MEMBER PROFILE:

Leasing Specialist Watching

the Industry Evolve

Olivia Gibbs, FRI CLO has seen her career - like the industry itself, evolve for the better through the years.

“While I saw an opportunity as a woman in commercial real estate, like most industries and organizations, there was a ‘glass ceiling’ in the business,” Gibbs emphasizes when asked about the biggest lesson she has learned in her career within the industry. “There’s some truth in the saying that women who aspire to management positions have to work twice as hard as a male counterpart - and that's a lesson I learned very early on.  Thankfully, more women are now taking charge of their own destiny and being more supportive of each other in business.  There are women's organizations, such as Toronto Commercial Real Estate Women, of which I am a member, that have created excellent networking opportunities for women in the commercial real estate sector.”

Originally Gibbs began her career in a very different manner working for a care taking and property management company. Yet it was her desire for a strong family life that would lead her career into another direction and had her entering the field of commercial real estate – a sector, which at the time didn’t have many women actively involved in that type of career.

When the opportunity arose to do lease administration with Y & R Properties (later Oxford Developments) in 1978, Gibbs jumped at the chance.  At Y & R Properties, she got her first taste of leasing office space and eventually focused on industrial leasing along with Al Reisman Limited, a developer of multi-tenant mixed use industrial and retail properties in Scarborough and Markham in the late 1980’s.

“I decided to get into real estate because I saw an opportunity for women.  Traditionally, women did very well in residential sales, but as a single mother in the '70s, I needed a nine-to-five job that was challenging – weekends and evenings were reserved for family.  Commercial real estate was a field that interested me and also allowed me to work the schedule that I needed to, unlike residential real estate. There were not many women in commercial leasing at that time and starting out as a lease administrator with Y & R Properties was exceptionally good training for what was to come.”  

This training has helped Gibbs excel in the leasing sector – and has provided some of the most fulfilling moments of her career.

“I'm involved to a great degree with start-up businesses and new immigrants to Ontario and I enjoy helping these entrepreneurs find a suitable location as well as helping them understand the legal issues in connection with leasing space.  I get great personal satisfaction from this focus and it has paid off over the years with repetitive business, tenant growth and retention in the various projects for which I’ve been responsible.”

In 1995, she joined Morguard Investments Limited where she was responsible for over 6 million square feet of industrial space in the GTA as Leasing Manager – Industrial. This large portfolio came from putting together many smaller deals rather than large ones.

“Over the past 15 years or so, I've become an ‘industrial multi’ specialist,” explains Gibbs. “  It’s something many industrial agents are reluctant to handle due to the nature of the product. It is far less labour intensive and more lucrative to lease one building of 100,000 square feet than do 100 deals of 1,000 square feet each.”

Gibbs states proudly about leasing and putting deals together, “I enjoy putting together ‘good paper’ – offers and leases containing clauses that are well written and concise.”

Gibbs continues to put good deals together for her current employer, STONELEIGH Management Inc. for whom  she has worked  for since  2004. Gibbs is the Vice-President of Leasing for this full service property management company.

With a regards to the industry on a whole, the Montreal born and raised Gibbs feels that the right steps are being taken to make things better for all those involved, and that REIC can provide a significant impact as the industry moves forward.

“I definitely feel that the industry is more stringently regulated and is striving to improve the perception of real estate professionals by the public.  Having said that, I think that there's still a long way to go - and here's where REIC can truly contribute by maintaining high standards for obtaining its designations.  If industry standards are to be improved, the bar must be set higher and I think that's where REIC has a role to play.  Hopefully, when the public sees an REIC designation after a real estate professional's name, they'll recognize that particular person has a vested interest in excellence.”

In five short years Gibbs has become a significant contributing member of REIC. She has earned both her FRI and CLO designations had has become a member of the Toronto Chapter Board of Directors.

Gibbs herself confesses that she is a relative newcomer, but insists her voice will be heard.  “I'm enjoying my affiliation with REIC and serving on the Chapter Board of Directors.  I'd like to make a difference and I appreciate the opportunity to share my viewpoint and my ideas with fellow members.”              

This avid "native" gardener and woodworker has a strong desire to give back during this stage of her career and provide insight to those who want it.

“I'd like to dedicate some time to teaching and sharing my experience in real estate and management with young people interested in personal achievement.”

No doubt as someone who has seen this industry evolve over the years, she will have a bounty of knowledge to share.

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