Each year, Midwest Real Estate News names another Commercial Real Estate Hall of Fame class. Last year was no exception, as we elected more than 90 new members. Each week, we’ll look at the career of one of these Hall of Famers. This week, we profile Steve Altemare, senior vice president with the Cleveland, Ohio, office of Goodman Real Estate Services Group.
During his career of more than 25 years, Steve Altemare has closed more than 750 commercial real estate deals for retailers across the country. And these aren’t small deals. Altemare, senior vice president in the Cleveland office of Goodman Real Estate Services Group, has worked with such big-name clients as Kohl’s, Home Depot, Walmart, Burlington, Starbucks, Office Max and JOANN Fabric.
This real estate veteran has made a significant impact on the retail scene throughout Ohio. During his more than two decades, Altemare has worked with Starbucks on 44 relocations and new stores, has helped IHOP open 13 new restaurants and has assisted Deal$ in the opening of 19 stores.
In total, Altemare’s transactions have resulted in almost 20 million square feet with a market value of nearly $500 million.
Altemare credits the relationships he’s built with clients for his success.
“Commercial real estate is a relationship-based business, and we have been able to maintain long-term relationships with our clients,” Altemare said. “Many clients have become friends, and I believe those friendships will continue long into the future, even if the business relationship changes.”
But how does Altemare build these relationships? There’s no secret formula here. He says that consistency and hard work are the foundation for success in retail real estate.
“But it also helps to be organized and to pay attention to the details,” Altemare said. “Strong communication and problem-solving skills are also extremely beneficial.”
Altemare says that the long-term relationships are what he values most about working in commercial real estate.
“National retail companies have put their trust in us to be their local partners in the market,” he said. “It is highly rewarding to conduct a site search, select a location, negotiate a lease or purchase and follow the deal through the process to the grand-opening. It is truly exciting when a new location performs well and confirms that we are doing the right thing for our clients.”