A niche in commercial real estate market
Michael J. Brown is senior vice president of Colliers International South Florida's Healthcare Services Group and director on the national steering committee of Colliers Global Life Sciences Practice Group, in Boca Raton. The job is a unique blend of real estate, property management — and a knowledge of science and biomedical research and manufacturing facilities. Brown was previously national leasing director at Wexford Science & Technology before joining Colliers in 2016 as senior vice president in Philadelphia, before transferring to South Florida in May. As an industry veteran, Brown is familiar with both large and small molecule research and manufacturing plants as well as medical device manufacturing, he says.
Why my job is important: Most of the facilities that our local team focuses on have very special infrastructure improvements and are FDA regulated and inspected on a regular basis. It’s important for us to remain educated on the systems and processes that are reviewed by the FDA inside these clean environments. It is also critical to understand how our pharmaceutical, biotech and medical clients work and innovate within their facilities.
Strategies
What’s new: When I first started my career, most brokers and agents focused on buying and selling all types of real estate. Now, it's much more specialized and focused. This is the reason why I belong to the Colliers
Healthcare Services Group. It requires attention to regulations and continuing education on new products and construction techniques.
Professional development
After the first 20 years of my career, it occurred to me that focusing on a niche commercial real estate market might be the best way to approach my business. I joined a number of industry groups such as BIO International which gave me the opportunity to meet industry experts who were on the cutting edge of research. I also attended networking events and connected with pharmaceutical design and engineering firms. Now, I have expanded my niche beyond just research and life science manufacturing buildings to include Healthcare services.
Advice to young professionals: Become a CCIM broker. It's considered the MBA of the real estate world. It takes a lot of education and commitment, but it’s the ultimate certification.