During his 15-year career in commercial real estate, J.R. Foster didn't see many faces like his in the industry.
As an African-American, Foster found the lack of diversity in commercial real estate particularly striking, considering the changing global marketplace. In many industry sectors, supplier and corporate diversity is considered a business advantage.
"Corporations are spending a great deal of money with minority- and women-owned businesses, but there is virtually zero spend in the corporate real estate space. There are very few minorities who go out and form their own companies after growing their knowledge base," says Foster, who's spent much of his career at
Jones Lang LaSalle (formally The Staubach Company), Lehman Brothers and JP Morgan.
That's why this year Foster went out on his own and co-founded
Robert Louis Group. The firm is one of the only Minority Business Enterprise (MBE) certified commercial real estate firms in the country.
Foster's background includes corporate real estate leasing assignments, sales, acquisition, financing and M&A transactions. The company has a working partnership with
Colliers International to provide its clients services globally.
Foster and his co-founder David Hornberger are working with independent real estate contractors and are in the process of growing their leadership team.
Just as corporations depend on diversity in hires and suppliers to grow their businesses, Foster believes diversity in commercial real estate can help companies reach an increasingly diverse consumers base.
The firm offers brokerage, marketing, financing, property management and other services.
"We're not only focused on real estate, but the way our clients do businesses. We take into account the design of space, strategic locations and business objectives," Foster says.
By Feoshia H. Davis
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