The Leader - January/February 2008 - (Page 58) sU z a N N e h eide lBe rG e r: le adi NG re al e s tate at s kadde N FIG. 1 skaddeN at a GlaNce employees: 5,000 (including 450 Partners and 2,000 attorneys) real estate portfolio: 2.5 million sq. ft. (232,200 sq. m.) across 24 locations, all of which is leased in-house real estate staff: 8 technology, we’re getting the message across that we don’t have to physically be here all the time,” she says. keys to success Besides offering flexibility, keys to success include “knowing what you have, and knowing what you want,” she says. “You have to stay up-to-date in terms of market activity and be ready to seize opportunities. “We have to provide informed, wellresearched decisions on a day-to-day basis in response to a changing environment, developing strategic plans for each location and the portfolio. To do this, we apply financial analysis principles to the corporate real estate process,” she summarizes. “We have a portfolio of assets to be managed and maximized. Also, it’s key to communicate, communicate, communicate.” career path, coreNet Global connections Heidelberger has been active in CoreNet Global for years. She’s the immediate Past President of the New York City Chapter and currently serves on the association’s Chapter Learning Advisory Committee as well as the global Board of Directors. Heidelberger grew up in Long Island, N.Y., but became a world traveler at a young age. “My dad was an architect, and we traveled,” she recalls. “For example, we lived in Egypt and South Africa. Those were excellent experiences. But it was a big change, going overseas and then coming back.” After high school, she attended the School of Hotel Administration at Cornell University. “I wanted to develop hotels, but I graduated when there was nothing being built. We were in a recession. So I went to work in Texas for the only hotel company in the United States that was still building. They put me in the sales and “Our goal is to align the real estate considerations with the strategic focus of the firm, provide the legal practice groups with the required space and functionality, and maximize value per square foot.” Costs are always important. “Every capital expenditure dollar comes directly out of the partners’ pockets, so when they come into a space, it’s their space. They take ownership of it. The workspace is a real manifestation of the firm’s image that’s provided to clients and recruits. It’s personal.” Skadden is growing, and the need for flexibility in real estate is a particular challenge. “For example, at any time we could have a case now that will involve hiring 100 staff attorneys,” Heidelberger reveals. “Would we try to house them in existing space? Would we get temporary space? We have to build in flexibility up front and be able to accommodate many different scenarios down the road.” A new initiative is introducing remote working to the more traditional culture of a top-tier law firm. “By leveraging marketing group, which wasn’t a good fit for my personality. My academic concentration was in real estate and finance and I really liked the analytical side of things.” After shifting gears to begin a career in the real estate appraisal field, she moved back to New York. “I went to work for a New York City appraisal firm applying a lot of the skills I learned through MAI courses, in college, and in the hotel sales and marketing program. I enjoyed doing complicated cash flow valuations for New York City real estate.” From there she went to Ernst & Young, working in the Real Estate and Business Consulting Group. “I worked on both real estate consulting and business valuation projects, valuing large real estate portfolios and private companies, which were very interesting,” she recalls. From there, she joined Apollo Real Estate Advisors, a hedge fund company. “I worked on investments and fund management, including investor and financial reporting. It broadened my experience in structuring deals, but it took me very far away from the bricks and mortar, which is what I really enjoy.” It was then that Heidelberger decided to scale Mount Kilimanjaro. Following her return to the United States, Heidelberger accepted an offer to work in corporate real estate at J.P. Morgan. “In 2001, I decided I was ready to go on to the next step,” she recalls. The next step, as it turned out, was to join Skadden to build and lead a new corporate real estate organization. “It’s been a very satisfying process,” she concludes. “And it’s been a lot of fun. If you make a good deal in lease negotiations, you reap the benefits. If you don’t, you deal with the nightmares. I think this structure makes you work really hard.” 2 0 0 8 the le ade r 58 J aN Ua rY / F e B rUa r Y
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