The world of commercial real estate is a dynamic arena where success hinges on intricate knowledge of market trends, strategic maneuvering in complex transactions, and a steadfast commitment to client satisfaction. Within this realm, innovations in property management, investment strategies, and industry partnerships continuously shape its landscape. For those navigating this multifaceted industry, every decision and connection holds the potential to redefine business trajectories and forge new standards of excellence.
At the forefront of this dynamic industry stands Karen Simon, President and Managing Partner at Emersons Commercial Real Estate. Karen boasts a career spanning over 27 years in the Dallas-Fort Worth (DFW) commercial real estate sector. Her expertise encompasses sales and leasing across diverse property types including office, retail, industrial, and land sectors. Throughout her illustrious career, Karen has consistently showcased her exceptional abilities, earning recognition as the top producer for her company in pivotal years such as 2003, 2006, and 2008. Additionally, she achieved top-three rankings in 2004 and 2009, and held the top two positions in 2005 and 2007, underscoring her consistent excellence and leadership in the industry.
Overcoming Obstacles to Real Estate Success
When Karen Simon first showed interest in real estate, she worked as the executive assistant to the regional administrator for the Department of Housing and Urban Development. Her duties included handling public relations and intergovernmental relations for region 10, which encompassed Texas, Louisiana, New Mexico, Arkansas, and Oklahoma. Due to her position at HUD, Karen was unable to obtain a real estate salesman’s license due to potential conflicts of interest.
However, Karen’s interest in real estate was piqued when she discovered a bill in the Texas legislature that allowed individuals eligible for a broker’s license to sit for the exam without a salesman’s license, with approval from the Texas Real Estate Commission. Intrigued by this opportunity, Karen submitted her transcript to the commission and found she had completed 57 hours of real estate coursework, just three semester hours short of the requirement. Determined to meet the challenge, Karen took a two-week leave of absence from her job, attended classes during the day, at night, and on weekends to fulfill the remaining hours, and successfully passed the broker’s exam.
Trailblazing Gender Equality
With her broker’s license in hand, Karen returned to her job. Fate intervened at a Christmas party when she met the head of the industrial and land department at the Henry S. Miller Company, the largest real estate company in Texas and the fifth largest in the United States at the time. Intrigued by Karen’s journey into real estate, she shared her story of obtaining a broker’s license despite lacking prior experience in the field. This conversation led to further discussions and ultimately an offer for Karen to lead the industrial and land division of the Miller company in Tarrant County, where she lived.
Initially uncertain about her knowledge of industrial real estate, Karen expressed her concerns. However, the gentleman believed in her ability to learn and emphasized her management skills and educational background. Furthermore, the Miller organization had no women leading a commercial department, making Karen the first female to head such a
division within the company. She also became the first female industrial realtor in Dallas or Tarrant County. Stepping into a male-dominated environment, Karen stood out as the sole woman.
Her true journey in the real estate industry began when she attended her first industrial school, where she was one of 36 men and the only woman, easily recognizable as Karen Simon. This marked the beginning of her active participation in the industry and her pioneering role as the first female head of a commercial department at the Miller company.
Karen valued the opportunity and saw it as a chance to pave the way for women in real estate. It was a rewarding experience, and she appreciated the opportunity to advance the cause of women in the field of real estate.
Delivering Strategic Solutions
At Emersons Commercial Real Estate, Karen Simon leads with a focus on delivering strategic solutions and maximizing value for clients. Her specialization lies in navigating complex transactions and providing tailored advisory services that optimize investments and property portfolios. Karen’s unwavering commitment to professionalism, coupled with her extensive market knowledge and proven track record of success, positions her as a trusted leader in the DFW commercial real estate community. Her dedication to client satisfaction and her ability to drive results continue to define her impactful presence in the industry.
Emersons is a distinctive provider of commercial real estate services, with a wide array of offerings. For its clients, the company specializes in financial research, sales, leasing, property management, and consultancy. Nonetheless, Emersons has increased the scope of its business by purchasing a 50% share in 1045, a startup that was founded in 2019. 1045’s main responsibility is to oversee Kroger Real Estate’s enormous national portfolio. This involves managing about 2,800 properties totaling more than 80 million square feet. Emersons and 1045 have strengthened their position in the business by drawing in additional clients looking for professional property management services because of their knowledge and broad range of management capabilities.
Continuous Expansion of Roots
While Emersons initially operated from offices in Dallas and Fort Worth, including Karen’s office, they have expanded their reach. Smaller offices have been opened by 1045 across the nation, including those in Cincinnati, home of Kroger’s corporate headquarters, and St. Louis, which serves as the headquarters of 1045’s other owner, Priority Properties. A real estate investment trust (REIT) called Essential Growth Properties was formed about two years ago by the principals of Emersons’ parent business, Richard Webb and Matt Price, the principal of Priority Properties, and the former head of Kroger Real Estate.
This REIT’s first fund, priced at $50 million, was fully subscribed, and its second fund, valued at $100 million, is presently approximately 70% subscribed. The main purpose of these funds is to purchase reliable shopping malls that are anchored by supermarkets. A preferred return of 8% is what fund investors can anticipate from their investment. Emersons sets itself apart from rivals by providing such a wide range of services and being involved in several real estate-related industries. Their success in the industry can be attributed to the all-encompassing strategy that distinguishes them.
Emersons follows a client-centric approach, meaning that the needs of their clients come first. While the company, like any other professional enterprise, aspires to be financially successful, satisfying client requests continue to be its first focus. It prioritizes its clients’ needs by making sure that bills are paid on time before they get paid personally. Emersons shows its commitment to maintaining financial stability while performing its tasks by not going above and beyond.
Emerson’s philosophy is built on two pillars: integrity and a hard work ethic. The company is dedicated to fostering a relationship of trust with its clients by conducting business with honesty and integrity. The Emersons group is dedicated to enduring the necessary hardships in order to achieve achievement.
Advocating for Diversity and Knowledge
Karen has had several fortunate moments in her career where she was in the right place at the right time. She feels grateful for her good fortune and feels lucky to have had these possibilities. Karen feels obligated to provide others the same possibilities that she has been given, especially the young people she meets and especially the young ladies who are dealing with personal struggles.
Karen is aware that the commercial real estate industry is still primarily dominated by men, despite progress over the preceding 35 years. She understands that sometimes women must put in more effort to be given the same opportunities as men. Karen, however, is certain that, given enough dedication and perseverance, women may still be successful in the industry today.
Karen emphasizes the importance of information as the primary factor in business success. She advises that having a comprehensive understanding of a wide range of variables is essential for success in the real estate sector. This means knowing certain places geographically as well as having a solid understanding of the items being dealt with. It is impossible to exaggerate the significance of understanding client demands and geography. She also stresses how important it is to be able to communicate and share what one has learned. Answering inquiries and giving advice to others is a voluntary way for people to improve their chances of success. She emphasizes the need to have direct conversations with clients and coworkers as opposed to relying mostly on computer-based techniques.
In an effort to effect positive change, Karen actively supports and mentors young people, particularly women, who wish to pursue careers in commercial real estate. She aspires to provide children with the chance, direction, and advice that she did not always have when she first began her career. Karen is dedicated to assisting people in overcoming any challenges they may face and making sure they have the resources they need to succeed in the field.
