Miami commerical developers: video chats, planning and stress relief rule the day
In the face of coronavirus, many companies are seeing their first real test of working virtually. That includes South Florida commercial developers.
Like much of their staffs, CEOs are often working remotely, relying on the conference calls and video chats that have largely replaced in-person meetings. We asked three to describe their current work day, and got these reports from Malcolm Butters of Coconut Creek-based Butters Construction, Tony Cho of the Edgewater-based Metro 1 and Michael Mandich of the North Miami Beach-based Mandich Real Estate Advisors.
“It’s been manageable. Surprisingly,” Butters said.
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MALCOLM BUTTERS
Butters Construction President Malcolm Butters begins work at 8 a.m. with a call or video conferencing from his home office, then heads to his home gym for a 20-minute workout. He rarely leaves home unless he needs to deposit checks for staff.
“People adapted to technology [before COVID-19] and that’s allowed us to adapt well during this time,” he said.
Construction continues on the company’s industrial job sites and projects in the pipeline. Property managers are overseeing progress from home, and engineers are driving by sites daily.
But new development is on hold, he said — bolstering his decision to trim his team from 50 to 48.
“It was a good time to make changes to personnel,” Butter said. “It wasn’t only’ because of COVID-19.”
The firm plans to maintain the rest of its staff and has not had to cut salaries, Butters said.
The firm’s hotels have been the hardest hit, Butters said. They include two in Coconut Creek, a Hampton Inn and a Marriott Residences. The Hampton Inn temporarily closed, he said, after hotel occupancy rates dropped to about 10% and into the single digits.
TONY CHO
Metro-1 President and CEO Tony Cho starts his day with meditation, breathing exercises and journaling before taking an hour-long walk or swim at his Sebastian getaway.
“We’re out in nature, where there are less distractions and I can focus better,” he wrote by email.
His retreat has proven to be a productive environment, he said. He has a laptop, desktop, iPad, water bottle, iPhone and “whiteboards for ideas,” he wrote.
Metro 1 is focused on promoting small businesses in the neighborhoods where he works, primarily Wynwood and LIttle Haiti, with social media campaigns and relief funds.
“We are also focused on the future and how we can be part of the revitalization of our communities once we get past the initial shock of the virus. It is our hope that the businesses that we helped bring to shape the neighborhoods and communities we are part of will be able to return, and that new businesses and entrepreneurs that will arise from this situation will be part of the new invigorated communities,” he wrote.
MICHAEL MANDICH
Michael Mandich is still working from the company office of Mandich Real Estate Advisers, the property management and development firm where he is managing partner. Because his company oversees cold storage facilities for food distributors, it is considered “essential,” Mandich wrote by email.
He rises early to read the news, exercise, address clients’ time-sensitive needs. When his young children start school-related video chats at 8:20 a.m., he heads to the office with his son, wife, brothers and sisters-in-law.
“We are working on ensuring our properties are well maintained, communicate any governmental changes that could affect our people or partners and we are prioritizing our current tenants and their businesses,” Mandich wrote.
“We are not on hold with any future projects but we have managed our expectations that discussions may be delayed due to governmental shutdowns, lack of travel and financial institutions being extremely busy on more immediate challenges.”
This story was originally published March 25, 2020 at 12:00 AM.
