As an African-American, J. R. Foster, a 15-year commercial real estate veteran, found the lack of diversity in his industry particularly striking. After all, in a constantly changing global marketplace, many industry sectors consider corporate diversity to be a business advantage.
"Corporations are spending a great deal of money with minority- and women-owned businesses, but there is virtually zero spent in the corporate real estate space. There are very few minorities who go out and form their own companies after growing their knowledge base," says Foster, who's spent much of his career at
Jones Lang LaSalle (formally The Staubach Company), Lehman Brothers and JP Morgan.
That's why Foster went out on his own and co-founded
Robert Louis Group earlier this year. The firm is one of the only Minority Business Enterprise (MBE) certified commercial real estate firms in the country.
Foster's background includes corporate real estate leasing assignments, sales, acquisition, financing and M&A transactions. The company has a working partnership with
Colliers International to provide its clients services globally.
Foster and his co-founder David Hornberger are working with independent real estate contractors and are in the process of growing their leadership team.
Just as corporations depend on diversity in hires and suppliers to grow their businesses, Foster believes diversity in commercial real estate can help companies reach an increasingly diverse consumers base.
The firm offers brokerage, marketing, financing, property management and other services.
"We're not only focused on real estate, but the way our clients do businesses. We take into account the design of space, strategic locations and business objectives," Foster says.
By Feoshia H. Davis