For 15 Years United Commercial Realty has remained a key playerin the development of the city’s retail centers – and is grooming thenext generation of partners
Tom Sineni isn’t pessimistic about thecurrent mortgage crisis and its impact onthe economy. He’s lived through this beforeduring the 1980s, when the real estatebrokerage firm he worked for took a directhit.
But even back then, Tom and his wife,Guyla Sineni, and partner, Mike Gribble,remained steadfast and found a solution totheir problem of drumming up business at atime when other real estate brokerage firmscut their losses and closed shop.
“Nineteen eighty–seven was the worst.It started in Texas and then rolled over toCalifornia, Arizona and the East Coast,”says Tom, president of United CommercialRealty San Antonio. “We were struggling,but we figured out there was still a way to sellproperty. So we aligned with people who hadmoney and wanted bargain basement prices,and we found bargain basement propertiesfor them. We did quite well while a lot ofpeople moved away.”
In August 1993, Tom, Guyla and Gribbleestablished their own business and becamethe principal founders of UCR San Antonio.Today, it is one of the top, full–servicecommercial real estate brokerage firmsin town and recently celebrated its 15thanniversary.
UCR – a member of ChainLinks RetailAdvisors, a leading retail–only, real estateservices and commercial property brokerageorganization that serves the nation’s premierretailers, landlords and investors – specializesin property and tenant representation.
Regarding property representation, UCRhas been key in the ground–up developmentand leasing of some of San Antonio’s majorretail power centers: Huebner Oaks ShoppingCenter, The Forum at Olympia Parkway, LaPlaza del Norte Shopping Center and AlamoRanch Shopping Center.
“We brought the first lifestyle shoppingcenter to San Antonio at Huebner Oaks,” Tomsays. “People credit Guyla for inventing theterm ‘lifestyle center.’ Our name is quietlyon a lot of major San Antonio properties,which is close to 4 million–square–feet ofretail. We’re known for retail, but at the sametime we sell a lot of land to developers forindustrial, office and apartments. And we sellincome–producing properties.”
Tom and partner Charles Hoyer haveteamed up on the sales of more than $50million worth of land in WestPointe at Loop410 and Highway 151. UCR is currentlyworking with Dallas–based Archon Group,the real estate arm of Goldman Sachs, whichacquired over 100 acres of land to developthe 900,000–square–foot Alamo Ranch, Loop1604 at Culebra and Highway 151.
UCR has represented landowners anddevelopers of some of the most prominentshopping centers – The Forum, Crossroads,Brooks Corner, Alamo Ranch and WestoverMarket Place – that have Target storesas an anchor along with other majornational retailers. Its approach to tenantrepresentation involves leveraging ofrelationships with landlords, developersand owners, as well as negotiating the bestpossible lease or sale, Tom says.
True to its word of going the extra mileto provide exceptional service, UCR investsheavily in the research of demographics andmapping of almost every square inch of SanAntonio that lets developers and retailersknow everything from the median householdincome to traffic volume to roads that areunder construction in a particular area.
“The type of support that UCR providesfrom mapping and GIS and research isexpensive. UCR absorbs that cost, and itisn’t passed on to clients,” says Mike Cruz,a partner and director of Research andMapping. “It helps us ensure that we’re givingan accurate view of a site that clients mightnot be familiar with. A lot of clients knowtheir criteria, what they’re expecting andwhat they need to see in a market to locatethere, so we help them find the perfect site.
“If you give us a block, we can generallytell you what the area resident’s averagehousehold income and size is, as well as theirbuying habits. There isn’t an inch of SanAntonio we don’t understand because westudy it everyday.”
Because UCR is deeply involved in“selling the heart and soul of the city,” thecompany president – who raised $157,000in scholarship money as Fiesta’s El Rey Feoin 2004 – says UCR is obligated to give backto the community. Staff participates in localclean–up projects and volunteers with Habitatfor Humanity, among other charitable work.
And just as UCR goes beyond the callof duty to accommodate its clients, thecompany also is keen on taking care of its 30employees, whether it be paying tuition forcollege courses or promoting them to partnerwhen the right is earned
“We have seven partners, and it’s beenthrough internal promotion,” Tom says.“These are people who have progressed withus, shown loyalty and are particularly goodat what they do. At law firms, you only seelawyers becoming partners, but at our firmadministrative staff can also become partnersbecause they’re important to the overalloperation of the company.” For instance,Tawnya Etzel, vice president administration,is a partner.
Executive assistant Tracy Mowder hasworked for UCR for five years and saysthat her colleagues and work environmentare what keep her from returning home toVirginia. “We’re like one big family,” she says.“Everyone gets along and helps each otherout if someone needs it.”
When important hiring decisions needto be made, all partners have input. “We’revery selective about who we bring in to workwith us,” Tom says. “We have a policy whereno new broker joins the company unless allpartners agree.”
UCR also has a Broker Intern Program inwhich junior brokers shadow veteran brokersfor two years upon joining the company tohelp them gain a solid understanding andexperience in commercial real estate. CraigGaransuay, vice president and partner,mentors two younger brokers. Not only arethey learning the business, but they havehelped Garansuay become more productive.
“They get to work on national accountsunder a senior broker, putting packagestogether, attending meetings and going onsite tours” Garansuay says. “It’s great to seethem grow and help lead them to the pathwhere they can be successful and become anasset to the company.”
Garansuay recently was recognized as oneof the San Antonio Business Journal’s “40Under 40 Risings Stars.” He and Cruz are twoof the company’s new generation of partnerswho will help lead UCR into the future.
As the nation’s economy has beenweakened by the ongoing financial crisis,real estate transactions have slowed aroundthe country. UCR, however, has maintainedsteady business, which Guyla credits to thefounding principals having had experiencedturmoil before, and their preparedness in casethe market takes a nosedive.
“The founding partners have all beenthrough the ‘80s, and we understandwhat to do in a flat period of growth likewe are today,” says Guyla, executive vicepresident. “The first step is being in constantcommunication. We know we have toget really close to our clients whether it’slandlords, retailers or land owners to makesure we know where they want to go and givethem sound advice.”
As people drive around the city, they mighthave noticed the company’s green signs withthe UCR logo on dozens of commercial realestate properties. Those billboards serve as aneffective advertising tool.
“San Antonio is doing better than mostparts of the country,” Tom says. “We still havea lot of new tenants calling in after seeing oursigns.”
