miami a better place for all of us to live. Also this month we dove into cybersecurity with financial technology expert Jim Angleton president of Aegis FinServ Corp. Jim focuses on making sure our financial system is secure. We discussed the deep Web the dark Web and other places where hackers lurk. We also talked about ransomware malicious software that gets into your computer locks it down and won t open it up unless you pay the hacker a steep price. Jim recommend using complex randomly generated passwords and to change them regularly. He also reinforced the rule that you never click on emails or answer phone calls that you don t recognize. Also on the show was Steven Moreira CCIM CIPS the incoming president of the CCIM (Certified Commercial Investment Member) Institute. His focus is to build the CCIM brand as well as create value adds for his members. Steve gets to travel the country and see what is hot and what is not. He told our audience that CCIMs get a bigger share of the market than their competitors because of the skills they are taught through the CCIM certification process and the referrals they get from the CCIM network of brokers. CCIMs share leads and ideas. Steve said we are reaching the top of the cycle in many markets but that there are still many good opportunities out there particularly in retail and apartments. A final note This month our show is celebrating its sixyear anniversary. We have done over 330 episodes. I want to take this opportunity to thank all of our listeners sponsors and supporters. To listen to these and other interviews go to our website We interview thought leaders every Thursday from 6 to 7 p.m. on 880 AM. Listen live by visiting jimlive. 90 NOVEMBER 2015 TICKETS ON SALE SOBEFEST.COM 877.762.3933 IN OCTOBER FEBRUARY 24-28 2016 FEATURING GIADA DE LAURENTIIS GUY FIERI BOBBY FLAY TYLER FLORENCE ROBERT IRVINE EMERIL LAGASSE MASAHARU MORIMOTO RACHAEL RAY MARCUS SAMUELSSON TASTE FORT LAUDERDALE SERIES & MANY MORE TITLE PRESENTING BENEFITING HOSTED BY HOST HOTEL OFFICIAL AIRLINE Chaplin School of Hospitality & Tourism Management PLATINUM SPECIAL THANKS 2015 PEOPLE PASSION AND PROFITS The Trust Advantage BY STEVE GARBER Your secret sauce has one massively important ingredient trust. As Stephen M. R. Covey says Trust is the glue of life. It s the most essential ingredient in effective communication. It s the foundational principle that holds all relationships. Why is trust so important in business One of our foundational principles at Third Level is that people do more and better business with you if they know like and trust you. That applies both in the market and within your organization. Trust is a major consideration with skeptical millennials who want to have a sense of purpose about where they work and who they do business with. Through developing trusting relationships You will attract and retain better people to work with and for you. You will spend less time and money acquiring clients. You will gain a larger share of your clients business. You can charge a premium for your services. You will sleep better at night. Forbes and Deutsche Bank each have produced the Most Trustworthy Companies list for the past six years. They examine over 8 000 firms traded on U . S . stock exchanges using forensic accounting measures. The research shows The cost of capital of the most trustworthy companies is lower these companies outperform their peers over the long run and their risk of negative events is minimized. So how do we build trust In my 30 years in coaching and consulting I have learned that there are three important things that build trust reliability consistency and authenticity. Some behavioral guidelines that our own anecdotal research has revealed 1. Make your deeds as powerful as your words. Keep your commitments. Say what you will do and do what you say you will. People will trust you when you follow through. Watch for the good intention mindset trap What we see as our own good intentions when we fail to deliver we usually see as untrustworthy behavior in others. Remember that we are the others in those situations. 2. Own your mistakes without excuse or blame. People are generally forgiving when you apologize explain and offer a new plan and or compensation for the problem. Counterintuitively being vulnerable and taking responsibility for your mistakes or failures builds trust. 3. Listen more than you speak. Tell people what you ve heard from them. People love to be regarded respected and heard. It is also amazing what you learn when you repeat back to people what they ve said. They might correct you and you will thus learn more. Or they will tell you more. They might simply affirm that you heard them well. Regardless of which of these outcomes you experience you will learn more and deepen rapport. Less noise more connection. More connection more trust. Building trust builds teams betters businesses and improves profits. It also brings deeper satisfaction. That is the trust advantage. Steve Garber is director of Third Level Ltd. Contact him at 561.752.5505 or sgarber 92 NOVEMBER 2015 EXCELLENCE IN HUMAN RESOURCE AWARDS 2016 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 Brought to you by Presenting Sponsor Delivering Talent. Impacting Results. JOIN US AS WE CELEBRATE THE 2016 HONOREES Date Thursday February 25th 2016 Time 5 30 PM Where The Venue 2345 Wilton Drive Fort Lauderdale FL 33305 Price 150 per ticket The evening will feature a celebratory reception inclusive of cocktails and hors d oeuvres followed by our awards program. To submit a nomination purchase tickets or for more information please visit http hr . Silver Sponsors THE FAMILY OFFICE Magnanimous Millennials The millennial population has slightly surpassed the over 73 million baby boomer population and stands to inherit 40 trillion over the next 40 years. Given the potential trillions that will transfer the wealth management industry is actively researching this important demographic cohort. Various studies describe millennials as a future-oriented group with a strong sense of familial and social responsibility. Similarly wealthy millennials possess interesting attributes which we will further explore in this column. The 2008 global financial market crisis may explain millennials tendency toward a more conservative investing style. According to a Merrill Lynch study millennials are more self-directed investors who are skeptical and equate financial advisors with salesmen. Further Brookings Institution research concluded that most millennials would rather go to the dentist than listen to what bankers are saying. Studies indicate that millennials do seek guidance and they will look to spouses parents and friends for financial advice. A UBS study concluded that money does matter to this group as 4 out of 5 millennials believe that money can buy happiness however their tendency is not to chase higher returns nor try to outperform the market. Entrepreneurship and an innovative and inventive spirit characterize this youthful group. A record 46 millennials joined the recent Forbes annual billionaires list including Evan Spiegel 25 the 1.5 billion founder of Snapchat Elizabeth Holmes 31 the 4.5 billion founder of Theranos and Mark Zuckerberg 31 the 41.6 billion founder of Facebook. It may be no surprise that this generation has strong tendencies to focus on personal success. The use of wealth for social good is a millennial propensity as cited in a Spectrum study. Impact philanthropy and social responsibility are driving forces typical in the millennial mindset which has enabled considerable growth and innovation in alternate forms of charitable giving. Interestingly this outlook translates into consumer behavior. A Brooking Institution report concluded that 84 percent of millennials purchasing decisions were influenced by a company s involvement in social causes. Millennials with inherited wealth tend to be more anxious around their stewardship role in sustaining family wealth. Many are the progeny of larger-than-life parent personalities and wealth creators who worry that they will not live up to their parents expectations. Conversely the older generation worries that providing too much information regarding the family wealth will de-motivate the younger generation. A Fidelity study concluded that 67 percent of millennial families have not had estate planning discussions with parents. This lack of communication and information sharing can lead to disastrous financial consequences. Many millennial studies conclude that this demographic worries about aging (baby boomer) parents and assumes they will provide for their care in later years. Additionally millennials have concerns regarding their parents financial situations and the ability for wealth to sustain them. The ability to bridge the apparent communication gap between the millennials and their parents can lead to enhanced family relationships today and enable better odds of intergenerational wealth transfer success. Family offices can initiate organize and support these important conversations incorporating them with the other wealth management activities of the family. We will explore communication strategies in a future column. Julie Neitzel is a partner and advisor with WE Family Offices in Miami and a board member of the Miami Finance Forum. Contact her at Julie.Neitzel or 94 NOVEMBER 2015 Build your career with a company focused on success. Yours. At Northwestern Mutual partnership is fundamental to personal and financial success. As a financial representative you ll get a balance of disciplined guidance with the freedom to build your practice and take advantage of virtually unlimited growth potential. Who s helping you build your financial future M. Kevin Lawhon CLU Managing Partner (954) 717-5718 05-3061 2015 Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company Milwaukee WI (NM) (life and disability insurance annuities) and its subsidiaries. Northwestern Mutual Investment Services LLC (NMIS) (securities) a subsidiary of NM broker-dealer registered investment adviser and member of FINRA and SIPC. Michael Kevin Lawhon General Agent(s) of NM. Managing Partners are not in legal partnership with each other NM or its affiliates. Michael Kevin Lawhon Registered Representative(s) and Investment Advisor Representative(s) of NMIS. NCAA is a trademark of the National Collegiate Athletic Association. NOVEMBER 2015 95 THE COMPETITIVE EDGE Mindful Millennials BY LINDA JANASZ As millennials begin and progress in their careers we are says. I knew how dangerous not dealing with stress can be and I witnessing a shift in values. If boomers celebrated sex drugs knew I would be happier and more successful with stable mindset. and rock n roll this generation embraces well-being purpose The MMM Workshop (Mindfulness Meditation and Movement Training) helped me create a better relationship with my thoughts. financial security and mindfulness. Shaped by technology and social media millennial multitaskers Now I meditate daily taking a moment every morning to be quiet are ultra-connected struggling with college debt and increased and grateful. Mindfulness has allowed me to notice this amazing costs of living. Technology may have transformed relationships world and to take less for granted. Like many other millennials that I counsel Barredo says that and collaboration but omnipresent distraction can also produce the practice of meditation has also has helped him put things dangerous side effects. Neuroscience has discovered that not unlike a computer our into perspective. I am more peaceful and positive and deal brains need to shut down occasionally in order to run optimally with stress better. Present awareness has also allowed me to or we continue to seek the next brain chemical dopamine fix. improve my business and drastically improve my focus and motivation. I think mindfulness Millennials are increasingly is essential for everyone recognizing the importance of especially young professionals mindfulness and meditation as who have so much pressure tools for self-management. to be successful he says Millennials who saw parents pausing to add I was once working at jobs they did not like The Pew Research Center profiled roughly in a catastrophe mode. Now see working with purpose as their 50 million millennials and discovered that this I m much calmer and more path to living a life of meaning. positive. This also keeps me With a shift from materialism generation is more tolerant of a wide range of optimistic. People notice a to meaning MBGEnhance nontraditional behaviors than adults in other difference in me. a consulting firm examined generations. The report stated that 95 percent of As the practice of present 6 743 mindful millennials and millennials believed that stress was an important awareness and mindfulness discovered that almost 8 in 10 issue. One-quarter of adults under 30 say they meditation becomes mainstream meditate at least once a month. meditate on a weekly basis. millennials understand that The biggest reasons for meditating happiness and success also were It helps me function include well-being. Regardless better (98 percent) It makes of one s age these timeless me happier (98 percent) and It practices can improve our lives both professionally and personally. is a vital antidote to the stresses of everyday life (98 percent). To find out if you living the millennial mindset take the Pew Among millennials who meditate is Renzo Barredo. In 2010 at age 25 he went into the financial services industry Research Center questionnaire at quiz howas a way of making a difference in people s lives. Today millennial-are-you. this entrepreneur has a successful practice at MassMutual South Florida which has provided him the flexibility and Linda Janasz is a transformational coach trainer researcher independence to do what he feels is important spending time and Registered Yoga Teacher (RYT 200) and holds a Ph.D. with family personal time and community involvement (he is She developed and teaches a program called Mindfulness on the board of the Florida Initiative for Suicide Prevention his Meditation and Movement (MMM) Training that has helped best friend committed suicide). hundreds reduce stress increase productivity and discover I wasn t dealing well with stress or valuing myself and I meaning in an unbalanced world. For more information visit wanted to better manage the volatility of our business Barredo Millennial Tolerance 96 NOVEMBER 2015 A boutique wealth management firm with a team of skilled and experienced advisors with over 100 years of collective history in personal and business planning We work closely with you to design a comprehensive strategy to help secure and grow your assets support your lifestyle and navigate toward your legacy goals. We collaborate with you and your professional advisors to prioritize your personal goals and act as a concierge to objectively guide your entire team toward those goals. We employ low-risk tax-efficient investment strategies with your best interests in mind to optimize your portfolio tailored to your particular risk appetite. 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Suite 125-A Boca Raton FL 33431 Ph. 561.997.9100 Toll-Free 800.327.1055 Fax 866.206.2609 www.raym weidenfeld Investing involves risk you may incur a profit or a loss. No investment strategy can guarantee success. Raymond James & Associates Inc. Member New York Stock Exchange SIPC NOVEMBER 2015 97 HISTORY VIEWPOINT The Everglades An Economic Engine Tree islands and cabbage palms in the proposed Everglades National Park circa 1941 November marks the end of the wet season for the Florida Everglades which means that the months to come present great opportunity for visiting the largest subtropical wilderness in the United States. In 1906 the state of Florida initiated a campaign to drain the Everglades to burgeon real estate and tourism markets. Known as the Everglades Reclamation it was a catalyst for industrialism in South Florida. Many would say that land was sold by the gallon as buyers purchased huge properties that were still under water. Soon locals began to realize the need to preserve the Everglades and in 1923 Miami-based naturalists first proposed that the area become a national park. Everglades National Park was ultimately established in 1947 to conserve the natural flora and fauna of the region which soon became a popular destination for tourism. A study by the National Park Service showed that more than 1.1 million people visited Everglades National Park last year spending some 104 million in communities near the park and supporting 1 552 jobs in the local area. This led to a cumulative benefit of 155.54 million to the local economy. Information for this feature is courtesy of the HistoryMiami Archives & Research Center which is open to the public and contains more than 1.1 million images of Southeast Florida the entire state and the Caribbean from 1883 to the present. For more information visit (Image 1996918-3.) 98 NOVEMBER 2015 MAKE EVERY DAY A VACATION. 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