Tammy Sassin has a tale of being told "no" a million times, but her perseverance led to getting the retail tenant she always wanted.
Her story starts with an empty Bank of America branch on McMullen Booth Road in Clearwater, Florida, in the Tampa Bay region. Even before the bank vacated the building several years ago, Sassin envisioned it as the perfect spot for a Starbucks Coffee shop, partly because it had enough room for a drive-thru, which was lacking in the neighborhood.
So Sassin, a broker at Isram Realty & Management of Hallandale Beach, Florida, called Starbucks and asked if the world's largest coffeehouse company would be interested in the building at Bayside Bridge Plaza.
To ensure that her request was heard, Sassin said she contacted Stanton Englander, owner of InSite Real Estate and a broker who represents Starbucks in the area, and Mike Paparella, a store development manager at Starbucks who oversees its company-owned real estate in central and north Florida.
"They told me no probably a million times," Sassin said in an interview. "They told me bank buildings are too expensive to convert to coffeehouses. They told me it’s cheaper to scrape it and build new."
But Sassin remained steadfast in her attempt to land Starbucks at the Publix-anchored Bayside Bridge Plaza, which Isram has owned since November 2012, according to CoStar records, for one main reason: It offered the opportunity for the drive-thru that Sassin said was missing in that part of Clearwater.
"I knew there was a gap for a drive-thru in the market. There were three Starbucks around here, and none of them originally had a drive-thru," she said. "I just kept calling."
Starbuck's recent strategy shift to focus on stores with drive-thrus likely helped Sassin's case, especially as people preferred staying in their cars when picking up their morning pick-me-up.
"One day it just became compelling to them," Sassin said of the potential location at Isram's shopping center. "They recognized they needed a drive-thru. It’s like when a guy asks a girl out and she says no but he keeps asking. One day they say 'Yes!' "
But even then it wasn't a slam dunk.
"The deal probably died three times along the way," Sassin said. "It took a very long time to complete the lease with Starbucks. They’re just hard deals to get done."
Starbucks and Isram eventually reached agreement, and the coffee company is building out the space. Starbucks committed to a three-year lease for the 3,500-square-foot building, according to CoStar.
Sassin said it is expected to open in a couple of weeks. "I’m going to pass two other Starbucks to get my coffee" at the store she made happen, Sassin said.
Other brokers in similar situations should be persistent and not take an initial no for an answer, Sassin said. "If you’re sold on the site, you have to create enthusiasm about it," Sassin said. "Just don’t give up if you really believe in it."
Sassin developed her love of the real estate business from her dad, Milford Inganamort, who did condo conversions in New Jersey and New York before moving to Sarasota, Florida, where he's a broker, too.
It also helped that she knew her market inside and out and therefore saw the need, even before the company might have, she said.
"Know what the gaps are in your market," she said.
Earlier this week, Sassin proudly posted a photo of the new Clearwater Starbucks on her LinkedIn and Twitter accounts. "My gut was screaming STRBX for this site in Clearwater, Fl.," she wrote in the posts. "I'm sure Stanton Englander got tired of hearing from me but he was professional, patient and polite."
For his part, Englander applauded Sassin's tenacity.
"Great lesson Tammy. Not only in business but in life," Englander wrote in a response to her LinkedIn post. "Thank you for being persistent."
Atlanta's Meadows & Ohly Hires Senior Vice President
Brandon Wallace has joined Atlanta-based Meadows & Ohly as a senior vice president.
In his new role, Wallace will lead the health care real estate and advisory services company's brokerage services business unit, including planning, management, capitalization, development, landlord and tenant representation and lease administration.
Wallace brings more than 21 years of experience providing health care real estate services to health systems, physician groups and real estate investment trusts, most recently as a senior director with the healthcare practice group at Cushman & Wakefield. Before that, he worked at Wallace Property Group and CBRE, according to his LinkedIn profile.
Pembrook Capital Management Adds Analyst in New York
Nigel Henry has joined Pembrook Capital Management as an analyst in New York City.
In his new role, Henry will provide analytical support for the asset management and underwriting teams at Pembrook, an investment manager and bridge lender in the affordable housing sector.
Henry brings years of experience in research and analytics, including the past three years as a financial data analyst with Parkchester Preservation Management in the Bronx, where he managed capital projects and conducted asset management reviews on budget performance, vacancy projection, risk exposure, insurance liability and other market comparisons. Before that, he held a similar role with Tenant-U Services in Delaware.
Thalhimer Expands Richmond Industrial Brokerage Group
Cushman & Wakefield | Thalhimer has hired Craig Douglas in Richmond, Virginia.
In his new role, Douglas will focus on industrial sales and leasing with the firm's commercial brokerage group.
Douglas most recently served as a residential property manager at Dodson Property Management, where he managed homeowner associations and multifamily properties.
Did You Hear? is a national column focusing on real estate's movers and shakers compiled daily by Tony Wilbert and Justin Sumner. Send new executive hires and promotion announcements to news@costar.com.
