The Leader - January/February 2009 - (Page 66)

by Megan McCann y oung l e a d er Peter Stein, Vice President, Fox rPM Fox rPM’s Peter Stein: not the tyPical career Path to corPorate real eState For Peter Stein, Vice President of Fox RPM, the path to real estate has not been a direct route. He began his career as a mechanical engineer and worked with Accenture as an IT consultant before going to business school. After business school, he worked in project management for a high tech start-up company. That position led him to co-found his own start-up, where he enjoyed reasonable success and growth. But by 2005, he wanted a new opportunity, and he found it at Fox RPM. He was hired by Fox to inject some technology into the business offerings for the company’s clients, as well as into operational efficiency platforms inside Fox RPM. And that was his introduction into the world of corporate real estate (CRE) and facilities services. His responsibilities at Fox have included developing a business plan to accommodate growth in the company’s Washington, D.C. office, launching the FoxFMSSM Space Management platform and cultivating and maintaining strategic relationships in the industry. He says he finds the real estate and facilities management world challenging, but positively so. “In high tech you have something everyone needs, they just don’t know it,” he explains. “In this world of facilities management, everyone knows they need project management. The challenge is differentiating yourself so they pick your firm.” While Fox began as a relocation management company, the company has expanded to become an owner’s representative firm offering overall project management, construction management, space planning and design, and furniture management. In November 2008, Stein was named Vice President for the company. In his expanded role, he ensures that Fox’s clients receive the highest level of service and is responsible for further expanding the technological sophistication of the company. He develops strategic relationships with partner companies to offer a more streamlined experience to clients. In addition, Stein assists in the expansion of Fox’s professional development and training program to maintain a high-quality workforce. He gives credit to CoreNet Global for his speedy understanding of the industry. “Even in these tough times, the knowledge gained through my experience with the Young Leader chapter group, and my attendance at CoreNet Global national events has been invaluable.” Stein is also enthusiastic about the people he has met through the organization’s events. “My participation in CoreNet Global has really afforded me the opportunity to rub elbows with those in the industry that I certainly would not have had the opportunity to meet,” he says. And, after speaking with colleagues and acquaintances about the program, Stein has decided to pursue his Master of Corporate Real Estate (MCR) certification through CoreNet Global. “The value of the MCR is not just in the intrinsic nature of the educational component, but it is very beneficial from the perspective of sharing experiences and creating good relationships,” he says. For Stein and probably the rest of the world, the most worrisome part of the economic crisis is the element of uncertainty with regard to the duration and depth of the U.S. recession. But he says his company is being careful and cautious about expenditures and strategies during this time. “Some of our long-standing clients had begun to whittle back some time ago, which actually gave us the insight early enough to start working smarter for ’09 and beyond,” he says. “We are trying to be smarter about the way we engage various markets in this environment, looking for recession-proof industries.” His advice to newcomers to the corporate real estate job market is actually the same now as it was in times of economic abundance: “Network, network, network,” Stein advises. “Sitting back and sending out resumes and waiting for an answer is not going to be successful, but getting out there and meeting with people, showing how you stand out, is probably the most vital thing you can do.” On the other side of the coin, for a company looking for so-called A-players, he says this climate gives companies the opportunity to be more selective in whom they hire. “When we do come out of this recession, the companies with more of the best people will fare better in the long run,” he predicts. Stein lives in Needham, Mass., with his wife, 6-year-old daughter and 2-year-old identical twin boys. 2 0 0 9 th e le ade r 66 january / February

Table of Contents Feed for the Digital Edition of The Leader - January/February 2009

The Leader - January/February 2009 Contents Leadership Message from the CEO Real Estate in the News Mergers and Aquisitions Assessing Green Building Performance Measuring Space You Actually Use Global Trends in Sustainable Real Estate Whirlpool’s Lee Utke Northmarq’s Kevin Farrell Plastics: Hoping for Resiliency in Resins Regional Profile: Heartland Holding Strong Industry Profile: Ascendas Brings New Age Business Space to Asia-Pac Industry Tracker From the Applied Research Center Discovery Forum Findings Capital Corner Career Development Young Leader Economic Development in the News Learning Spotlight Connect With CoreNet Global Index of Advertisers A Look Ahead In our Next Issue Calendar of Seminars

The Leader - January/February 2009

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