After 25 years of serving clients from global commercial real estate platforms, Brandi Sikes, MCR, CRE founded Limestone Commercial Real Estate with a singular focus on serving clients at her highest and best. Throughout her career, Brandi has been involved in the sourcing, negotiating and executing of over $2.7 billion and 13.2 million square feet of commercial transactions. With extensive HQ experience and a passion for start-ups, Brandi leverages proven practices and transaction acumen to empower her clients through complex commercial real estate decisions. Accredited with unrivaled work ethic and creativity, she is energized by serving her clients in excellence.
Brandi Sikes – LinkedIn: https://www.linkedin.com/in/brandimcdonaldsikes/
In our first episode, Brandi and I delved into her multifaceted role as a commercial realtor. It’s a common misconception that a realtor’s job is simply to buy and sell properties. However, Brandi’s approach is much more nuanced. She positions herself not just as a broker but as an advisor, helping businesses align their real estate decisions with their overall strategic goals.
One of the key takeaways from this episode was the importance of understanding the culture and vision of a business. Brandi emphasized that a successful real estate transaction begins with a deep understanding of the client’s needs, both current and future. This involves engaging with various stakeholders within the company to uncover potential roadblocks and opportunities that might not be immediately apparent.
Brandi shared a compelling case study of how she helped a company identify their unique needs and align their real estate strategy accordingly. This process involved building a diverse team of decision-makers, conducting thorough analyses, and preparing for board presentations. The outcome was not just a new headquarters but a space that truly supported the company’s culture and growth trajectory.
The second episode was dedicated to exploring two cautionary tales from Brandi’s extensive career. These stories highlighted the potential pitfalls of real estate decisions and underscored the importance of strategic planning and expert guidance.
The first tale involved a fast-paced startup that, in its eagerness to expand, made hasty real estate decisions. They aimed to open multiple offices in various markets without fully understanding the financial and logistical implications. The result was a significant financial strain as they found themselves paying exorbitant rents for spaces they couldn’t fully utilize. Brandi’s intervention helped them navigate out of this crisis by renegotiating leases and downsizing their space needs, but it served as a powerful reminder of the risks associated with rapid, unplanned expansion.
The second story focused on a mature company that preferred signing short-term leases to maintain flexibility. However, this strategy backfired as the company found itself with little leverage during negotiations, leading to higher rents and reduced bargaining power. Brandi’s solution involved advising the company to consider longer-term leases that balanced flexibility with financial stability, ultimately helping them achieve better terms and lower costs.
These cautionary tales emphasized the importance of having a seasoned professional guide businesses through the complexities of real estate transactions. Whether dealing with a startup or a mature company, Brandi’s ability to foresee potential issues and navigate them effectively was a testament to her expertise.
In our final episode, we discussed the crucial step of securing board approval for major real estate decisions. This process requires meticulous preparation, clear communication, and an in-depth understanding of the company’s financial and strategic objectives.
Brandi shared her experience of presenting a multimillion-dollar headquarters project to a company’s board. She detailed the extensive preparation involved, including building a comprehensive slide deck with both essential and supplementary information to address any potential questions. This level of preparedness not only demonstrated her professionalism but also instilled confidence in the board members.
Despite the thorough preparation, the project was not immediately greenlit. The board requested further information and analysis, highlighting the importance of patience and persistence in such high-stakes scenarios. Brandi’s ability to adapt, provide additional data, and continue advocating for the project eventually led to its approval. This experience underscored the necessity of aligning real estate decisions with broader business goals and being ready to iterate on proposals to meet stakeholders’ expectations.
Brandi’s story about presenting to the board also illustrated the significance of timing in real estate decisions. Starting the project planning four to five years in advance was crucial to ensure smooth execution and alignment with the company’s lease expiration and market conditions.