Legacies in CRE: Steve Wellington Joined Panel
Steve Wellington, founder and CEO of Wellington Management, Inc. (WMI), joined Jean Kane, William Wardwell, and Jonathan Yanta at MNCAR’s Twin Cities Legacies in CRE event on September 30th. Moderators, panelists, and the audience discussed the merits of leaning into change, making genuine connections, and embracing new technologies.
Steve spoke briefly about his 40-year background in commercial real estate (CRE) and said the ability to involve WMI in nonprofit work is something he is very proud of, commenting that giving back to the community “makes you a more effective and well-rounded individual.”
An audience member asked the panel to give advice for young professionals just getting into the industry. Steve touched on the obligations that supervisors have in enabling young professionals to gain confidence in a wide variety of skills, and he emphasized the value in not specializing too early. He cited WMI’s leasing agent & property manager Ashley Urlick as a prime example of this mentality. Ashley began her career with Wellington Management in 2017 working in the customer service department. Since 2017, Ashley has become the manager and leasing specialist for over 10 WMI properties.
WMI has always strived to provide stellar customer service, and Steve acknowledged that this cornerstone of the company has made all the difference when mitigating the challenges of owning and managing properties. Steve said he has had great luck in finding passionate, competent people to join the team. One such person, he said, is Judy Olson. Judy has been with the company for 18 years, and Steve talked fondly about her warmth, intelligence, and persistence in her current role at the front desk, appreciating her dedication to the company and great work over the years.
When asked about policy changes that impact CRE and changes in the industry, Steve said that it’s all navigable with a team that’s light on their feet and optimistic about the future. Regardless of the changes in tax codes and dips in different sectors of the market, he said that optimism, diligence, and an analytical mindset will lead to the right opportunities. “People are the whole deal,” Steve said, and Wellington Management keeps that sentiment at the heart of everything we do.
Wellington Management is coming up on our 41-year anniversary in December. What started in Steve’s basement in 1984 has since grown to a company supporting 45+ employees, over 5-million square feet of commercial space throughout the Twin Cities area, and 59 individual investors.
