February 18, 2014

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Salt Lake Area

February 18, 2014

Fraser Bullock Discusses “Big Picture” Questions

By Rachel Madison

Salt Lake City – When it comes to success in the technology world, it’s all about transformation. So says Fraser Bullock, co-founder and managing director at SORENSON CAPITAL.

Bullock spoke to a group of technology company executives during a UTAH TECHNOLOGY COUNCIL industry breakfast event about two “big picture” questions every company leader should ask. The first question was “What is your company’s next transformation?”

Bullock says he likes to take a step back and look at his company every six months to see if there has been a transformation. If there’s no fundamental shift, then something’s missing.

“When you focus on the day-to-day, sometimes you miss the big picture,” he says. “Transformations within a company add value.”

Bullock, who served as the COO, CFO, and later the president and CEO of the Salt Lake Organizing Committee for the Olympic Winter Games of 2002, relies on his Olympic experience to reiterate these thoughts.

“When Mitt [Romney] brought me on to the committee in 1999, Salt Lake was considered the bribery capital of the world because of bribery scandals that had taken place to bring the Olympics [to Utah],” Bullock says. “Mitt transformed Salt Lake by 2002. He changed the culture, made sure every penny mattered and focused on operational excellence. Now the 2002 Olympics are considered one of the most successful.”

Bullock says it was amazing to watch the media and the world’s perspective about Salt Lake City and Utah change after the 2002 Olympics because of the transformation the organizing committee had made.

The second question Bullock says company leaders need to ask is “How do I want to be remembered?

“I don’t mean after you die, I mean next year,” he says. “What’s your brand?”

Bullock says leaders need to ask themselves several questions to put things in perspective. These questions include: Am I a positive person? Am I fair or greedy? Am I generous? Am I an incessant talker or a careful listener? Am I a claimer of credit or a giver of credit? Am I consistently reliable or am I the guy no one can count on? Am I unfailingly kind?

Cushman & Wakefield/NorthMarq Acquires Commerce Real Estate Solutions

Salt Lake City – CUSHMAN & WAKEFIELD/NORTHMARQ (CWN), through its holding company NorthMarq Companies, acquired COMMERCE REAL ESTATE SOLUTIONS, an independently owned and operated Cushman & Wakefield Alliance firm based in Salt Lake City. Together CWN and Commerce employ nearly 750 employees, have annual revenues of more than $100 million, and manage more than 50 million square feet of commercial real estate assets.

The acquisition closed Dec. 31, 2013. Terms of the private transaction were not disclosed.

Commerce, which has offices in Utah, Nevada, Washington and Idaho, includes 250 employees, 160 of whom are licensed brokerage professionals. The firm has offices in Salt Lake City, Ogden, Park City, Provo and St. George, Utah; Las Vegas and Reno, Nev.; Seattle and Bellevue, Wash.; and Boise, Idaho.

Commerce Real Estate Solutions manages 7 million square feet, primarily in Salt Lake City. Established in 1979, Commerce is the largest independently owned and operated commercial real estate firm in the Intermountain West. Clients include UBS Realty Advisors, Rockefeller Development Corporation, the University of Washington, Prudential, Qwest/CenturyLink and Walmart.

While the firms will coordinate business development efforts and best practices, each firm will maintain independent operations and brands in their respective markets and within the global C&W platform. CWN operates primarily in Minnesota, while Commerce will continue to operate as an independently owned firm in the Cushman & Wakefield Alliance program in Utah, Nevada, Washington and Idaho.

“The combined platform and service offerings through CWN will help our professionals better serve their clients in this ever-changing market. This is a great fit for us, as both firms share similar cultural values to provide great support to employees, offer exceptional service to clients and serve our respective local communities,” says Mike Lawson, president of Commerce Real Estate Solutions.

Lawson and Commerce executives Bill D’Evelyn and Rodney Gibson will join a newly formed executive committee that will manage both companies.

Salt Lake City – SALT LAKE VALLEY HABITAT FOR HUMANITY ended the 2013 year as one of its strongest ever, with a record $1.9 million in donations. The donations contributed to the construction of six new homes and 73 home repairs.

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